5 easy ways to develop a brand identity for your business
James Pruden
Managing Director at Xigen, Business Investor, Digital Expert & Entrepreneur.
When you hear the words 'just do it', what's the first thing that comes to mind?
I'm guessing a few readers' minds may go somewhere a little salacious, but I'll bet good money that the majority of you will think of Nike.
Interestingly, did you know that a graphic design student created the Nike Swoosh? Carolyn Davidson was paid $35 for the logo in 1971, which was the going rate at the time. However, you'll be glad to hear she also got stock in the business, worth a staggering $4 million today!
A good brand identity is essential for prospective customers to remember your business. Think of the McDonald's arches, the Intel Pentium 3 jingle, the blue and yellow Ikea bags. One tiny snippet of these brands is enough to make people nod their heads, snap their fingers and go, 'Yes! I know which business that's all about!'
And the good news is that you can develop a similar brand identity for your business too.
What is brand identity?
Brand identity is the collection of elements you use to make your business stand out in the marketplace. This includes:
Think of all these different elements like bricks. The stronger the individual parts, the bigger and more powerful your brand identity as a whole.
A solid brand identity helps customers (both new and existing) recognise your business, builds credibility and trust, and differentiates you from your competitors.
Here are five simple ways to create a brand identity that Steve Jobs would be jealous of.
1. Know your target audience
I appreciate that this is something I mention in pretty much every article I write on LinkedIn, but it's with good reason.
When you understand the audience you want to connect with, you can create a brand identity that resonates with their interests and values. And nearly 90% of shoppers stay loyal to brands that share their values.
Take the typical target customer for a brand like Patagonia. Passionate about the great outdoors, socially conscious and environmentally friendly, loves trying new things. By creating a brand identity in line with their needs and desires, it's no wonder that Patagonia is one of the most well-known and well-loved outdoor clothing brands in the world.
So before you start looking at colour swatches for your brand, consider your target customer . Develop a customer persona, speak to your existing customers, check out your competitors, and hand out surveys like they're going out of fashion.
2. Look at your competitors
Let's take a moment to compare Samsung and Apple. Technology companies? Check. Minimalist brand identity? Check. Target audience of tech-loving customers with money to burn? Check.
These two companies have a very similar brand identity, which has been both a boon and a burden. There will have been a lot of times when shoppers have bought an iPhone rather than a Samsung, and vice versa. However, the similarities have also helped each business create strong brand recognition and find new customers.
It's important to review your competitors when determining your brand identity. While you don't want to be a carbon copy of your nearest rival, having a few things in common can provide reassurance to customers.
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3. Be authentic and honest
Did your parents or grandparents ever tell you to always tell the truth? The same logic applies to your brand identity. If you try to be something you're not, chances are that you're going to get found out.
For 60% of customers , trustworthiness and transparency are the most important traits a brand can have. When you're credible and reliable in the eyes of shoppers, they're more likely to stay loyal to your business.
Let's look at Coca-Cola in the 1980s. In an attempt to come off as young and trendy like its rival Pepsi (more on Pepsi in a bit), Coca-Cola decided to reformulate its key product as 'New Coke'.
The only problem? People absolutely hated it, and sales took a massive nosedive. Just 79 days later, Coca-Cola relented and brought back its original recipe. By trying to be something it wasn't in the eyes of its loyal customers, Coca-Cola lost out.
If your brand identity is at odds with what you do as a business, you might need to take a step back and reassess.
4. Ensure your brand is consistent
When you're a business of just one person, it's relatively easy to ensure your branding stays consistent.
However, when you add extra people into the mix, ensuring your brand identity stays the same across all your marketing channels can become more challenging.
A business with consistent branding can experience up to 20% growth and 33% more revenue, so it's vital to get it right.
Conversely, a misstep can prove problematic for your brand. Let's take Pepsi's infamous commercial with Kendall Jenner in 2017. The advert was massively derided, not just because it trivialised Black Lives Matter, but because it was at odds with Pepsi's fun and playful brand identity.
The best way to ensure a consistent brand identity is through a brand guidelines document[KI1] ?. This document outlines your values as well as how to use your logo, colour palette, and typography properly. It ensures everyone in your business and third parties are on the same page when representing your brand.
5. Continuously monitor and review your identity
The best brands grow and evolve over time. Take McDonald's. It started as a low-cost restaurant for families, and then moved to focus on teenagers and young adults. Over the last decade, it's moved towards appealing to health-conscious adults and families, with a menu to match. Less Big Macs, more little salads.
It's essential to keep an eye on your brand and adapt your identity to suit your ever-changing target audience. Brand equity is a great way to keep tabs on the value your current brand brings to your business and see if there are any changes you need to make.
All businesses, from the largest international mega-corporations to the smallest localised eCommerce stores, need to be aware of their brand identity.
Know your target audience, stay consistent, and don't be afraid to adapt, and you'll reap the benefits.
And if you need help unravelling your brand identity, my DMs are always open.
?[KI1] One of the upcoming articles for the Xigen website is for a brand guidelines document, so could be a good link here