Assess strengths, weaknesses of your brand

Now more than ever, Small-Medium Enterprises must understand and appreciate the importance of brand identity. Whether you are a bakery trying to sell the sweetest bread, a car hire service with the latest range of cars or a chain of restaurants in a highly competitive market – your brand’s identity is one of the most important sales tools you will ever need.
Your brand identity is how you want your business to be perceived by customers. Brand identity is vital as it offers strategic direction, purpose and meaning for a business. If developed and executed well, it is one of the main drivers for brand equity.
A powerful brand identity will effectively and consistently communicate a brand’s personality and its product value to potential customers, helping build brand recognition, association and loyalty.
There are six tangible and intangible facets of the identity prism that define the brand identity. These attributes can help you assess the strengths and weaknesses of your brand.

Physique
The physique is the starting point and forms that backbone for developing a brand. It is the set of attributes that come to mind when your brand is mentioned. It includes the colours, logo, fonts and form. These elements of the brand should always be consistent in your communication and branding. Physical appearance is important but it is not all that is required.

Brand personality
Brand personality is important and relevant for every brand. As the brand communicates, it gradually builds a character. The way in which it speaks of its products or services shows what kind of person it would be if it were human. You can develop the personality of your brand by using specific writing styles, design features, colours schemes or a person (many companies use celebrities and motivational speakers).

Culture
Culture is an internal intangible facet essential in differentiating your brand from competition. Culture includes values and basic principles on which the brand will base its behaviour. The culture of the brand sets the stage for performance and productivity. Brands with strong cultures end up being ‘trendy’.

Customer relationship
Customer relationship is another key brand identity facet that all SMEs need to embrace and develop. The reason you exist is because of your loyal customer base. It is therefore important that your brand focuses on high quality customer service and enhancing the customer experience. To achieve this, it is fundamental that you define what your brand stands for.

Reflection of your brand
Reflection of your brand is also another important attribute to consider as you build your brand. When asked for their views on certain brands, people immediately answer in terms of the brand’s perceived client type. As your brand communicates and through your most desired products, you tend to build a reflection or an image of the buyer or user that you seem to be addressing.

Self-image
Customers are drawn to brands that they perceive are a reflection of who they are. The quality, positioning and communication are usually the key determinants. Brands should communicate and position themselves to the intended demographic.
If the above attributes are reviewed from time to time, together with the overall business strategy, the brand loyalty and financial value will be enhanced.

Diana Kahunde is the brand and advertising manager at dfcu Bank.