Business is rough, complicated, and can get dangerous pretty fast, much like a bullfight. Even though most founders understand running a startup is hard work, many still get gored every year. 

Don’t believe us? According to Oberlo, 4.35 million businesses were started in 2020, and over 930,000 of these businesses failed to reach their first fiscal year. 

But hold on; it gets worse because 50% of the businesses started in 2020, and even 2021, will never celebrate their fifth fiscal year. 

Why? Because 33% of new businesses struggle with insufficient funding. In addition, many times, what little funds they do have is spent running expensive marketing campaigns.

But it doesn’t have to be hard for you because there are simple steps to help your new business gracefully overcome the deadly horns of the market. Here is a sneak peek into three of these basic steps to help your brand stand the test of time.

Let’s get right into it.

Three Easy Steps To Help You Launch a Powerful Brand This Year

1. Remember Your Customers are Kings

Treat your customers like kings, and they’d happily give you the keys to their kingdoms.

Although it’s almost a cliché, you won’t believe how many founders started their business without considering their customers. We’ve seen brands like Juicero design cool products but add zero value; yes, you read it right: their product added no value to their customers.

Getting a Juicero juicing box was standing under the rain with a palmbrella.

Image Courtesy: Plainmagazine.com

Since Juicero didn’t provide any unique value to their customers, we weren’t surprised when the company took its last breath. The world is yet to see a business survive without a solid customer base and brand identity. 

It’s important to point out how many entrepreneurs trying to build their businesses make two fatal mistakes. One of those mistakes is cranking out tons of ads which don’t reflect their customers’ needs. The second is forgetting it’s the customers who possess the purchasing power and make businesses succeed.

But how do you build a brand customers love to buy from? Simple, give your brand a unique personality, make sure your brand’s tone aligns with its audience demographics, and allow your audience to take active roles in improving your products. 

So, do a quick mental review of your business right now. Does every part of your business align with your customers’ needs? If yes, then proceed to the next step, but if not, don’t read the next step until you’ve figured a way you can tailor your business to suit your audience.

2. Build A Solid Brand Identity and Get Active on Social Media

Although every entrepreneur needs to invest time in building a great product, they also need to pay special attention to building a solid brand identity. 

Your brand’s identity is more than just your brand’s appealing logos, attractive colors, and impressive designs. It’s your brand’s personality, how it communicates, the values it represents, how you sell your products, and the emotions your customers feel when they see your creations.

But here’s the shocker: if you want your brand’s identity to have a stronger impact, make sure it goes beyond being your business’s personality to becoming a solemn promise to customers. 

So, whether your brand has a daredevil brand tone like RedBull, an inspirational style like Nike, or a humble message like Apple, make sure it aligns with your target audience.

But it doesn’t end there. The market is constantly evolving, and if you must stay ahead, you’d need to regularly check your brand’s identity to ensure your business hasn’t strayed away from its path and still delivers on its promise to customers. 

And one way you can do this is by studying your customer reviews, surveys, Google analytics, and the comment section on social media. This would give you a clear picture of what your customers are saying about your business.

3. Give Your Business the Perfect Brand Name

You’ve built a solid brand identity, established an active presence on social media, and now, your business has a steady stream of loving customers you treat like the Queen’s great-grandchildren. 

As lovely as it sounds, it’s critical to note all this is only possible if your business has a mighty brand name. You can find the best name for your business by brainstorming or using a business name generator.

Now, before starting your brainstorming session, ensure you’ve gathered vital information about your business, customers, competitors, and the market. This information would help you find a unique name to appeal to your customers. 

Brainstorming a great name can be very challenging, even for seasoned entrepreneurs. One way you can make the entire process easier is to assemble a team—they could be your friends, family, or coworkers—to help you brainstorm a compelling brand name.

But just in case you don’t have a team, and brainstorming a list of short, unique, catchy names sounds like too much for you, then make sure to use a robust company name generator.

Six Words Every Business Owner Wants to Hear

Courtesy: Knowyourmeme.com

Yes, it’s not going to be an easy ride, but if you put these three basic steps to work, then get ready because customers would practically run to your business and eagerly beg you to “shut up and take my money.”