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  • Viknesh Kastor

Perspectives: 5 Branding Myths Debunked

From Entrepreneur.com



Branding a business is not an overnight process with results to show for instantly as many would like it to be. It is a process that take time to formulate and implement for any business. And with this, the additional consideration of properly executing the transition from your old brand to a new one. This article from Entrepreneur.com titled 5 Branding Myths Debunked aims to prevent the unnecessary mistakes one makes when he/she isn't well versed in the art of Branding.


We present The Action Plan's Squeeze on Debunking the debunked myths of Branding.


Our Squeeze:

  1. Focusing on the features aren’t everything. Even businesses with brilliant high quality products and services  failed since no one saw the ‘value’ in them. On the flip side, businesses with products and services of satisfactory standards through Branding, have made their success and are able to charge a premium on top of that. It is best to focus on all aspects, products and services, the quality, cost, marketing and branding to name a few, to leverage on them to communicate value to your target audience.

  2. Spending big bucks on advertising aids in brand maintenance, but not building a brand. Look at the other channels to develop the credibility of your business with a well executed campaign does wonders, instead of splashing your funds on ineffective ads.

  3. Word-of-mouth referrals are a powerful tool to get your business going contradictory to what the author thinks, but relying on it to kickstart your business may be wrong. Instead, focus on touch points such as blogs to deliver valuable content that people can relate with to develop a sense of trust in your business first to amplify quality referrals for your business.

  4. Daily marketing: Doing things to build your brand, push your brand out, capture the attention of potential customers and doing whatever it takes to get your brand noticed. Use tools such as a blogs, writing brilliant articles like this, a new website and emailing  potential clients to build brand awareness.

  5. Branding your business is not an expensive affair when it is planned, as it is with most primary necessities in the running of a real business. Plus, with a bit of creativity, leveraging on plenty of tools online and meeting the right people, you can be well on your way to pushing your brand to the next level if you are cost conscious.

And while we are at it, here at The Action Plan, we love Igniting Brands and Inspiring Trends.

Click the link here to read more on 5 Branding Myths Debunked by Entrepreneur.com


Source: Entrepreneur.com


© The Action Plan


Sources:

Hall, S. (2009, May 28). 5 Branding Myths Debunked. Retrieved from: http://www.entrepreneur.com/article/201918

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