Today, it is commonly heard that considering the environmental impacts of every activity are advantageous for humans and this planet. Yes, Eco-Awareness has succeeded in driving more and more people to take into account the environment and make this world a better place to live.
As people are showing more interest in Going Green, this can affect businesses that are not following an eco-friendly path. One of the simple reasons why a business may not have considered the environmental aspects of their different processes, is that they may not be aware of the benefits of doing so. After reading this article, businesses cannot complain that they did not know about the unique benefits of respecting the environment. Here, the benefits of considering the environment in three vital pillars of every business – products, staff, and customers – are briefly explained. So, let’s begin:
1. Benefit to Products
Products that are produced with consideration for their environmental impact, will see a direct increase in their demand and their productivity will improve significantly. It has been noted that people are usually loyal to businesses respecting the environment and reward them by purchasing more of their products. This directs businesses to streamline their efforts and conserve resources which eventually helps them come up with a superior product, increased productivity, and reduced costs. The reduction in costs will mean that a business will have extra money to not only continue rigorously following sustainable business practices but also to be able to inform more and more people about their achievements. As a result, products produced this way become a “hit” and witness a substantial increase in demand, which of course is ultimately beneficial for a business.
2. Benefit to Staff
The culture of businesses considering the environment positively impact their staff members. Staff feel safe while working these businesses and any green initiatives at the workplace boost the morale of employees and workers. At such businesses, the workforce is not just a commodity; all staff members are treated humanely and their needs, as well as health, are taken care of in the appropriate manner. When staff members get the feeling that they are an important part of a business enterprise that cares, they will not want to leave and will become “permanent” employees. In other words, businesses operating sustainably boost employee morale which ultimately encourages them to stay connected with the business and work hard. It is also been noted that people working at businesses that consider the environment take less sick leave.
3. Benefit to Customers
When businesses respect the environment, customers are the biggest beneficiaries. Today, customers know how products and services affect the environment. They care about the environment and are concerned about the future of their children. Customers are relieved when they learn that a particular business considers the environment and is involved in supporting environmental issues. They develop a positive image of that business. This way customers find something they can always “trust” and as a result, they start purchasing the products of that business. Moreover, this trust increases the purchasing power of customers.
So, these are the three unique benefits when businesses consider the environment. The most important components of a business are its products, staff, and customers and when a business considers the environment, these components benefit the most. In due course, the business can expect their profits to also grow remarkably.
When businesses are asked about branding, they confidently refer to their website development, logo, and several other marketing strategies. But, when the same businesses are asked about how they thoughtfully nurture their brand, most of them fail to provide a satisfactory answer.
Thoughtful nurturing of a brand is much more than just using common marketing strategies. It starts when business owners think deeply and find the answers to some basic questions, like:
- What was/is the purpose of establishing the business?
- What does their brand stand for?
- What are their brand values?
- What culture do they wish to nurture?
- How will they communicate who they are?
Only after getting answers to such questions, can businesses help to foster their brand, thereby gaining numerous benefits. Today, you are going to learn about 3 major benefits when businesses thoughtfully nurture their brand.
1. Easy addition of new product(s) and service(s)
When a brand is thoughtfully nurtured over time, it gains a loyal customer base who will follow the brand as it grows. In such a situation, businesses can easily add a new product or service to their existing range without worrying about early adoption. Having a base of loyal customers, they can even experiment with some new ideas before putting money into a big launch. Sometimes, loyal customers will even stand in line to purchase or at least get a glimpse of the new product. If you remember, this happened when Apple launched its Smartwatch globally. People lined up overnight outside Apple Stores to get the first look at this newly launched product. Those people were none other than loyal customers of Apple who were already using different Apple products such as iPhones, MacBook’s, iPods, and iPads.
2. Solidifies a business’s presence in the marketplace
Evaluating the way customers and consumers view and respond to a brand is one of the primary steps businesses need to consider before thoughtfully nurturing their brand. A step more important than this though, is to evaluate the competition, its offerings, and why they might be failing to successfully deliver. However, thoughtfully nurturing a brand also helps in delivering products or services that are different from the competition but still beneficial for the target audience. This ultimately helps the business to meet or exceed the expectations of customers. With such an approach, a brand gains rapid popularity, ensuring that a large number of people recognize it and start purchasing the products or services it offers. In this way, businesses not only get an opportunity to revive and reposition their actual offerings (if necessary) but also to solidify their presence in the marketplace.
3. Increased conversion
In order to successfully close a deal, a relationship should exist between the customer and a business entity. But how is this possible? Yes, you guessed it – by thoughtfully nurturing the brand. Suppose that you run a business and have received a positive inquiry. You should act appropriately as per the prospect’s level of interest and make sure to avoid the hard-selling approach straight away. Instead, work to gain the interest and trust of the prospective customer or client. You should provide them with all the essential information they need to make a decision. However, do not forget to add a clear call to action (see explanation below) in whatever information you provide to them. When brands are thoughtfully nurtured, this kind of approach is commonly followed. Converting prospective clients into acknowledged customers will then become an easy task.
Creating a brand is easy but nurturing it takes thought and effort. In order to thoughtfully nurture a brand, businesses need to start with their own work culture. The best way to do this is to establish and maintain a working environment which not only attracts but also retains the most appropriate talent.
Also, it has been noted that people (whether inside or outside a business) that are involved in nurturing a brand will often consider industry benchmarks, case studies, and historical budgets just to make sure that value is added to the brand. Moreover, it helps them make and implement strategic plans so that the brand gets the relevant exposure and pays off in the long run.
Finally, if you want to thoughtfully nurture your brand, make sure you create a strong culture, be clear about the purpose of the business, identify and implement your values, and genuinely communicate with your prospective and existing customers. Remember nurturing a brand is not an instant marketing strategy, it’s a lifetime journey.
From the pace of Eco-Awareness and involvement of people in green activities, it can be inferred that the importance of environmental sustainability is widely accepted and practiced. Surprisingly, sustainability of the environment not only impacts the lives of people but businesses as well. You might be aware that when businesses do not consider the environmental aspects of their processes, they could inadvertently be damaging the environment. But, did you know that a business that avoids taking into account the environmental impact of its operations causes more harm to itself?
Like most people, many business entities are also unaware of this fact. Today, we are going to enlighten you about some side-effects on businesses when environmental aspects are not considered. Here are three of the most common side-effects:
1. Unfavorable Working Conditions
The different processes of a business can pollute the environment in different ways and also make working conditions unfavorable. For example, nitrogen oxide released by industrial machinery and volatile organic compounds from paints, gasoline, solvents, and ink when exposed to sunlight, forms ozone, an odorless and colorless gas that is very harmful for people, as well as the environment. Workers that come into contact with this Ozone gas are always at risk of developing serious health conditions such as a cough, chest pain, throat congestion and irritation, asthma, bronchitis, and emphysema. Similarly, nitrogen dioxide, particulate matter, sulfur dioxide, and lead also pose severe risks to the health of workers. This ultimately gives rise to unfavorable working conditions, and the ill-health of workers at a workplace directly affects productivity.
In order to make the working conditions favorable, a business should take steps to reduce emissions that could be responsible for its workers’ ill-health. Following favorable policies and upgrading its operations are two steps that businesses can take that are crucial to preventing environmental, as well as personal loss.
2. Increased Costs and Lack of Workforce
The second side-effect is somewhat a continuation of the first one. The costs to cover pollution (such as taxes) and its impact (on staff or workers) are some of the biggest burdens a business faces. When a business operates in a heavily polluted area, people may be reluctant to work there, fearing that it might damage their health; hiring and retaining the appropriate workforce becomes really difficult and time consuming. Higher wages can attract the right people, but as they escalate costs, most businesses cannot afford that. In addition to increased costs, pollution hurts businesses where investment is concerned. Investors might be more reluctant to invest in companies operating in high pollution areas.
If businesses want to produce products in a safe manner without increasing their costs, they should ensure they do not operate in heavily polluted regions. If they are already operating in such locations, the best option is to move to an area with less pollution.
3. Disappointed Shareholders
Shareholders are people or entities who believe in the way a business is operated and put their money into the business, expecting that they will get handsome returns in the future. As you might be aware, shareholders invest in a business only after understanding how it operates and where it is headed, so when they find that a business is harming the environment or not following government policies that protect the environment, they could lose interest and either withdraw or not invest any further money into that business. You might come across some companies that justify that the harm they have done to the environment is because of their various essential business operations which will eventually increase their shareholder’s wealth. But such companies forget that governments all over the world are becoming very serious about the environment and if businesses violate their environment-oriented policies, huge fines can be imposed and their operations could be banned. This of course would lead to a decrease in productivity and profits, which would be a huge loss to the shareholders.
Businesses that start or have started following green practices, is the perfect solution to this problem. It is also important to inform shareholders about such developments, otherwise the business might miss a chance to impress them and win their confidence back. This will also project a positive image of your business to outsiders.
The environment’s current state is cause for concern all over the world. Increased awareness is helping, but there are still many businesses that are not concerned about the environmental impacts of their operations. They need to understand that not considering the environment is harmful not only for the environment, but for their business as well.
The Industrial Revolution paved the way for humans to enter into a new era. Rapidly developed technologies and advanced scientific innovations brought the manufacturing age. Along with all this development, came threats to the environment in the form of global warming and different kinds of pollution. These threats are nothing but the side-effects of running a business.
Decades ago, the side-effects of these developments were limited, but with the evolution of industries, they increased massively. Nowadays, a lot of people know that their lifestyle habits impact the environment negatively and thus take measures to prevent or reverse the harm caused to the environment. Similarly, many businesses know the way they are operating is harmful to the environment, yet very few of them consider the environmental aspects of their operations.
Not every business is aware that from the time the business is formulated on paper, to selling their products or services to their first customers/clients, almost every activity of their business has already impacted the environment. Unfortunately, most businesses that are aware of this fact, do not change their actions and just continue harming the environment. This article is going to introduce you to 3 side-effects on the environment when businesses do not consider the environment.
1. Global Warming
Global Warming increases the earth’s average temperature and further deteriorates the balance between weather and the ecosystems. Today, different activities such as construction, manufacturing, transportation, etc. carried out by businesses, surge the atmospheric CO2 and other greenhouse gases. These practices are the primary causes of global warming which is responsible for disturbed ecosystems, melting ice, permafrost in polar regions, increased sea levels, increased frequency of heatwaves, droughts, and natural disasters like storms, hurricanes, wildfires and floods, among others.
In order to decrease Global Warming and its impact, businesses can take steps to enhance energy efficiency, shift to renewable sources of power, regulate the way they dispose of waste, use recycled office supplies, and increase their involvement in eco-friendly activities.
2. Air Pollution
Air pollution is another side-effect caused by businesses not considering the environmental impact of their activities. When businesses are not run efficiently, their operations such as manufacturing, vehicle repairing, farming, welding, mining, printing, transporting, and others, emit harmful fumes, greenhouse gases, and dust in the air causing air pollution. Air pollution by businesses also depletes the ozone layer and causes acid rain which further damages buildings, land, fresh water, sea water, plants, and wildlife.
A business can take several steps to control air pollution. For example, businesses involved in manufacturing should monitor emissions caused by the burning of fuels in furnaces and act accordingly. Instead of traditional vehicles running on fossil fuels, businesses can shift to electric ones. Moreover, instead of covering all the electricity needs through grid electricity, it is better to shift some of the load to the electricity generated by the sun through solar products.
3. Water Pollution
One of the biggest side-effects when businesses do not consider the environment is water pollution. Businesses involved in the production of goods often require a large amount of water to carry out their work. During different processes, this water comes in contact with harmful chemicals, heavy metals, radioactive waste, and sometimes with organic sludge. When it comes to dumping used water, businesses prefer rivers and oceans. This severely harms the eco-system, renders various groundwater resources useless, and when this water is used in irrigation, the quality of produced food gets affected.
Today, businesses can do a lot of things to prevent water pollution. Governments all over the world have introduced different policies to control water pollution, and businesses can follow such policies made by the government agencies in their regions. All operations of a business should be carried out only after proper planning of waste management. Also, the use of the latest technology can help businesses to significantly control water pollution.
Businesses that affect the environment are a big concern all over the world. Various measures have been taken to permanently solve this problem, but the desired results cannot be achieved until there is active participation from every business. The availability of better and advanced technology is quite helpful in controlling the environmental impact of business activities. However, the environmental impact of business activities is still rampant and we are still several years away from these effects being kept under control, especially if businesses do not take any responsibility.
Businesses, whether big or small, cannot survive in the long run if their offerings – products or services – are not suitable for the needs of their consumers or clients. As the basis of running their businesses, most of them focus only on their products and then complain that they are not as successful as they expected.
Focusing on products alone is conventional. Today, if a business wants to be successful, it should never limit itself to focusing on its products only. Instead, it should focus equally on the work culture, employees, customers, and marketing strategies. Only a few businesses succeed in doing this because they understand that focusing only on the products is not a viable strategy to achieve success and continue it in the long run.
Today, you are going to learn about the 3 major side-effects that happen when businesses focus only on their products.
1. Limited Growth
It would be wrong to say that businesses that only focus on products fail to survive in the long run. A business can survive, but will only show limited growth. On the other hand, businesses that focus simultaneously on products and other factors such as advertising, employees, work culture, ethics, and customers/clients, grow at a much quicker pace and rate. Such businesses not only earn more profits, but develop a large customer base as well. A business focusing only on its products needs to understand that growth increases when sales increase and sales are increased when more and more people know about their products.
There are various methods a business can follow to enhance its growth, and advertising is at the top of this list. A business’s visibility is increased with appropriate advertising strategies. As a result, it generates higher growth which ultimately improves the profitability of the business. Other factors responsible for generating and achieving steady growth in the long run, are the management and business structure of a business.
2. Dissatisfied Employees
When businesses focus only on products, they fail to satisfy their employees. Sometimes during new product development or to meet the increased demand for their products, businesses often place extra pressure on their employees. This pressure is both mental and physical. Sometimes, employees are ready to work hard but as they do not have the appropriate tools and working environment, they fail to perform efficiently. This can give rise to some valid complaints from employees. An organization focusing only on its products, never pays attention to employee complaints which ultimately causes a decrease in the overall profits of the business.
There are different ways a business can prevent its employees from becoming dissatisfied. For example, compensating them for their extra work will prove advantageous in most cases. Secondly, employees should be trained to produce error-free work and remain calm in pressured situations. Moreover, businesses should hear their employees, provide them with a conducive working environment, and help them enjoy a fruitful work-life balance.
3. Poor Customer Service
When businesses focus only on products, they neglect their customers. Due to this neglect, the issues faced by customers and the changes or improvements they expect to see in specific products remain unknown to the business. A business focusing on its products can bring positive results in the short term, but in the long term, customers will shift to other available options. No matter how superior the products of a business are, nothing a business does will create a loyal customer base until the customers are heard and until their issues are resolved. Moreover, customers do not appreciate or purchase the products of businesses that do not treat them well.
All businesses want to earn more, but they need to be mindful of the way customers are served. Focusing only on the products is never a good strategy; businesses should also focus on their customers. It is true that good products help in building a business, but the bigger truth is that neglecting customers – not respecting them, not working to gain their trust and loyalty – can ruin even a well-established business in no time. Also, in order to improve poor customer service, businesses should provide customer-focused training to its employees.
Top businesses never focus only on their products. Besides products, they consider their customers’ needs, help their employees grow, maintain good relationships with suppliers, and do several other things that are beneficial for the success of their business.
There are times when big changes and developments in an industry or business environment shake the foundations of a business. Even the most successful businesses can find it hard to respond effectively. As a result, they fail to guard themselves against competitors attacking with new technologies, products, and strategies. Moreover, their sales and profits plummet, vital employees start to leave, and market values reach an all-time low.
Do you know what causes this to happen? These situations occur because of an important, yet seemingly insignificant reason – the businesses have not been nurturing their brand’s image. Most business owners think that taking a few steps towards establishing their brand is all they have to do but this is not true. Just like a gardener nurtures plants through their life cycle, business owners need to take steps to nurture their brand at every stage. Only then are their businesses immune from the paralysis caused during any disruption or change in the business environment.
The inability to execute important brand-related initiatives hurts businesses in different ways. Today, you are going to learn about 3 of the most common side-effects when businesses do not nurture their brand.
1. Customers do not Come Back
When businesses do not take branding seriously, even the most effective strategies fail to make customers loyal to their brand. Let us understand it this way – the trend that businesses are following nowadays, is to skip the “nurturing the brand” part and use the money saved to lure customers with discounts and free gifts. This gives the business a quick boost, but they will soon enter into a price war as competitors offer more discounts; soon this becomes a cycle that slowly squeezes their customer base. Once the customers have gone, they do not come back.
On the other hand, when customers realize that a particular brand is delivering quality, they remember it, become loyal to that brand, and come back again and again. Also, discounts no longer remain a priority. If, for example, you are an online retailer and you provide your customers with fast shipping, a simple return policy, fast returns, knowledge, expertise, personalization, and enhanced customer support, they will definitely look forward to making repeat purchases from you.
2. Challenges Emerge in Business Relationships
The relationship that a business has with all its stakeholders is affected when it loses focus when branding. When brands are thoughtfully nurtured, businesses form robust relationships with their target audiences, turning them into prospects and further into customers. On the other hand, disorganized nurturing of a brand leads to stakeholders having bad experiences with the business – prospects do not look forward to initiating a business relationship and existing customers no longer remain loyal to the business.
However, businesses should always make the effort to build strong relationships with customers, employees, lenders, suppliers, and investors. The focus should be to win the hearts of franchisees, customers, and investors at each stage of the business’s expansion, where all employees, suppliers, lenders, and customers should be acknowledged, respected, and served appropriately.
3. Values Diminish
The values of a business are beliefs held that deeply unify and inspire all the people associated with it. They make employees want to be loyal and committed to their working responsibilities. In other words, values are like the central force which holds a company together. These values further help in creating a robust brand identity, which people want to interact with because they like and respect its values. But when a business does not nurture its brand, its values no longer remain visible and are not powerful enough to inspire people to connect with the brand.
In order to prevent a company’s values from diminishing, a business should continuously make efforts to nurture its brand. Often when a business matures, its values are transformed into hard and fast rules and regulations which is not always positive for its employees and customers. This can send a negative message to the target audience and they can start distancing themselves from the brand, resulting in sales stagnating. Businesses should avoid this and focus on nurturing their brand so that growth opportunities from all over the world can be seized.
So, these are the biggest side-effects or losses businesses face when they do not nurture their brand. There are many strategies and real examples available, all with the ability to help businesses nurture their brand and build real, as well as mutually beneficial business relationships which will bear fruit over time.
With technological advancement bringing increased awareness, almost all businesses know that in order to enhance their customer base, sales, and profits, they should take working towards building their brand seriously. Since a well-known brand name has the capacity to attract valuable clients and allows a business to stand out from the crowd, you can understand that good branding can do wonders for your business.
Today, many business owners do not establish their businesses on a solid foundation which can destroy their business or cripple their ability to generate the needed income. Do you know why this happens? Because they place too much emphasis on the wrong areas which negatively impacts every aspect of their business. Why do many businesses focus on the wrong areas? It is because they fall for some common brand building myths.
In the primary stages of building a brand identity, many entrepreneurs and business owners spend a lot of money on branding techniques that are not effective for their business. Just because some businesses are having success using outdated and ineffective branding techniques, is no surety that they will also have the same result for you. In this article, you are going to learn about the 3 most common brand building myths which can hurt a business in the long run.
1. Brand Building is an Expense
Many business owners consider brand building as an expense and avoid putting any money, as well as any effort into building their brands. However, they are wrong because brand building is an investment that leads to increased consumer awareness, customer loyalty, and associated qualities. This investment matures in the form of higher sales and profits. Business owners might find these intangible characteristics difficult to value, but this does not mean that they should not invest money and effort into building their brands.
With this thought, a logical question arises: What amount should you invest in building your brand? In this regard, different experts give different estimates based on what branding strategy is used, but we can provide you with a credible and finite range. The bottom line is that you should invest around 15 to 20 percent of your expected gross annual revenue in brand building. This amount is usually applied to employing branding strategist(s), web and graphic designers, marketing experts, social media experts, copywriters, and other relevant sources to help you perfect your brand’s image.
2. Word-of-Mouth Publicity Automatically Leads to Success
This is another myth responsible for the failure of businesses, especially in their initial stages. Many business owners and entrepreneurs do not believe in spending even a penny on building their brands. They think that word-of-mouth publicity will kick in and automatically build their brand for them. This was a possibility several years back for small industries, and when there was less competition. Today is a new era with numerous options for marketing and completely different consumer behavior. Assuming that word-of-mouth publicity automatically leads to success is not true and will make it more difficult for your business to make an impact.
If today you want to gain through word-of-mouth, there is no need to wait for it to kick in anymore. Instead, make it happen by building an informative and engaging blog about your products or the services you offer. When your potential customers go through the valuable content on your blog, they will make word-of-mouth work for you in a more relevant and up-to-date way.
3. More Money Spent on Brand Building Makes a Business More Profitable
This is one of the favorite phrases of almost every advertising salesperson and continuous repetition of this myth forces business owners to start believing it. There are many businesses who spend a lot of money on advertising their products and services in an unproductive way. Some fail to make relevant advertisements, some do not target their appropriate target audience, some do not advertise on relevant mediums, and some fail on all these fronts. With all these efforts, the money involved in these activities get wasted.
The best way to build a brand without spending much money is to utilize the media effectively. When you provide valuable content through broadcasting, print, and online media, your brand gains huge exposure and credibility which are essential ingredients of brand building.
Most businesses fall for these 3 brand building myths but now that you know about them, you can work towards building your brand in a more realistic and effective manner. In other words, you can take steps now that clearly express your brand’s message. You can now connect with your target audience and generate those profits you know your business is capable of.
A brand is a common term but arduous to define. Every person, depending upon his/her position, summarizes a brand differently on different occasions. Whether a potential customer, an existing customer, an employee, recruiter or part of the general population, a brand does not mean the same to everyone. Therefore, it may be said that a brand is a way to represent a business to all the internal and external stakeholders.
To have a successful brand is really difficult but despite this, certain brands do gain a lot of exposure and success. Do you know why? Because they are thoughtfully nurtured to increase the trust, loyalty, and engagement of everyone associated with them.
Still confused about the “Successful Brands Are Thoughtfully Nurtured” idea? Don’t worry, this article covers the most important concerns related to successful brands which eventually clarifies everything. Continue reading…
Why Brand Building is Important?
If a business wants to gain success, building a strong brand is a necessity. It influences the responses of current and prospective clients regarding the products or services offered by a business. Building a brand also increases awareness, generates trust, ensures customers are loyal towards the products or services, boosts the morale of employees and improves job satisfaction.
The Significance of a Brand
A brand is beneficial to buyers, as well as sellers. It helps the buyers to identify the products or services we like or dislike. Branding not only reduces purchasing time but also the risk perceived by buyers. It helps buyers evaluate the quality of products or services. Above all, buyers feel excited and special, owning certain brands (such as Apple, Mercedes, Rolex, and others).
From the sellers’ point of view, branding differentiates a business’s products from competitors. As branding develops loyal customers, repeat purchases become more common and price comparisons become rare. An advantage with successful brands is that they are able to launch a new product or service at any time. Moreover, branding smoothes promotional efforts and helps in stabilizing market share.
Key Ingredients of a Successful Brand
A successful brand is always positioned to convey distinctive and compelling notions which build emotional links between the business and its stakeholders. Here are the 10 key factors which play a major role in making a brand successful:
- A unique quality separating it from its competitors.
- Thorough knowledge of target audience such as demographics, interests, ways of communication, etc.
- Superior product or service that attracts the target audience.
- Effective leadership.
- Passion to work hard and deliver only the best to customers.
- Consistently providing the same quality and service.
- Vibrant exposure through Omni-Channel advertising.
- Being competitive and always determined to improve.
- Always putting people (whether customers, employees or the general public) first.
- Positive company culture.
Major Steps to Developing a Successful Brand
Being a successful brand is the dream of every business. Knowing the factors that make a brand successful is not enough, you also need to know how to effectively use them for your purpose. Consider the following 10 steps to developing a successful brand:
- Find out the target audience of the brand. Be specific, focus on the lifestyle and behavior of the target audience because only then does your offering exactly meet their needs.
- Craft a mission statement for your brand which clearly expresses the passion of your business. Note that everything that reflects your business (such as logo, tagline, message, personality, etc.) echoes this mission statement.
- Research and analyze the competitor or benchmark brands within your industry. Do not copy them exactly but understand their working procedure and factors behind their success.
- Summarize the major qualities and benefits of your brand, in the form of products or services and offers. They are the reason why your target audience chooses you over others.
- Give your brand a logo and craft an enticing tagline. The logo appears on everything related to the business so it needs to be easily recognizable. Keep in mind the size, colors, and fonts while creating a logo and tagline.
- Create your brand’s voice which when connecting with consumers helps the brand to be consistently recognized on different channels.
- Develop a 1-2 sentence brand message that succinctly describes the brand and gives you an opportunity to directly connect with your consumers.
- Do not limit your brand to just a logo, tagline, or brand message. Integrate it into every facet of the business. The image of your brand reflects not only in the environment but during personal interactions as well.
- Remain consistent while building your brand. Any content from or about your brand seamlessly reflects your brand’s image. Remember, inconsistency confuses customers and acts as a hurdle in successful brand building.
- Be the biggest supporter of your brand because nobody knows your brand as perfectly as you do. Hire employees who fit your culture, help them to achieve personal as well as professional growth, and give voice to your customers – motivate them to share your content and post reviews.
The different elements of a brand are grouped into tangible and intangible ones and both are important in building a successful brand. The tangible ones include things that are touched, seen or listened to, such as the logo, brochures, letterheads, website, jingles, music, and others; while the intangible elements primarily include personality, emotions, positioning, and promises.
Key Marketing Trends to Follow
Today, the marketing world is influenced by audience analytics, automated advertising technologies, and social media. Brands determined to reach and stay on top are always concerned about the latest marketing trends and remain up to date. Here are 5 of the most promising marketing trends a brand follows to be successful:
Content which requires the active engagement of participants is called interactive content. Common forms of interactive content are interactive infographics, videos, polls, surveys, calculators, assessments, eBooks, white papers, blogs, and emails.
Artificial Intelligence in marketing is used to escalate user engagement. When AI is used creatively with Facebook Messenger or a chat box of a site, you get a better understanding of a brand’s target audience and market.
Virtual Reality has evolved as a major marketing tool for big as well as small brands. It is extremely fruitful when used sensibly to target the customers and spread the brand message.
Social Media Platforms
Social Media Platforms are definitely being considered if a brand wants to become successful because they not only increase customer engagement but also place the products and services in a manner that surely captures the customer’s attention.
You might have heard “Honesty is the best policy.” Nowadays, it is followed aggressively by all successful brands and since it is bringing amazing results, continues to be a hot marketing trend in the future. We love it when marketers describe the positives as well as the negatives of their products and services. This honesty gains customers’ trust and eventually, sales.
The Journey of a Successful Brand
Any theory or knowledge is appreciated and followed only if it is feasible. Sometimes businesses become successful by following brand strategies and sometimes, brand strategies are developed by evaluating the way a business runs (this happens in rare cases).
We understand that our readers also believe and respect the above-mentioned knowledge only after seeing its positive results. That is why we are providing you with a brief journey into one of the most successful brands ever, Nike. Read it, feel it, and implement its principles in your business.
Nike, an American multi-national corporation, is engaged in designing, developing, manufacturing, sales and marketing of footwear, equipment, accessories, apparel, and services. It was founded in the year 1964 and at that time, was called Blue Ribbon Sports. It was in the year 1971 when the name Nike evolved and after some time, its iconic logo also came into being. Let us focus on the factors which make Nike successful:
One principle Nike has followed from the beginning until now is consistency. From 1971, the brand name Nike, its signature slogan (Just Do It), its famous swoosh logo, and the quality of its products have remained the same. Brand consistency has made Nike a trustworthy name, so consumers hardly hesitate when buying its products.
Collaboration with Greats
The early marketing strategy of Nike involved collaboration with Michael Jordan, the basketball legend, to come up with Air Jordan in 1984. Globally, millions of pairs of Air Jordan’s have been sold. Nike further collaborated with sportspersons from different fields such as footballer Cristiano Ronaldo and golfer Tiger Woods. A collaboration with the correct industry professional helps a business significantly.
Constant Improvement and Innovation
One of the biggest reasons behind Nike’s success is its habit of constant improvement and innovation. Nike is never afraid to push boundaries yet remains with the times. Their ad campaigns and products reflect this.
Nike emphasizes emotionally engaging its target audience. Whenever Nike starts a fresh marketing campaign, the advertisement, poster or the product release always has an emotional touch. Sometimes it is about the world coming together or sometimes everyone is made out to be a hero. Nike successfully evokes emotions and that is why it wins over its audience.
Great Business Values
The mission statement of Nike is “To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete.” This means that Nike’s values are at the heart of its branding. Nike, as a brand, believes in inspiring those from all parts of the world. Being socially conscious, it focuses on enlightening the world.
Social Media Marketing has emerged as one of the most successful digital marketing strategies over the last decade. Social networks are used by businesses to advertise, as well as cultivate their online image. With more than 77 million Instagram followers (and the numbers are continuously growing), Nike has enhanced the consumer experience through Social Media.
There are several other elements which have made Nike what it is today. All factors discussed here, if followed thoughtfully, are capable of making a brand successful. Some might seem easy and some difficult but all of them when combined together bring success in the short, as well as long term. Always remember that building a brand is a timely process and that nurturing it is a lifetime process.