Branding is one of the important aspects of a business, regardless of whether it is large, small, SME, retail or B2B. Successful branding helps increase profits, competitive advantage and create a group of loyal customers for the organization. But many brand development strategies have failed because of 5 common mistakes when building a business brand.
Lack of investment in product development and improvement
The most important factor in a successful branding strategy is the quality of products and services. No matter how well a business communicates and promotes, if the product quality is not guaranteed and if defects are not overcome, it cannot retain customers. This does not build consumer trust and only brings temporary benefits.
You may be interested in: Business strategy consulting
Building a business brand requires strong finances
This is a common concept among many organizations that do not really understand brand promotion. Because in essence, with the development of the digital age, businesses have many ways to build and communicate brands effectively with little cost. Tools such as SEO, SEM, Email Marketing, Google Adwords, and social network advertising are highly appreciated options for their level of success and optimal budget. This is also a trend in brand promotion that has emerged in the past few years and will continue to develop in the near future.
See more: Leadership & Management training courses
Brand identity is inconsistent
True to its name, identity helps customers and partners recognize brands, products, and businesses. Therefore, they need to create consistency in design as well as usage. Organizations need to unify logos, colors, fonts, symbols, and brand messages so that publications convey the values the organization desires. It will be very disadvantageous for businesses if customers cannot recognize it. Remember the brand due to typography and dominant colors. It can be said that this is a dangerous mistake that reduces professionalism and competitive advantage compared to competitors in the same industry.
Run sales first, build brand later
Ask the question: How to sell products? To sell products, you must first let customers know about the product and business. So this is the time to organize branding to orient the message. How to convey value so that consumers perceive and experience products and services. Therefore, it is best to build a brand right from the start of the business to gain a position in the hearts of the public and approach the expected KPIs.
Lack of consistency in communication messages
Communication messages are the content and values that an organization wants to convey to the public. Communication content needs to be consistent with product benefits and uses. The lack of consistency in communication makes customers confused about product information. Preferential and after-sales policies of the enterprise. Worse is to make users think that the product. Does not bring the experience as promoted by the business. This mistake causes loss of goodwill and does not create trust and long-term support from customers. Impact on the sustainable development of the organization.
Learn more about services: Business consulting and training
APEXCORP – BUSINESS STRATEGY & MANAGEMENT CONSULTANT
Head office: 88A Nguyen Trong Tuyen, Ward 8, Phu Nhuan District, Ho Chi Minh City
Consulting office: Business Center, Masteri Thao Dien, Thao Dien Ward, City. Thu Duc, HCM
Hotline: 0903 25 55 25
Email: info@apex.edu.vn
Website: apex.edu.vn
Fanpage: Business Doctor (Dr Biz)
