5 Major Branding Mistakes that Can Prevent Your Business from Growing

Have you ever thought about why your company seems to remain stagnant despite numerous efforts on your part to try to take a bigger piece of the market? The problem may have something to do with your branding.

Whether you’ve realized that your branding is all over the place or that the brand you’ve defined isn’t representing your company properly, the next thing you need to do is reassess where you’re at.

The main goal of creating and managing a brand is to ensure that people know who you are and for them to believe that you’re the best in whatever you do. To succeed in establishing this impression, it’s important to know the five major branding blunders that other businesses have made before.

1.   Not Knowing Your Competitors

Knowing your competition will not only help you get a feel of your odds but also give you a chance to do better than them. This is particularly useful for budding new companies.

Make sure you research what they have accomplished so far and use it to your advantage. Some of the vital information you should find will include their shortcomings and failures, their successes and triumphs, and the aspects where you are at an advantage. To do this, you must also check out their offerings, target market, social platforms, and websites.

Failure to do so could lead to devastating results for your company. To be more specific, it could lead to you misjudging your competition and/or copying those of their strategies that don’t actually work.

Remember that an effective brand should reflect who and what you are. This means that a brand should be created not to become a multi-million-dollar company but to exude an air of excellence and authenticity that will pave the way to success.

2.   Not Having a Clear Target Audience

The target audience will dictate how you present your brand. After all, they are the ones who will consume promotional paraphernalia you’ll be producing later on.

Knowing your audience will help you adjust according to their preferences, giving you a better chance of getting remembered in a positive light. Aside from their basic demographics (i.e. age, gender, race, etc.), you should also know what they need and expect, as well as the things they favor.

3.   Trying to Be Everyone but Yourself

This scenario happens too often: one company comes up with a brilliant branding strategy that pushes it to triumph, and everyone else follows suit.

While it is not wrong to consider replicating what made other companies become industry leaders (see item no. 1), relying on what they did alone will not be an effective strategy. This is because, for a brand to become famous, the context should also line up.

Merely copying the formula won’t cut it – you have to consider everything that made it what it is, including the story behind the company or person’s goals, how much the budget was for the brand, the target audience, the branding strategy’s goal, and many more.

Remember that an effective brand should reflect who and what you are. This means that a brand should be created not to become a multi-million-dollar company but to exude an air of excellence and authenticity that will pave the way to success.

3 Proven Formula to Building Your Business Brand

6 Unique Steps to Creating Your Business USP, This Determines the Quality of Your Brand

4.   Getting Too Attached to Ideas

During the brand strategy planning, a lot of ideas are bound to be thrown out. Since some of them are bound to get scrapped, you shouldn’t let yourself get too attached. The same goes for revamping an existing brand.

If you truly want your brand and your company to grow, it is vital that you remain open-minded. Evolution is what helps people adapt to the ever-changing nature of the business, so don’t be afraid to break away from what used to be in order to become what you should be.

5.   Not Having a Plan B

No matter how great you think your branding strategy is, there will always be a chance that things can go south. This is why even the most successful companies still have an alternative plan. Remember that not all branding strategies will work the very first time you try them, so be sure to adapt and know when to execute your plan B.

Avoid Mistakes to Succeed

Creating and establishing a brand is no easy task. In fact, it requires a lot of work and brainstorming to come up with the right plan and even more effort in executing and sticking to it. Make sure your business doesn’t go down the ditch by seeking expert counsel and avoiding these common branding mistakes.

AUTHOR BIO

Grace Yacoub is the owner, founder and CEO at Zaman. She recognized the potential to develop brands in Dubai back in 1996. Amongst her first projects were to convert the local powerhouses of Etisalat and NBD into branded entities and engage the nation in the drive for modernity. She has since led projects across finance, family, industry, property, retail and all sectors to convert many of the region’s most important companies into powerful brands.

Related Posts