Does Your Brand Have a Future?

Every startup is out to accomplish something different. But how do you create a brand identity around that goal?

A brand is an intangible asset that defines your business. It is a combination of your business’ identity, logo, online presence, charitable work, social responsibility, environmental policy, human capital and much more. A brand is your reputation.

Brands are worth billions of dollars. Apple’s brand is worth over $170 billion. Google weighs in at $101 billion, followed closely by Microsoft at $87 billion.

Ask yourself these questions to see how well your brand is doing and what you can do to enhance performance and drive results.

  1. Is there a disconnect between how you want your customers to perceive you and how they actually perceive you?

Your reputation is everything and your brand drives your reputation. What are your customers saying about you? Is it what you want to hear? You need to ensure that your current strategy is aligned with your goals. Your approach might be outdated or ineffective. Turn to experts for advice on how to revitalize your brand and build the identity you want to portray.

 

  1. What do the numbers say?

Are you meeting, surpassing or falling behind your conversion, engagement and sales goals? Keep checking your stats to get a realistic picture of how well your brand is performing. Make sure you’ve established your metrics well. Are you focusing on sales figures? Engagement analytics? Social media metrics? You might not be getting projected results due to an outdated brand identity. Or a non-existent social media presence. Or a misleading, poorly fitted one. When your business’ reputation feels unfavorable, you know it’s time for a change.

 

  1. How is your online presence?

Is your website up-to-date and relevant to the industry? Your digital assets should be in top shape to establish yourself as a credible player. From your web to your mobile applications to your social media–your reputation depends on an engaging and  user-friendly customer experience. Ensure that there is no disconnect between your message and its execution. If you are offering cutting-edge digital solutions, your website should exemplify what you have to offer through superb design, convenient functionality, and constant updating. Your best work should always be on display for the world to see.

  1. Is there an ongoing conversation?

You must keep your brand at the top-of-mind awareness, so that the world knows why you exist and why others should care. Find creative ways to reach out to your target audience with small perks that provide value, because give always comes before take. Free, relevant, interactive content like games, quizzes, calendars, infographics, and such are a great way to build your reputation by helping others while shining a light on what your business has to offer.

  1. What’s the word on the street?

Feedback is an invaluable tool that lets you know how well your brand is doing and what changes are due. Constantly engage in conversation with your customers. You will establish goodwill and trustworthiness. Make it easy for them to reach out to you–you want as much feedback as possible, both positive and negative. The more you know about how your consumers perceive your brand, the more responsive you can be to this real-time feedback.

Conduct internal and external surveys, use social media and informal initiatives to gather as much intel as possible. There is no such thing as too much feedback.

  1. Keep up with the trends

To become a key player in your industry and develop a winning brand, you should be ahead of the next big thing. You want to be a trendsetter. You should know what your competition is up to and how you can outsmart them to become a market leader. Educate yourself about your industry’s developments daily. Read relevant publications, follow blogs and social media, network to learn what’s coming next firsthand from the industry gurus. There is no excuse to stay in the dark. Those who have the information have the power to use it.

 

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