How to Build a Brand

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Branding is crucial to the success of any company. In order to set themselves apart from the competition, new businesses must quickly establish a unique brand identity. Experts in branding and marketing recently convened at the New York Stock Exchange to discuss the importance of branding and the rapid consumer loyalty certain upstart firms have gained.

Alex Lirtsman, founding partner and chief strategist at digital firm Ready Set Rocket, discussed the most important considerations when evaluating a brand's effect at the Interbrand Breakthrough Brands event. How strong is their brand? How unique is their product line? How well do they know their target market?

A more complete image of the client can be gleaned from customers' preferences across similar product categories. John Varvatos, a renowned designer, has long associated his label with the alternative music scene.

Brand authenticity is crucial for many companies to keep their customers coming back. People want us to be authentic and to start conversations, so that's what we do. Shake Shack's VP of marketing and communications, Edwin Bragg, explained that the company's massive fan base prefers not to interact with impersonal corporations. The organization maintains robust profiles across the board. “We're having a great time doing it, and I think it comes across in our tone and style. People want to see the goofy stuff, the stuff nobody sees, and they want access to what we're about," he said.

As Interbrand's worldwide CEO Jez Frampton put it, "Brands are stories," and that "story" should be one that develops day by day. Your brand and business's growth, as well as any social media plan you employ, must be founded on a compelling narrative.