Building Brand Awareness

Building brand awareness will help you grow your business. It doesn't matter which product or services you provide or the size of your business. Lot of business professionals lack building brand awareness, as they feel that it does not have any tangible value. This definitely turns out to be a mistake. Building a brand is one of the most integral aspects of growth; it will help you increase your revenue. A marketing manager once explained the importance of building brand awareness in a very interesting way. He said that his name was Steven Andrews and when he interacted with his friends and colleagues they associated certain qualities with him like 'dependable', 'helpful', 'honest', etc. So wherever his name was mentioned to other people by his friends they also adverted his qualities, for example they would say talk to Steven about investments he is helpful. This is what brand awareness will do to your product or services; it will get adverted in the right light.

Creating Brand Awareness

There are different strategies involved in building brand awareness, but the aim and principles remain the same. In the old times, cow boys would brand their cattle in order to distinguish them from others and also to emphasize the quality. The fundamentals of branding haven't changed much since those times. Branding helps clients distinguish your product from your competitors. 

If you are wondering how to increase brand awareness, well there are several ways that you could do this depending on the resources you have. Nowadays, one of the mediums to explore for building brand awareness is the Internet. Having a website as a part of your Internet branding efforts, showcasing your qualities is like having a 24 x 7 marketing agent selling your products or services to billions of visitors in cyber space. A website also acts as a constant reminder to people about your products and gives them an assurance of your standards.

Having a slogan or tag line is one of the important aspects of brand building leveraged by many famous brands of the world, just look at Nike their tag line 'Just Do It' is as famous as the products. The tag line will convey your marketing message and attract clients, and all you have to do is, come up with a good one. For better understanding lets take an instance where, if you make candy bars your tag line could read 'Nutrition in Breaks', this way you imprint peoples mind to think about your product whenever they are hungry, while at work, home or play.

Significance of Building Brand Awareness

We live in a world which is driven by consumerism and competition also glottalization has opened up the markets and you are competing against the world. One of the ways to tackle competition is to establish your identity and the way to do this is by building brand awareness and brand management. Having an identity will help the population distinguish your product from the ones available in the market. Almost everyone experiences this, a price of a product varies from one place to another, for example a cotton shirt will cost you less in a mall than in a designer boutique in spite of the fact that the material and stitching being the same. This is an indication of the importance of branding, and brand equity is what propels businesses ahead of their competition. 

If you study the impact of building brand awareness in terms of monetary benefits you will realize that your customers will advocate your product to their friends and this will lead to more customers and increase in financial gains. Corporate branding if done correctly will create awareness about your product in the market and generate interest in your product or services. This will have a positive impact on potential clients and eventually will reduce your marketing budget.

…End Notes

If you are an organization you should allocate some resources for building brand awareness, as this will help you position your product or services in the market. It is one of the important tools for increasing your revenue and longevity for sure.