If you are starting a new business, you’re off to an unpredictable road, and every tip and successful business story can come in handy. You might already have an idea, business plan, and a vision of success, but don’t forget to learn from others’ mistakes, and let them become your own.
When starting a new business, one thing is of great importance – the more smart decisions you make early on, the better chances your business has for success. If your business idea is one-of-a-kind, it might be easier to stand out from the crowd. If, on the other hand, your product or service is similar to those offered by the competition, you’ll have a much bigger challenge ahead of yourself. Whatever the case may be, the product won’t sell itself, and the most important thing is to know how to present it.
Know your industry
As a new business owner, you’ll often hear that you should think outside of the box. Openness to new ideas can truly do wonders to your business. However, though being authentic and innovative can be a major plus for your business, there are some guidelines you should follow. If you are running your business in the finance or legal industry, don’t go too far with the choice of colors and fonts. The comic sense is probably not the best choice for the mentioned industries, but could be a good choice in the entertainment industry. Remember that your potential customers should be able to rely on your professional service whatever industry you run your business in. Your ideas should be well accepted in your industry, and more importantly, by your customers.
Know your target audience
When thinking about your product or service, you should always have in mind your target audience. Who is your desired customer or client? What are their needs and values? What kind of experience you want your customers to have when buying your product? And most importantly, what can make your product more appealing to them than your competitors’?
Once you think through your target audience and your shared values, the next step is to make sure that they hear a consistency in your message throughout all channels. Your business name, logo, and overall aesthetics should communicate the same message. Achieving consistency will make it easier for your customer to get familiar with your company, and it’s a well-known fact that with a well established brand comes customer loyalty.
Creating a strong brand identity doesn’t need to be a learn-as-you-go process. Even though flexibility is the new golden rule, there are a couple of traditional guidelines that should be followed. Before you start your branding process, check out the infographic below and get the knack of creating key elements of brand identity.