The success of your business greatly depends on building a powerful brand concept. Competition is very high in the market, and to make your mark — you need a powerful brand concept.
A powerful brand concept determines the strength of your brand identity and, ultimately, the success of your business.
What should your brand look like? How will people feel about it? Will it relate well with your target audience? You should ask yourself such questions when building a brand concept for your business. What should your logo look like, and how do you find a logo for your business?
Research shows that 59% of consumers prefer to buy new products from familiar brands. As a startup, you need to create a powerful brand concept before launching your business.
But first, you need to understand the meaning of a brand.
What is a Brand?
Jeff Bezos, the founder of Amazon, defines a brand as what people say about you when you are not in the room.
Likewise, a business brand is what people perceive about your business.
Your business brand comprises of business name, logo, colors, fonts, voice, product, and reputations.
5 Steps You Should Follow When Building a Powerful Brand Concept for Your Business
#1 Identify the Purpose of Your Business
A successful brand should have a purpose behind it.
Identify the reason you want to start your business. Every business aims to fulfill a market gap by providing a solution to consumers. Define the problem you want to solve and the reason why you’re better than the competitors.
A well-defined business purpose forms the foundation of building a powerful brand concept.
The Golden Circle concept by Simon Sinek can help you to identify the purpose of your business. It consists of three parts:-
- The What – The solution you are offering consumers.
- The How – What sets you apart from your competitors?
- The Why – The reason behind your business existence.
According to Simon, people don’t buy what you do. They buy why you do it. Your goal should be to do business with people who believe in what you do.
#2 Define Your Target Audience and Research Competition
The next step is doing market research to define your target audience and research your competition.
People need different things, and so aim to fill their needs. But not all people want the same thing at the same time. Match your product with the right audience who needs it.
Study what others are offering in the same industry you want to enter. Find something that can set you apart from competitors. Aim to be better than them so that your brand can be successful.
Finally, do a SWOT analysis to pinpoint your strengths, weaknesses, opportunities, and threats.
- Strengths are the advantages you have over your competition.
- Weaknesses are the characteristics which are a disadvantage to your business.
- Opportunities are the market gap and trends that bring new business openings.
- Threats are factors that might threaten your business.
#3 Choose a Business Name and Logo That Speaks Your Brand
One of the first big brand commitments you will make is your business name. A business name influences your logo, domain, trademark, and marketing.
The name you choose should be unique and hard to imitate. If you are planning to diversify into different industries, avoid a product-based name — choose a broad name.
Remember to confirm if the name you choose has any available domains left. Test the name with a private group to get different views and feedback about its effect.
You also need to create a mission statement that clearly shows the audience the value your business provides them. The statement is crucial because it affects other brand pillars such as logo, brand voice, tagline, slogan, and brand personality.
#4 Choose Color and Fonts which Represent your Brand and Logo
Colors are not just for aesthetic value, but they also convey a feeling to your audience. Choose colors that differentiate you from competitors to avoid confusing your consumers.
Color psychology can help you to choose the right colors that speak your brand.
The fonts on your website also matter. Pick two fonts, one for the headers and one for the text. However, these fonts should be different from the ones you plan to use on your logo.
# 5 Design Your Business Logo
A logo is the face and identity of your business. It appears on anything related to your business, and it what consumers associated with your brand.
A logo shouldn’t be just a logo — it should be unique, easily recognizable, and usable on different media. Invest money and time to get a logo design that can help your brand to grow.
You can design your logo by using an online logo make. However, they don’t allow you to fully customize your logo. You can also hire a professional logo designer to get the best logo that truly represents your brand. An expert logo designer will provide you the following:
- Color palette
- Logo size and placement
- Web elements
- Typography and fonts
- Photography or image style
You can find professional logo makers online. When choosing the best logo designer/maker, check for a good reputation, the files you will receive from the maker, and their logo designing process.
A good logo maker should understand your business purpose, brand voice, mission, and be able to transfer these to the logo design. They should also be able to provide you with several drafts to choose from and give you full copyright to the logo design.
Build a Successful Business by Creating a Powerful Brand Concept
Do you have a business idea, but you don’t know where to start? Well, start by building a powerful brand concept that will guide you in launching a successful brand that can compete in the market.
Your idea is the purpose of your business, as you already have identified a market gap. Research your competition and understand your audience. Then create a business name, slogan, mission statement, and choose your brand colors.
Finally, design a quality logo that fully represents your brand, and you are now ready to launch your brand.