When it comes to standing out in today’s cutthroat business world, it can be overwhelming trying to find an effective strategy while still remaining unique. That being said, occasionally some of the most effective solutions to problems are the simplest ones, and the same can be said for building an unforgettable, iconic brand in the marketplace today.
How to Use Data to Guide Your Rebranding
Companies go through rebranding all the time, especially scrappy startups that launch on the idea that “done is better than perfect”. They’ll go through choosing a business name, throw a brand together to get in front of an audience, then take an iterative approach to rebranding until it sticks.
On average, five to seven brand impressions are required before someone will remember your brand, according to Pam Moore. And, with everyone constantly being on his or her smart phones or computers, this means it’s imperative to get your brand identity established online when building brand awareness.
Logos are everywhere. A 2016 study by the market research firm Yankelvich estimated that the average person sees over 5,000 ad/logos per day, up from 2,000 just 30 years ago. Logos and brands are big business, with many companies spending upwards of a million dollars to create the logo that will give them the strongest brand identity. Companies need to be noticed, and that is where the logo comes in.
As we at Brandroot usher in a new year, we thought it would be both fun and prudent to revisit companies that purchased names from our marketplace in 2016. Companies that have enjoyed success can often be looked upon as models. If our names have worked for them, they can surely work for anyone considering a launch in 2017.
The ability to connect with customers is one of the most important measures of a company’s success. Once you’ve established your company and developed your product, you need to reach out to the masses. Finding quantifiable ways to market your product is imperative if you want to become a formidable player in the industry. Knowing that goal and understanding how to achieve it, however, are often too very different things.
It is common in today’s market to see brands come and go. Often, a hot brand will explode onto the scene only to completely disappear from the industry in only a few years. So, how can a successful ride of over 160 years be explained? How did a clothing company established in the middle-1800s become a global icon? An analysis of Levi Strauss & Co. reveals the answers, all of which you can use to launch your own prosperous company.
If there is anything certain in the world of marketing and business, it is that nothing stays the same. The strategies that were effective in 2015 may not be so as the year comes to a close. Staying abreast of changing trends is imperative if one expects to reach the top of the industry and stay there.
Have you ever wondered just how much a name like McDonalds is worth? The answer lies in the companies brand equity. A company’s brand is one of its most valuable assets; and brand equity is a measure of that value. Brand equity directly corresponds to financial performance, something a company like McDonalds knows all too well.
A company’s branding strategy is made up of several elements, including its logo. Oftentimes, the logo piece of the branding pie is overshadowed by the other elements. That doesn’t mean it isn’t equally as important, however. Just ask a company whose logo or logo change torpedoed their entire strategy.
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Brandroot focuses only on content related to business naming. Before selecting the name of your venture it is important that you have a solid grasp of what you're in for.
- Simplest (Yet Effective) Ways to Make Your Brand MemorableWritten on Friday, 08 June 2018 21:15
- How To Use Data To Guide Your Rebranding | BrandrootWritten on Wednesday, 23 May 2018 23:52
- 6 Mistakes Successfull Entrepreneurs DON'T Make When Starting a Small BusinessWritten on Monday, 21 May 2018 21:16
- Can a Good Company Name Help Your Success?Written on Monday, 30 April 2018 18:54
- Sweet Sound of Success: Scientific Methods to Selecting a Made-Up Brand NameWritten on Monday, 19 March 2018 16:21
- 5 Steps to Build Your Brand Identity OnlineWritten on Friday, 16 March 2018 14:33
- The Business Name Change Craze Surrounding CryptocurrenciesWritten on Monday, 29 January 2018 16:56
- Naming Trends and New Emerging Businesses in 2017Written on Thursday, 09 November 2017 11:11