Secrets for Launching a Brand in 2021 and Beyond

Last updated on February 15, 2023

Secrets for Launching a Brand in 2021 and Beyond

According to extensive data from the United States Bureau of Labor Statistics, 20% of startups fail in their first year, 45% within five years, 65% within ten years, and 25% survive for up to fifteen years.

Despite having such a small chance of survival, 4.3 million startups were formed in 2020, and over 2.81 million startups have already joined the market in Q1 and Q2 of 2021.

If your business must rise above its competition and other generic companies in your industry, you’ll need to understand how to build a strong brand identity.

Three Powerful Tips for Branding in 2021 and Beyond

• Begin by Researching Your Target Customers

You can only build a strong brand identity if you have a solid client base. Many business owners mistakenly assume that branding is only about marketing. But regardless of how hard you market your company, it’s your customers who’ll push it to success.

One way to brand your business so customers would love to engage with it is to involve them in your product’s development/improvement process, and also in the creation and application of your brand’s values.

All of this, however, is only feasible if you have a deep grasp of your target customer’s demands, how they react to your products and services, and how they view the brands and products of your competitors.

• Build a Powerful Brand Identity

Every company has a personality, and your brand’s personality embodies what it says, what it stands for, how you present your product, and how you want people to feel when they interact with it.

Your brand’s identity isn’t just your company’s personality but also its promise to your target customers. So, if you want your business to remain competitive, ensure your brand’s identity is evaluated and modified on a regular basis to ensure that it continually delivers on your company’s fundamental promises to customers.

Use Google Analytics, customer surveys, reviews, and social media discussions to track your company’s growth. This will show you how customers communicate about and interact with your brand and help you identify who they are.

• Choose the best name for your company

A strong brand name will set your company apart by successfully communicating your brand’s identity, purpose, vision, and goals. Coca-Cola, Beyond Meat, Apple, Tesla, and Gucci are just a few instances of well-known brands with unusual names.

So, now that you’ve gathered vital information about your target audience and established a strong brand identity, it’s time to unleash your inner creativity and search for unique and compelling words that meet your company’s naming needs.

We know how difficult it can be to come up with an appealing brand name, but it doesn’t always have to be that way because enlisting a team to assist you in naming your business can make the process much easier.

Gather a team, give them every necessary information about your business and encourage them to brainstorm and generate words that’d represent your company. While brainstorming, allow your team to use dictionaries, thesauruses, and other tools that’d help them come up with the most intriguing and engaging words.

Remember, the idea here is to come up with a list of names that are both relevant to your company’s goals and appealing to customers.

But if you don’t have a team and generating a list of great names seems tough and time-consuming, feel free to use a powerful business name generator.  

Secrets for Launching a Brand in 2021 and Beyond. Apply Wisdom When Growing Your Business

Don’t fall into the same pothole as most entrepreneurs who’re hell-bent on pursuing rapid business growth that they neglect other critical parts of their business. 

If you expand too quickly, you risk losing sight of your company’s finances, overvaluing sales, making key blunders, failing to employ the right people, not extending your customer service capacity, and losing your brand’s fundamental identity.

Author Bio:  Grant Polachek is the Head of Branding at Inc 500 company Squadhelp.com, the world’s #1 naming platform, with 30,000+ customers from early-stage startups across the globe to the largest corporations including Nestle, Philips, Hilton, Pepsi, and AutoNation.

Disclaimer: This is a guest contribution to Philipscom Associates and the tips tricks, strategies, views, etc. mentioned in it does not reflect the view and opinions of P V Ariel or Philipscom Associates. Opinions expressed by Philipscom contributors are their own. For More Information Read This

 

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