If a brand is the key to business success, then what's the best way to establish a brand and build its identity? Moreover, as your business grows, how do you expand the brand into new services and revenue streams? In this column, we'll examine why a brand is important, along with steps to create a brand identity that will resonate with your current and future customers. 1. Brand and Brand Identity - Not only is your brand the foundation of your business, but it's also the cornerstone of its future expansion. Brand identity, however, is how you want your target market to perceive your company, product, services and brand. Much like a value proposition, brand identity is continuously built upon as your business grows and expands. By continuously living your brand identity - internally and externally - your staff, procedures and communications stay aligned. This strengthens your brand and distinguishes it from the competition in the minds of your customers and team members.2. Spreading the Word - Once established, communicate your brand consistently - both verbally and graphically - to your target markets. All aspects of your marketing and public relations (website, news releases, social media, direct mail, advertising, etc.) should link back to your brand and brand identity.3.Expanding your Brand into New Revenue Streams - As your business grows, you might start new complementing companies or services, such as residential pick-up and delivery. One option is to use multi-branding, in which a different brand name is used for every service you offer targeting a different market.
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