In 2020, the total number of new business ventures is on the rise globally. There are a number of things contributing to this phenomena. With the now inherent connectedness of the world, via the internet, it is easier than ever to build an offering, promote it online, communicate with customers and distribute and service globally.
Other factors that are contributing to this include:
The coming of age of the Millennial generation; a naturally entrepreneurial bunch.
The Internet. Speed is increasing and cost is decreasing.
Push towards a better work life balance.
The meteoric rise of social media, and the impact it has on consumer behavior.
The list goes on…
So what does this mean for business owners and brand managers?
Increased competition means that new business owners are facing a very challenging market when it comes to being noticed in a sea of online advertising. And, the first thing people see when they engage with you online is your brand. Regardless of what industry you are in, or what products or services you are selling, your visual brand identity is your business.
So how do you stand out from the crowd when it comes to visual brand identity?
Whilst viral social media campaigns, influencer marketing and digital strategy all contribute to the total number of customers that visit your website and engage with you online, not having a clear, strong and consistent brand hugely decreases the likelihood that an online customer will transact. Here’s what you should be focusing on.
1. Defining Your Visual Brand Identity
Your brand is a multifaceted concept. From your logo, corporate colour schemes, fonts, graphic design elements and beyond, your brand, to an online customer is who you are, what you can offer them, and what you stand for. To be able to communicate this effectively you need to have a clear understanding of who your target customer is, what value you provide them and why they should purchase from you instead of your competitors.
2. Consistency is King
The internet is noisy and cluttered, and the potential for a customer to swipe through your online ads and social media advertising without even noticing is incredibly high. In addition to this, the number of ‘impressions’ that the average user is exposed to in a day is frightening when considering the effectiveness of online marketing. In order to give yourself the best possible chance of engaging your audience you need to ensure that everything you do online is on brand, easily recognizable and consistent.
3. Being Seen Is Not Enough
The average click through rate for any post, ad or article is less than 1% at best. This means that for every 100 people who see you, only 1 really sees you. In order to increase your chances of increasing this vital KPI, a strong brand is vital. Studies suggest that you have less than 1 second to draw a potential customer’s attention before they move on with their day. To catch them, your brand needs to be clear, emotive, relatable and eye catching for your particular target customer.
4. Building Fans, Now Followers
In modern digital marketing, there is so much focus on building a fanbase and using this network to amplify your message online. In order to do this effectively, you need to ensure that your brand is something that your target market relates to, understand and cares about. Without a strong understanding of your market, and an alignment of your brand to the nature of that market, you will struggle to engage, capture and convert.
5. Capitalize on Culture
There are two different types of culture that owners and brand managers should be concerned with. The first is the culture of their businesses and how well this aligns with the needs of customers. The second is the culture of their customers and how you can use this powerful tool to build a community of loyal and fanatical consumers, who not only want to engage with your brand and business, but also want to engage with each other.
The internet is the biggest social ecosystem in the world, and humans at their core need to feel connected and a part of a community. By designing your brand, and executing your brand strategy with this in mind, you will give yourself the best chance of creating a culture that people want to be a part of.