Why Is It Important To Build A Brand Around One Idea?
Every entrepreneurial venture, every company, and every business house needs to build a brand. It’s one of the most important factors that determine the success of a venture. A brand can be regarded as a culmination of the identity of the company, and is presented in a familiar and pleasing way so as to attract customers.
As an entrepreneur, you need to know one thing very well – if your business has a great idea to build a brand, you need to make sure that the branding reinforces that very basic idea on which the business is focussed. Coming up with a great idea isn’t much of a problem; what actually causes trouble is the proper execution of such an idea.
With the immense amounts and platforms for advertising your products, it becomes quite difficult if you go with a very general branding, such as “marketing”. That’s where it becomes very important to build a brand around a singular, strong concept, thus developing in a specific niche. This is because with a small and niche focus, your opportunities to showcase your idea would be greater.
While there are many who would consider a specific, narrow and niche focus a big hindrance to success and growth of the brand, it might prove to be an asset after all. Small entrepreneurial ventures don’t have a resource support as strong as the larger business houses. In order to build a brand, fixing your focus on what your company can do best, and what sets it apart from others might prove to be hugely beneficial for your company; it allows your organization to improve your product, and address subtle yet critical differences that might go unnoticed in larger competitors. This is because the larger companies need to focus on many product lines, and you only need to focus on one.
In the year 2005, Box.com became one of the first companies that allowed business and individuals to avail its cloud-based sharing and content management features. Though Google and Amazon had also offered similar benefits, Box.com iterated the fact that it only focused on this and thus was the best at it. Bonobos is another brand that could be aptly placed in this article. Before it became the omnichannel retailer dealing in huge annual revenues, it was a brand that focussed on only making pants that would fit men. It created its niche market for the same, gaining people’s trust along the way. That trust has propelled them to making outfits that aren’t just limited to the lower half of the body.
When you already have a great idea in place, you need to translate that idea into a successful brand. According to Steve Jobs, “Innovation is not about saying yes to everything. It’s about saying no to all but the most crucial features.” Your customers should know clearly what your brand stands for and how they are going to benefit from it. Content marketing has always been the best way to build a brand and its reputation online. Starting your own blog as well as guest blogging could make you a trustworthy source of information, and that would automatically make you an expert in your niche field while helping you to build a brand as well as an identity. Social media is great to build a brand’s image. You should make sure that all your social media profiles, be it Facebook or Twitter or anything, go in line with your brand standards. Posting regularly about newer stuff would definitely do the publicity stuff for your brand.
Whether on the social media, or in the real world, the main key to rapid and sparkling growth of your brand lies in networking. You should make it a point to connect with anyone who can help spread your message about your expertise and help build your brand. Taking part in professional networking events and online community discussions helps you know details about how to go about with the networking of your brand, and you would also get a chance to meet strong influencers who could propel you to success.
Having your brand built around a single strong idea is great. Personal branding can be thought of as a garden, wherein you prepare the ground and lay the seeds, and eventually you would see those reaping benefits. However, that too requires a great amount of dedication and care. Focusing on a niche idea in order to build a brand would effectively mean cutting out a wide consumer base, but it also does convey the message to our clients that we are only looking out for them. And these customers would then reward your niche focus with their loyalty, which may be termed as a company’s most prized asset.