The Importance of Understanding Your Brand

Most people think of branding as an external concept created by a marketing firm or a pricey consultant that includes logos, color schemes and catchy taglines. The truth is branding is the sum of everything you are as an entity and is built strategically and internally.

So, what exactly is your brand, you ask?

Your brand is the emotion or solution point that your company evokes in others, in other words it is every single interaction the client has with your company and what they experience before, during and after their transaction. These two steps will guide you to a clear brand structure:

#1) Evaluating Brand Value

To understand your brand, you must have clarity about the personality of the business. The characteristics that are unique to only your enterprise are known as your Brand Value (BV). The three ways to discover your BV are:

Identify your expertise, specialty or niche in the marketplace.

Define 3-5 unique qualities that separates your from the competition.

What absolute truth do know about your business.

#2) Psychographic Segmentation

After defining your Brand Value, a psychographic analysis should be conducted to segment and understand the right target market or your “tribe.” A tribe, you say, what is that? Your tribe is a group of clients who are emotionally connected to your brand and its solutions. Through this analysis, you learn the pleasure points (things your tribe likes) and pain points (things your tribes dislike), their age, socioeconomic status and overall thought process. All this information compiled will give you the ideal client or model client, if you will which will be extremely important when preparing to penetrate your target market.

• Understanding the key values in the mind of your customer

• Knowing how to put the customer's values into your product or service

• Effectively associating your brand with those values

• Your brand resides within the hearts and minds of customers, clients, and prospects. It is the sum total of their experiences and perceptions, some of which you can influence, and some that you cannot.

A strong brand is invaluable as the battle for customers intensifies day by day. It's important to spend time investing in researching, defining, and building your brand. After all your entire brand is the source of a promise to your consumer. It's a foundational piece in your marketing communication and one you do not want to be without.

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