There are various factors to be considered when building your own credible brand name. According to Brand.com, an online reputation management company, the brand identity is very important to expand your business and attract a huge customer base. Brand.com Reviews makes it clear that credibility is very important when building your brand name so that customers gain trust with your products. The 5 Key Ingredients of the Recipe for Building a Credible Brand name are,
Ingredient #1 Trust:
It is the most important factor to build a credit brand name. Consumers will be happy to purchase products from a brand only when they have got the trust towards product quality. You can build trust with your customers through consistent, straightforward, ethical, predictable and honest business practices. The ways to build trust include,
- High Performance – Customers always expect value for their money and only through high performance you can provide that.
- Safety – Customers do not trust products which are unsafe and can cause potential harm to them
- Predictability – A company should not make sudden changes to the product without proper feedback from customers. Also they should resolve issues quickly during crisis time which is very important to gain trust of customers
- Solid Warranty and Guarantee – Whenever you sell some product, customers expect proper guarantee and warranty which in turn actually means reliable and quality products
- Consistent Quality – The quality of the product should be consistent and there should not be any change or deviation from it.
Another key ingredient for branding is authenticity which means stating the values clearly. If the brand deviates from its mentioned values, vision and mission then it will be criticized by the customers and it can lead to hypocrisy and deception. Consumers have range of tools including online forums to disprove the claims of a company and you should be careful about this while building your brand name. The brand name of a company is explained through the values proposed by the company. Company should avoid bad buzz and even slight deviation from mentioned values can lead to criticism and downfall of the brand name.
Ingredient #3 Transparency:
Another key factor with branding is being transparent to customers. With modern technology and use of online tools, customers will be able to find all information about your company. So it’s better to be frank and transparent with customers including your business process, manufacturing techniques so that customers will have more trust towards your brand. The information about your suppliers, business partners, manufacturing techniques, company return policies, labor conditions will be of great use to consumers when deciding about purchasing your product. Also make legible brand labels for your product including ingredients used to manufacture them.
Ingredient #4 Responsiveness:
If you want your brand to remain permanent in the market, you should respond promptly to the queries of customers. If you don’t respond to consumer suggestions or complaints, your brand name will lose the credibility soon and customers will switch to new brands coming in the market. Responsiveness includes apologizing for any product faults and fixing problems promptly, combating false rumors and listening to customer suggestions and making changes in your product based on that. Also customer service/support team should be excellent and there should be quick turnaround to customer queries which can help in improving your brand reputation. You should also analyze the root causes for problems reported by customers and address it promptly.
Ingredient #5 Consistency:
Another key factor while building a brand name is consistency and reliability in delivering quality products to customers. Popular brands like Nordstrom or Starbucks have gained their trust with customers by being consistent in delivering excellent quality products. So if you want to survive for long term in the market you should be consistent and provide your customers with unique experience. The products should be compelling and must satisfy your customers through all means. You should focus on consistency, reliability and purity in order to build a credible brand name.