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Covid was nothing short of a roller coaster ride, and only well-branded companies survived the ride. But the ride isn’t over because with the emergence of Omicron, supply-chain complications, overblown prices of commodities, and the constant threat of inflation, have increased the market's instability, making it difficult for new and fragile businesses.
In fact, with more than 33 million companies making an entrance into the markets this past decade, and with the current global economic instability, it’s no surprise that half of them fail.
Building a strong brand and positioning your business for growth in 2022 is a complex process, so we will show you three trusted strategies that can help you establish a strong brand and improve your startup’s chances of success in 2022.
Three Trusted Strategies to Launching the Perfect Brand
Your Brand's Greatest Goal is Customer Satisfaction
Although most founders appear to know that their company cannot prosper without a solid brand and a faithful customer base, you'd be amazed how many entrepreneurs launch their companies without first assessing their potential customers and the critical role their products will have on them.
Juicero remains a great example of a trendy product with minimal utility in the lives of its customers. And Juicero, of course, flopped miserably.
These types of mistakes are typically made by entrepreneurs that do not appreciate their clients enough to perform rigorous market research.
The first mistake is that they squander tons of cash on various social networks to market their 'excellent' products and/or services that don't meet their target consumers' fundamental needs.
The second is that they fail to see that their most devoted clients have the financial strength their new firm needs and are motivated to refer their products to friends and family.
Allowing your new firm to follow the example of others that forsake their devoted clients, such as Gillette and their toxic commercials, might leave your business fumbling in the darkness of sales, trying to make positive impacts but obtaining disappointing results.
So, whether your clients prefer high-end, pricey items or cheaper ones, if you truly want your startup to thrive in 2022, ensure you thoroughly understand their main worries. But don't stop there; also find out their financial strength and favorite trends.
This understanding will be extremely useful in developing an attractive brand image and an appealing tone that appeals to your target market.
Create an Intriguing Brand Identity
Building a great brand is difficult. Every dedicated entrepreneur devotes a significant amount of time and effort to fine-tuning and adjusting their offers and products until they are perfect.
And one reason why they do this is the entire personality and identity of their business, how they sell their services, the consumer principles they stand for, how they connect and engage with clients, and even the sentiments their audience has when buying or using their products all contribute to their brand's identity.
So don't be afraid if creating an appealing brand identity for your startup takes up a considerable amount of time and work.
Develop a Positive Image for Your Company
A compelling and exciting brand name is required to establish your brand image, expand your online presence, and gain a large number of devoted consumers.
Take a moment to look at the market, and you’ll notice that every great firm relies on a distinctive brand name. Backrub became Google, Brad's drink became Pepsi, Jerry and David's Guide to the WorldWide Web became Yahoo, and Blue Ribbon Sports became Nike.
The success of your firm is dependent on its brand identity. And speaking of brand identity, Hertz—by accusing over 3000 customers of theft every year and reporting them to the police—has set its brand image on a path of destruction.
Now, understand that even the most seasoned founders struggle to create an interesting name for their products and services. So, if coming up with a great business name becomes a time-consuming task, don't be afraid to enlist the help of a powerful company name generator.
True, it will take a little time and work to build a successful business. Nonetheless, following the three easy procedures stated above can help you save time while developing an appealing brand for your company.
Grant Polachek is the head of branding for Squadhelp.com, 3X Inc 5000 startup and disruptive naming agency. Squadhelp has reviewed more than 1 million names and curated a collection of the best available names on the web today. We are also the world's leading crowdsource naming platform, supporting clients such as Nestle, Dell, Nuskin, and AutoNation.
Covid was nothing short of a roller coaster ride, and only well-branded companies survived the ride. But the ride isn’t over because with the emergence of Omicron, supply-chain complications, overblown prices of commodities, and the constant threat of inflation, have increased the market's instability, making it difficult for new and fragile businesses.
In fact, with more than 33 million companies making an entrance into the markets this past decade, and with the current global economic instability, it’s no surprise that half of them fail.
Building a strong brand and positioning your business for growth in 2022 is a complex process, so we will show you three trusted strategies that can help you establish a strong brand and improve your startup’s chances of success in 2022.
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