When people consider why businesses fail, they most often point to resource problems, such as lack of cash flow. However, one of the major challenges fledgling businesses face is poor branding. A study conducted on startups in the United Kingdom discovered that branding was a significant hurdle to their success.
But what significant mistakes are most common when it comes to branding and how can you improve your business’s brand without breaking a sweat?
Common Branding Mistakes
Poor branding can cause no end of problems to a small or new business. It can cost customers, revenue and even create such a negative perception of your company that you could be forced to close shop. Here are a few common mistakes businesses make when it comes branding.
Your business should only send one message at a time. Your tone also needs to be consistent. For example, if you sell thermoplastic paint for road marking, your primary message should be about its durability or its unique ingredients. If you don’t stay on this message across all your communication platforms, you risk alienating your market and confusing customers. This can lead to lost revenue and a decline in business.
Your logo is the epitome of your business and should accurately reflect what your company’s goals and identity are. Everything about your logo, from the design to the colors, should create an image that inspires confidence in your business as well as accurately communicate it. Bad logos risk confusing your target market and potentially alienating them.
Finally, nothing can damage your business’s branding more than dishonesty and misrepresentation. If your business promised to use organic ingredients in its product packaging, then it should have nothing but organic ingredients. Misrepresenting your company is a surefire way to lose your clients’ trust not to mention open yourself to a potential lawsuit.
Improving Your Business’s Branding
So how can you ensure your business’s branding is up to par? Below are some simple ways you can boost your branding.
1. A Well-Designed Logo
Hire a graphic designer and collaborate with them to create your brand’s logo. You should tell them what your business’s goals and ideals are. Don’t’ forget to workshop your logo and ask people what they think of it before settling on a final design. Make sure the logo is consistently displayed throughout all your merchandising and correspondence.
2. Consistent Tone
You should be constantly putting out messages and announcements. Whether your messages are for new products or just general information about your company, you should have a consistent language and syntax. This will prevent customers and other businesses from being confused or put off by inconsistency.
A lot of people prefer to process their information through a visual medium. This is why you should be churning out infographics in a regular pace. These graphics won’t just draw attention to your website or social media pages, they can establish your business as an authoritative source on a subject. People can share or link to your infographic and expand your online presence.
4. Reach Out on Social Media
Social media has become a new arena where businesses and expand their influence and gain new customers. Aside from just making a page for your business, you should also be constantly reaching out to customers. Social media platforms offer myriad ways for you to engage with customers, such as contests on your feed, live videos, interactive stories and the like.
5. Evolve When Necessary
Finally, just because you’ve grown comfortable with your business’s branding doesn’t mean it should stay forever. Do regular market research to discover where customers are paying more attention and what they’re looking for in a business. Whenever you feel your business is getting stale, you should rebrand as necessary and reinvigorate your business’s image.
Business branding can be difficult to perfect but it’s essential in establishing your business. Investing in good branding is investing in your company’s future.