IFE ADEDAPO writes on how entrepreneurs can sustain their businesses through branding

When considering the technological innovations taking over the business environment and the corresponding emerging business models, you will realise that old marketing strategies have to be done away with.

With the growing client demand for quality services, focus has shifted from just delivering a service like everyone else in the market place to creating long-lasting values.

The dynamic nature of business at the present time has necessitated a transformation in the product and service delivery that put the mind of clients at rest on the quality of service delivered. Branding is one way of achieving this.

Cambridge dictionary defines brand development as the process of improving a brand or improving customers knowledge and opinion of a brand.

Branding is often referred to an intangible asset of a business, has a more lasting impact than any other asset and can outlive the business founder(s). Big brands all around the world such as Coca Cola, Nestle, KPMG, and Shell among others did not become big overnight, but through persistence and continued demonstration of the relevance for their business.

A co-author of Co-Branding, Tom blankett says the best brands are built around a unique business idea or a compelling vision.

Experts note that when employees are excited by the proposition, they will help to sustain it and communicate it to customers, suppliers and others through their enthusiasm and commitment.

They add that brands create customer value because they reduce both the effort and the risk of buying things, and therefore give suppliers an incentive to invest in quality and innovation.

To upgrade to the level of bigger brands which are the foremost operators in their industry in the world, professionals in branding have pointed out issues to address.

Consider your service as a product

The Senior Consultant, Diamond Consulting, Mr. Dickson James, says that in order to maintain the quality, standard of services, business owners have to restructure their service delivery and present them as products with added value

According to him, it is important to do this in order to remain relevant in an environment like Nigeria, where certain services are not valued or when they are viewed as very expensive.

As a consultant, he says another way of achieving the right patronage is to break down services into objectives.

He says this will help the consultant set a standard, in a way that people can value it as a product more than a service.

You can decide that a particular training that you do must have a name, a target audience and training modules. Participants can be allowed to select modules that fit their preference, he says.

Select a brand name

To improve on the strength and the appeal of your brand to consumers, expert says the brand name should represent a promise to satisfy consumers expectations at all times.

According to James, to distinguish a business from others, business owners need a unique name, slogan, sign, symbol or design, or a combination of these elements that will identify their products or services.

He added that business owners should not hesitate to make different variance of their product to satisfy the proposal to their client.

Protect your brand

Experts say trademark law offers provision for the protection of your brand, corporate names, your logo and colours, the shape of your packaging, smells, as well as the advertising jingle used.

James notes that this protection can last indefinitely and is subject to payment of a fee. He explains that patent law allows business owners to protect their products for periods of up to 20 years, provided the product is their invention and is a novel idea.

Moreover, Copyrights allow you to protect artistic, literary, dramatic and musical works for up to 50 years after the death of the author or originator.

Even though people have little or no respect for intellectual property in Nigeria, it is always good to trade mark your work. It is affordable and curtails people from stealing your ideas. However, most entrepreneurs are not aware of it, James says.

Be innovative

Experts observe that some businesses are stereotype in their operations, as such there is no opportunity to introduce new products or services that will appeal to customers.

James says strong brands survive several generations due to their flexible nature and ability to respond to the ever-changing needs of their customers.

Have brand ambassadors

Experts note that the strongest brands globally dont just have customers, but evangelists who are referred to as brand ambassadors.

They add that the ambassadors enthusiastically recommend their favourite brands to other potential customers.

James says, Celebrity endorsements have been shown to help in selling the products. Musical artists, comedians, actors and actresses promote domestic items and food products by endorsing them.

Children and adults are influenced by these endorsements from the celebrities they admire and are expected to patronise the endorsed services or products.

He says the perception of the people about the celebrity increases the possibility of people increasing their patronage of the product and service the company offers.

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