Many businesses in all around the globe face failure due to their poor branding. Business research institutions indicated that, among all of the business failures, one-half are the ones who turn a blind eye and deaf ear towards the significance of brand management. Basically, brand management is the branch of marketing which deals with the promotion of a brand’s specific goods or products. When word branding is generally used, people perceive it as very large setup or entities like Pepsi or so. But building brand for startups and small organizations plays the role of a lifeline. Brand management process involves authentic care and mere attention, however, some common mistakes which are usually observed are:
- Poor brand name:
The business name is the first and foremost step in your start up. Name depicts the actual service, identity, purpose and promise which you are offering to the public, if you decide a business name which is repetitive, mainstream or irrelevant can do no good for your brand. Similarly, the brand name can’t be very complicated or it can’t be a cliche at all, keep it simple and unique otherwise see your business reaching the new lows. Imagine a company providing link building services in Canada but named itself as Miami SEO, would it be a rational step?
- Less attention on segmented branding:
Focusing solely on generic branding instead of specified niche based and segmented branding could be deadly. All the major and big brand names formulate different marketing and advertising strategies for a different group of the population. For example, if your brand is selling a luxurious product then promotion has to be in a rich and elite class area and it cannot be done in a relatively less privileged area. Similarly, if a brand is selling toys then target audience should be kids and not the senior citizens. Lack of segmented and specified branding is the backbone reason for the decrease in a number of sales which ultimately could lead to forced closure of the business.
- Online absence and ignoring social media’s value:
Today is the era of internet and social media and it can be a perfect advertising medium due to its large occupation by the youth. For a business, if it has to be flourished, must show its online presence through an official website and social media accounts. And not only presence in the online world is necessary but there has to be consistent updating with the new developments in order to remain in good books of potential customers.
- Disregarding analytics:
In addition to all the other elements, digital media has a great facility of analytics which helps in keeping an eye on all the data tracking and insights according to different specifications and targets. This can ultimately facilitate in making things convenient for the formulation and implementation of business strategy.
- Blindly following the big names:
If you are impressed with a big brand of any kind, that’s good, but never try to copy the idea in the exactly same way and never dream the same sort of fame right at the start. One must remember that the names which are pioneer right now have had to commence the business right from the start up process. That’s the way to excel, dream big but be wise and realistic!
Abi Cool is the Director of Search at Marketing Wind – (Miami SEO Company) and is an experienced SEO Outreach expert and advertisement specialist. His interests lie in Digital Marketing Management. He is an internet marketing enthusiast and his specialty is in search engine optimization outreach and content marketing.