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Your brand is more than the name of your company, or a logo; It is the way people remember, perceive and recognize your business.
A strong brand makes it easier for customers to understand what you offer, and why they should choose you.
There are multiple parts to building a brand:
Brand Promise
Brand Promise
The brand promise is a commitment, which tells your customers the value, experience and benefits they can expect from every interaction.
It answers the question "What will I recieve from this business on a consistent basis?"
Most popular brands today have a brand promise which is short, clear, realistic and consistent.
Some examples include:
Walmart
Walmart
"Save Money. Live Better"
Geico
Geico
"15 Minutes Or Less Can Save You 15% Or More On Car Insurance"
Nike
Nike
"To bring inspiration and innovation to every athlete"
Unique Selling Proposition (USP)
Unique Selling Proposition (USP)
The USP is one of the most important pieces of your product or service. It is the part of your business which sets you apart from the rest of the market, and answers the question as to why consumers should choose you over others.
Your USP could be:
Lower prices
Higher quality
Faster service
A specific niche (e.g., tutoring for one subject or age group)
The goal is not to be the best at everything, but to be clear and the best at the one thing that makes you stand out.
Some real life examples include:
M and Ms
M and Ms
"Melts in your mouth, not in your hand"
Patagonia
Patagonia
"Build the best product, cause no unnecessary harm"
Fedex
Fedex
"When it absolutely, positively has to be there overnight"
Brand Values
Brand Values
Brand values are the core principles which define what the business stands for. They are reflected in your daily actions.
Examples:
Affordability
Accessibility
Quality
Community
Overall, branding is crucial because it defines your business identity, differentiates you from the competition, and builds trust with consumers.
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