Posted on 01 May 2010.
Branding means to create an identifiable entity which makes a promise of value. This term is largely used in the business world. Through branding you can create an image or an awareness of your business. It is your company’s personality. The following are the top 10 most common mistakes when it comes to branding.
1. Inability to think analytically.
Many companies treat branding as marketing or as having a logo or a catch phrase. It has got to do with more than just grabbing attention. A brand enables you to grab client’s attention on a consistent basis. Branding also represents something that cannot be got from your competitors. For instance it can be offering the best customer service in your industry.
2. Non-maintenance of your brand.
Businesses tend to alter their identity very often in a shaky economy. This can confuse steady customers. You must think of big brands — Nike, for instance, who made use of “Just Do It” as a logo for several years. It takes a while for your logo, tagline, and branding efforts to sink in with customers. Hence you must not change it very often.
3. Trying to please everyone.
You cannot brand yourself in such a way that it appeases everyone. What you can do typically is concentrate on the niche market for your product.
4. Lack of knowledge of who you really are.
You must not profess to be someone who you really are not. Several entrepreneurs imagine that they are offering something that they don’t. You must make a honest analysis of your strengths and weaknesses of what you can do best.
5. Lack of wholehearted commitment to branding.
Most often than not business owners allow the advertising and marketing department handle such things as “branding,” while they turn towards working on sales aspect and other such things. But branding and sales are also important aspects of your business. Smart branding has made several Fortune 500 companies to a great position and have made them household names.