Entrepreneurship 101: Building Your Brand

Lesson 8: Building Your Brand

/en/entrepreneurship-101/getting-your-ducks-in-a-row/content/

Building Your Brand

A marketing strategy aims to spread the word about your business. As people start hearing the buzz, you'll want to build your reputation and establish trust.

Your brand refers to your company’s image. If customers have a positive perception of your brand, this will in turn attract other customers. 

So how can you grab their attention? This is where your creativity comes in. Here are a few steps for laying the foundation of your brand:

  • Brainstorm a catchy name. Your business’s name should be unique. This is key not only so that it’s memorable, but also for legal reasons. Brainstorming name ideas can be a fun family activity, too!
  • Write mission and vision statements. Revisit your company’s short- and long-term goals. Whereas your mission statement focuses on what you’re trying to accomplish on a daily basis, your vision statement focuses on what you’re hoping to accomplish in the future.
  • Think about your visuals.  Visuals are the things associated with your brand, including your logo (or trademark symbol), colors, and style of text. Unifying these elements will help you to build a unique brand identity. You can also have an artistic friend assist you with this step or hire a graphic designer.

Marketing Channels

To start building your brand, you need to decide which marketing channels you'll use. Marketing channels are the ways that you communicate with your customers and persuade them to buy your product or service. They are designed to increase your visibility, or get your company noticed.

Traditional channels include billboards, print ads, paper mail, and TV/radio commercials. Think about including your logo or maybe a catchy slogan that has a ring to it. Traditional channels shouldn’t be overlooked and can be great ways to reach your customer base. 

While traditional channels have been around for years, digital channels can definitely give you an advantage in today’s tech-driven world. Digital channels include blogs, social media, online ads, emails, and SEO, or “search engine optimization.” If most of your buyers come from a younger generation, then it’s a good idea to connect with them digitally.

Many entrepreneurs rely on a combination of traditional and digital channels to market their business.

Regardless of which combination you choose, one aspect of marketing that’s essential is building a company website.

Why is having a website so important?

A website is an excellent tool for increasing visibility. It’s also one of the most useful platforms for sharing information with your customers.

Besides including your company’s logo and mission/vision statements, you can also post prices and how to get in touch. 

It’s worth taking the time to make your website visually appealing and user-friendly. If you need help building it, you can always hire a freelancer or an agency. If you don’t have the time to maintain it, you can recruit a webmaster, or a person who runs your website. Sometimes a webmaster will also assist you with social media. You can watch a video about creating a website for your business here.

We’ve learned a lot about attracting new customers through marketing. But as you build your brand, customer loyalty is equally crucial. These are your buyers who return to do more business, and you should provide them with incentives, or motivations, to keep coming back.

How can I create customer loyalty?

  • Focus on quality. It’s easy to get carried away with quantity—like how much you’re selling, or how many customers you’re getting. But good quality will help to sustain steady growth and build your reputation.
  • Offer a loyalty program or discounts. A loyalty program allows returning customers to rack up points, and eventually they’re rewarded with something free. You can also provide loyal patrons with discounts. After all, who doesn’t love a good deal?
  • Stay active in the community. Take advantage of local or online events. These events are opportunities to increase your company’s visibility. You can set up a booth, attend a conference, or participate in a fundraiser. Giving back to the community—such as donating to a cause—shows customers what you truly value.  
  • Provide excellent customer service. This demonstrates that you care about whether your buyers are satisfied and have had a good experience. You can invite them to provide feedback at your storefront, or include personal assistance (like a chatbot) on your website. You can also implement a return/refund policy.

The Human Connection

Customer loyalty is not just about building your brand or growing your company. When your buyers appreciate you going the extra mile, you realize that your product or service is bringing value to their lives.

And ultimately, it’s the human connection that will make your hard work feel worth it. 

/en/entrepreneurship-101/technology-for-your-daytoday/content/