What to Consider When Setting Up a New Brand
Every brand has a story it is telling. The audience resonates with brands differently, based on their unique stories of value, hope, promise and trust. This is why, when setting up a brand, there are essentials that we must not miss out on because they set a tone for how the brand will be received, identified, perceived and resonated with by its stakeholders, target audience and general public.
If you are a Communications Leader, Brand Strategist, Entrepreneur, Business Owner or Consultant with a responsibility to support new business development, brand strategy and communications for a business entity, organization or institution, we recommend our 3rd cohort of the Brand Strategy and Marketing Communications course coming up on 27th March. In this course, you will learn how to grow your brand as an asset that enables your business or organization to achieve its full potential. Register here.
Some of the things to consider:
- Conduct a market research: This will help you understand the sector you want to play in, your product offering, who the other players in that sector are, your key customers and their demographics.
- Start with defining the foundational message: This message defines who you are and the overall essence of the brand, that is the vision statement, mission statement and contribution to society or unique selling point. What problem do you exist to solve? Often times, people need more than a good product quality to invest in your product. Your foundational message creates a brand story for your brand and if the story ever becomes negative, it can contribute to the decline in reception of your brand.
- Control your brand story: Set structures in place to monitor conversations around your brand in order to utilize feedback when necessary to improve your service delivery. Your brand story or narrative is very important in the growth of your brand, especially in today’s digital world where every consumer has access to an owned media through the ever-increasing social media channels.
- Create your brand strategy. The brand strategy is derived from the business strategy. The excerpt below is from an article by Sola Abulu, our Principal consultant on “Brand Strategy: Beyond Symbols and Icons”
“In fact, the brand strategy development process is designed to set the business up for success from a stakeholder engagement and communications perspective. It is to create space and support for the business. And it is about much more than logos and symbols. The logos and symbols are a pointer to something that is bankable, investable, marketable and profitable. The essence of that bankability is what should be captured in the brand strategy”
Read the full article here. Also, you can catch up on our previous article on Brand Equity here.
To secure a spot in our upcoming Brand Strategy and Marketing Communications Course, register here
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Sola Abulu & Associates is a strategy and communications consulting and training firm committed to enabling businesses, brands and organizations to achieve their objectives through strategic communications, organizational effectiveness and reputation risk management
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