A brand is a rather complex concept to understand, which includes not only the name, but also a set of features and values of a particular company. With the processes of digitalization and globalization, brand building (or brand building) is becoming an increasingly... interesting process, as it takes into account not only the recipes for success of multi-million dollar companies, but also local competitors.

What are the components of a successful brand in 2020?

Target definition

The foundation of a brand has a purpose. In particular, representatives of the Swedish company IKEA note that their main goal is to provide proper comfort in homes as the main places of coziness. The goal is your reference point, your road sign. At the same time, define your target audience: whether it will be young people for whom movement and discovery are important, or perhaps older people who prefer peace and less dynamics.

Strategy = orderliness

Actions are preceded by a clearly defined strategy, which can be divided into semi-annual, monthly, weekly, and daily plans. Always, always, and always again, write down your goals (short-term or long-term) either on a piece of paper or in apps on your smartphone, but one way or another, don't forget about them. This is how you build a specific route to your goal, and without it, you are doomed to wander chaotically.

Impressions come first

Conservatism is out of fashion. Dry information about a product, which includes its name and ingredients, will not ensure effective promotion. However, people demand "bread and circuses," with bread being your brand and circuses being its presentation: visual advertising, slogans, catchy, interesting banners. For example, Coca Cola makes unforgettable New Year's ads in December, and McDonald's always reflects the friendly atmosphere in its restaurants.

Employees: people make all the difference

There are no universally recognized criteria for an ideal employee. However, it is worth highlighting that cohesion, integrity and certainty are important for the team. Involve everyone in the work, don't leave anyone out, use various tactics to unite your employees, cover the work process in posts and in general - don't be indifferent! Your employees are parts of the same mechanism, and if you leave one part out, it won't work as it used to.

Loyalty: reward customers.

Without communication with customers, a brand will be considered ineffective. For a brand, it is a priority to maintain the commitment of your "fans" who are the users of your goods/services. In addition to providing your products, run some kind of loyalty program: send thank-you notes to your customers, give active customers discounts on goods/services. This way you will keep their attention for a long period of time.

Healthy competition

No matter how unique your product is, remember: you are not alone in the marketing space, and if you have effective ideas, your competitors will want to "borrow" them. At the same time, study their strategies, how they imagine what they offer their customers, whether they operate locally or are focused on foreign customers.

Be unique

Copying the achievements of others is pointless and, let's just say, uninteresting. This should be your brand's specialty - a unique offer. Yes, its formation is a rather complicated process, but you just need to tap into your creativity and understand what exactly people want and what hasn't been invented yet. So as soon as an idea comes to you, write it down. Also, don't forget that a healthy mind is a healthy body, and in the process of "thinking" don't forget to take care of your health, physical condition and regimen.

Continuous brand promotion

Nowadays, humanity is moving forward so dynamically that one day without a simple post can be a significant disadvantage for you. Let everyone know about your brand, about its coolness and uniqueness, that there is no such thing anywhere else and that a person who turns to it can radically change your life. The dynamics should be 24/7!

Flexibility: balance between the poles

As your brand expands, so does the range of its products. You take into account the interests of more than one target audience, you discover new technologies, you study the preferences of your customers, in general, you explore market trends. That is why you should pay attention to your variability. An example is Coca Cola. With the spread of healthy lifestyle fashion, the company launched a new product: Coca Cola Zero, a low-calorie, sugar-free product.