A lot of entrepreneurs focus on creating businesses that generate an acceptable level of profit. When they lock themselves into a business model like this, it becomes hard for entrepreneurs to diversify outside their conventional and known business practices. To break out of any preconceived notions that customers have about a business, entrepreneurs need to focus on creating a brand rather than a business.
Why A Brand Rather Than A Business?
A brand often comes with the independence of not being tied up in a single business model. If you look at most tech companies and brands, for example, they do not focus on creating the best mobile phone or laptop. Rather, they have an array of hardware and software solutions that all fall under the umbrella of their brands. If an entrepreneur builds a brand rather than a business with a locked-in business model, such diversifications become very easy to do.
Creating A Memorable Brand
One of the most important things to remember is that creating a brand takes a lot of time and money, especially if an entrepreneur is looking to build a memorable brand. One of the best places to start is by researching your competitors. An entrepreneur needs to understand the gaps that exist in the market to fill them.
Second, have a clearly defined business idea and direction. A brand that is not guided by firm business ideas is much more likely to collapse. By defining a business in a clear-cut manner, entrepreneurs make it easy for their customers to identify them, which makes the road to building a memorable brand that much easier.
Third, a business must reach out to existing and potential customers. Research has proven that people remember businesses and brands that they see often. Therefore, a lot of international companies constantly bombard the masses with advertisements on the internet and other platforms, such as cable TV. It, therefore, follows that a business that wants to be memorable has to advertise often and aggressively.
Besides TVs and other local media, businesses can also use LED mobile billboards. These are inexpensive billboards that are mounted on trucks and can provide targeted local advertising. Online advertising can target potential international customers who might be interested in the online side of the brand.
Consistency Is Key
Some of the biggest brands in the world have gotten to where they are because of the consistency in their branding and messaging. When building a memorable brand, entrepreneurs should use the same colors, fonts, logos, product presentation and storefront arrangements. Consistent branding ensures that customers learn to associate certain looks and feelings with your brand the same way we associate snow and the color red with Christmas. A consistent messaging, when used together with consistent branding, can go a long way in making your brand both recognizable and memorable.
A brand has much more potential for longevity and growth than a simple business. The key to ensuring this longevity and growth lies in how a business positions and brands itself to be more recognizable and memorable.