KORPORATE TRENDS NEWSLETTER, VOL 2, ISSUE 4. October 2014
BRANDING; STRATEGY FOR PROFITABLE GROWTH
Many years ago during my childhood, my late granddad would take me to the farm where he cultivated crops from which in those days, he found his livelihood. It felt like hard graft but I was most intrigued at how seeds, stems or tubers germinated from the ground and blossomed into leaves, vine
Of course money doesn’t grow on trees but through the exchange of goods, services or in some cases, favours. When launching any new business one of the most important things to think about is how you want to be perceived by the outside world, your prospective customers. Just like the seeds, businesses do germinate and grow once initiated, and your brand is a vital part of your growth.
Consider what image you want your new venture to project, not just for the first couple of months or years but in the long term.
Rebranding is not something
you want to be continuously doing once your business is up and running, so it
is worth spending time and energy on this in the early stages. People often
take things at face value, so image is hugely important. Things like your logo,
website, premises and location are all part of the message you are sending to
potential clients and customers. Any startup company with serious ambitions for
the future should be sending out a statement that tells the marketplace a
high-quality new business has arrived on the scene
The brand image you will need to project will depend on the type of business you are launching and where you want to position yourself in the marketplace. A local family-friendly “Food-is-ready” cafe, for example, is going to appeal to a very different market than a high-end restaurant. If you were launching a small local cafe, the ambience will be set for people ready to dash in and out quickly. If you are hoping to attract the locals, a high-spec finish may alienate customers as it wouldn’t feel particularly accommodating for folks, whereas a high-end restaurant is more likely to need an exclusive feel with a slicker finish. If customers are coming for a special occasion they want to feel like they are experiencing luxury and something different from the norm.
It is important to remember that you and your employees are representing your company’s brand every time you interact with customers or stakeholders. You are your business’s best ambassadors, and should encompass your company’s brand and vision.
Branding and image should never be an afterthought – before you
are ready to launch into any venture, spend time thinking about your company’s
vision, think about how you want to be seen by the outside world. The image you
project will have an impact on all aspects of your business, everything from
premises to the clientele you appeal to. If you don’t have a clear brand identity
potential customers will be confused about what you offer. You can build a
valuable brand by branding what is great and different about your business.
- By Omoefe Siakpere
Editor in Chief,