Most businesses, marketing and advertising companies make good use of brand in creating the awareness of the products they have. Brand is a name, symbol, term or design that shows the difference between a product and an organization from its rivals as seen by the customer. This paper will discuss the key components of a brand, factors that drive the performance of brand in marketing today, essentials in building the brand and finally will discuss why monitoring and measuring the effectiveness of the brand is so important.
When developing a brand, there are certain components that should be considered in order to create a successful brand name. These components include: consistency, loyalty, purpose, emotion, flexibility, employee involvement and competitive awareness. Consistency requires that one talks about the things related to the brand. Consistency helps in the recognition of the brand and helps in getting loyalty of the customers. Being loyal to the customers enhances the relationship between an organization and a customer. It is important that a customer receives a message or an email from an organization once in a while. Since every brand makes a promise, it is important for one to distinguish the product from others by making the brand to have a purpose. A strong brand should attach emotion in the sense that; a customer feels the emotional attachment with the organization. A good brand ought to be flexible in order to make adjustments from time to time. This helps in building interest and showing different approach in branding from that of competitors. Competitive awareness means that one is aware of the existence of the competitors and takes the challenge from the competitors positively to strategize and build a logo. Furthermore, the type of font used in branding really matters as this will determine what please the customers. Some fonts are eye catching and entertaining while others are too plain to attract a reader (Levine, 2013).
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There are some factors that drive the performance of brand in marketing today. These factors include: one, analyzing the competitors around since the target market is same. Once the competitors are analyzed, one can easily fight the competitor to ensure that the brand performs better than the one for the competitor. Two, focusing on the logo of the brand so that the logo sticks on the customer’s head; this can be made possible by distributing the logo on all the products that one has. Three, upon developing a healthy brand’s reputation, one can easily distinguish a successful brand from a mediocre. This in turn helps one to focus on the customers more. Four, understand the target market so that one is able to know what they would prefer and at what price.
In building a strong brand, the following are essentials that need to be considered: one, the target market. The brand identity should be focused on taste and preference, needs and lifestyle of the target market. This can be easily made possible by getting customers information first. Two, while building the brand, define the story of the organization. Defining the story encompasses focusing on the mission, vision and values of the organization. Third, brand through association whereby one puts into consideration where the product will be sold or the venue of the company as one is building the brand. Four, get brand ambassadors to build loyalty with the customers. This can be possible by using ambassadors to talk to people about the brand then in return; the customers refer potential customers to the organization. Five, go deep but stay consistent. The wording should be easily comprehended and compelling to the customer but sticks to what is being branded. The quality of the brand is also considered. This is related to the manner in which the product satisfies the customers. A strong brand is one that can satisfy most of the customers (Levine, 2013).
Monitoring and measuring the brand can be done via the social media. Measuring is important for benchmarking as well as tracking of record over a certain period of time. This helps in doing comparisons with other competing markets through tweets and blogs. Once the information is distilled one is able to make an insightful move. Again, tracking of records helps person or organization helps in determining how far one is from achieving the goals and thus will strive to make the brand to be more effective. On the other side, monitoring helps one to protect the brand from negative talks as one keeps listening to comments from the customers and responds to them immediately. An organization can perform social media surveys in order to establish the perceptions or opinions of customers about the brand. Apart from social media surveys, an organization may also engage in telephone interviews or focus groups with customers to get to understand the psychology of the customers when the brand is considered (Levine, 2013).
In conclusion, branding is very important in promoting the reputation of a company or an organization. There are essentials in building a branding that one has to put into consideration. It is also important to take keen note of the components of a good brand as one is building the brand. More importantly constant measuring and monitoring of the brand is important. This can be made possible through social media by checking the tweets and blogs to know the comments people have about the brand. It is important for an organization to have a strong brand in order to ensure its competitiveness.
- Levine, M. (2013). A branded world: Adventures in public relations and creation of superbrands. New York: John Wiley & Sons.
