9 Common Branding Mistakes
Firstly, understanding the term “branding” is significant! So, in simple words, branding is a marketing practice where a strong, positive perception about the product/service is created in the minds of the clients with the thought of defining the entire brand. This is definitely a difficult task initially as defining your agenda & what inspired you to start the venture tells a story of its own.
Today you can learn a couple of things which one must avoid (as a marketer), as no wonder, the following could turn out to be huge mistakes for your brand!
1) No Research
Several times, when there is less or no research involved, the brand suffers. Remember branding is that marketing practice that should be the priority at first. Understand market trends, what’s in demand & what the audience generally is searching for. Surveys could aid as an effective tool to help you know what the dos & don’ts can be while fashioning an article/item.
2) Confusing the Logo & Brand
The logo & the brand’s identity both should go hand in hand. As much as the logo is the first impression of the brand, the brand & the products are far more important! The logo shouldn’t be hidden neither the logo should be solely the center of attention that the products don’t remain the main attraction.
3) Understand Your Target Audience
Though you can incorporate your personal opinions & likings, it would be astute to base your brand on a thoughtful strategy that focuses on competitive advantage, target audience & what they expect of you. Your very potential customers are the ones who will either cheer you up or boo you off stage, so in whatever manner you speak to your dear audience that is what determines how they’ll react to your new collection. Hence it’s supremely important that you say the right thing (slogans/or via ads), in the right way & at the right moment!
4) Inconsistency
One thing that can tarnish the brand’s image is not being regular. Inconsistency can lead to numerous dilemmas. The approach is applicable everywhere from updating your website from the back end to being active on the social media handles because inconsistency showcases a late back, casual approach which won’t be acceptable by the masses for long.
5) No Business Plan
Frequently, when start-ups begin their business journey, the goals & business plan are not accurately defined! Very soon complications arise – whether it’s in the accounts department, quality control, or even how the social media should be used! Being organized about each & every step means you’d know when to put posts on social media, with what captions, what filters & color scheme to carry forward with! Because when too much is going on, it rather seems to head forward with no theme & no idea in mind. In turn, it affects the logo & the aesthetics majorly!
6) Cheap Routes
Often, when people with zero experience commence on with their new venture, they show traits of a miser by opting for cheap alternative routes. This could be evident from bad quality raw material being used to pathetic packaging to no photoshoots; instead, some use images copying them from various search engines. Here, things can horribly go wrong if there’s no standard set & when cutting corners matter.
7) Aging Signs
Any big store with a tacky, rusty signboard could cast a bad impression on the clients. Not just the impression it tells a lot about the caretakers of the brand that if a signboard with fallen letters couldn’t be fixed then how much does the brand really care about the product’s quality? Additionally, as much as these things seem to be on the side, they really do raise the eyebrows of the public. You don’t want your brand to become the next trending meme on the internet, having a funny missing alphabet on its signboard?
Stretching Your Brand without Thinking!
Sometimes in hopes of expanding business & tripling profits, managing directors & the CEO’s dreams of extension only become one of the crispiest subjects in brand management.
Albeit to the fact that many reputable companies have learned the hard way of trial & error that stretched brand extensions can easily ruin the entire brand’s position in the target market.
9) Poor Brand Experience
As much as the Designs of the logo & the designs of items you create matter, an unforgettable great brand experience can surely create ripples. Even if you don’t own a store & just a website, for now, make sure the website is captivating, inviting, the chat support is helpful & even if any client is repeatedly asking the same question – the admin maintains nothing short of a friendly tone.
Conclusion
Branding is always important for all businesses and you need an expert like Logo Native to make sure it is done in the right way. A word of advice would be to work on your branding first & then take care of marketing.
Everything You Need To Know About the Investment Banking Course
Do you aspire to become an investment banker? Are you ambitious about earning a seven-figure salary? If you fit in this criterion, taking up a professional investment banking course is all you need.
Certified Investment Banking Operations Professional in Mumbai
Investment banking is one of the sought-after career choices for individuals interested to grow their careers in the financial corporate world. However, investment banking is a rapidly progressing sector these days. The demand for courses related to this particular niche is on a consistent rise worldwide.
Certified Investment Banking Operations Professional
The dedicated professional course programs in investment banking make learners proficient in different realms of investment across various industries. The skillset that one develops through these courses enables them to master the investment. Moreover, these productive courses help you learn about the aspects of real-life earning through investment. Plus, it keeps candidates updated with the latest happenings in the investment world.
Read along to further know what investment banking is all about and why one should opt to pursue these courses.
What is Investment Banking?
Investment banking is an essential division of banking operations. It deals with the creation of capital for individuals, companies, government facilities, and other entities. Investment banks are held responsible for providing financial consultancy assistance to organizations/individuals. They assist their clients in ways to manage their financial assets including Debt funds, real estate, equity funds, etc. They act as intermediates’ between investors and corporations who need to raise their capital.
Who can pursue a career in Investment Banking?
To make your career in investment banking, you simply need to have a bachelor’s degree with some work experience. Though not mandatory but a degree in finance, accounting, business administration, or math can help you provide an edge. Luckily, you also have some certification courses at your disposal. The professional courses from reputed organizations serve as indicators of your finesse in the subject. They prepare you for a job role practically as well as technically. A certification course in the banking segment like IB will acquaint you with fundamental banking practices. Apart from this, they prepare you for the job market and help enhance your interpersonal communications, virtual communication, time management, decision making, and problem-solving skills.
Benefits of taking up a career in Investment Banking
Good Salary: Investment bankers are one of the highly paidprofessionals in the world. They can fetch a seven-figure salary per month. Over it, professionals with certifications are likely to earn 20 to 40% more than the median salaries.
Better Growth: Investment banking is a challenging field. Every day you will come across new problems that will require you to put your existing skills to test. Apart from this, you will be accorded with opportunities and compelling rewards down your career.
Promotions: The technical skills acquired by IB professionals through specialized certifications enable them to secure senior roles within companies and private equity firms. Moreover, you get a chance to work in the world’s most reputed organizations and banks.
Takeaway
The investment banking course is a lucrative career option. It opens a lot of opportunities for aspiring individuals to grow their careers in the finance and IB segment.
Permission To Use Your Emergency Fund
Emergency Fund
Having an emergency fund is all the rage these days, but knowing how to effectively use one, and the reasons for its existence are still somewhat perplexing.
If you have already made the decision to start your fund, or you have had one for a while then congratulations. It is an important financial milestone to reach and shows a great deal of economic prudence for you and your family.
The question then arises of when is it acceptable to use your emergency fund?
There are so many uncertainties in life, and dipping into any form of savings often feels inappropriate – especially if you have amassed any significant cash balance.
But remember, your emergency fund is there for a specific reason – to alleviate financial pressures when you experience an unforeseen event – namely an emergency.
So let us now look at the 5 main categories you should consider tapping your emergency fund for – and give yourself permission to take advantage of this incredibly useful tool.
Recommended article: How to Start An Emergency Fund
Income
This is the single biggest reason an emergency fund exists. After all, with a steady and consistent income most emergency’s can be covered with income alone. However, when the very source of your financial stability is shaken, you will need immediate support.
In recent months, the world has seen unbelievable job uncertainty for millions of people. Many have been temporally furloughed, made redundant or worst, lost their jobs entirely. Therefore, accessing your emergency fund as a stop gap between job loss and re-employment is totally legitimate.
Most experts recommend an emergency fund the size of 6 months worth of income. This should give you ample opportunity to look for new employment and rectify your financial situation.
Medical
We never want to experience a medical emergency, but as the average population age increases, more of us are becoming susceptible to health conditions. And with medical costs being such a finical strain, even with the best of insurance policies, it is worth considering your emergency fund to soften the blow.
There are often times where insurance will fully cover the health related problems and require no additional cash. If you are in the unfortunate position where the nature of the medical issue requires greater care, the costs can escalate enormously.
So using your emergency fund for this purpose is not only financially sensible, but essential for your wellbeing and happiness. We should always place a priority on our health, even if it means the old wallet taking a hit.
Transport
Transport related emergencies may seem trivial, and by their very nature not worthy of your emergency fund. But take a moment to consider the importance to your daily life of unrestricted mobility. Your job will almost certainly be solely dependent on your ability to use transport. And if this is affected, so will your ability to earn your income.
Maintaining your vehicle and or access to public transport is definitely a valid reason to use your emergency fund. I am one of those people who hates to spend money on their car. But recently I had a warning light come on, and was told by the garage that $500 worth of repairs was required.
This was an unplanned and unforeseen emergency and I required the use of my fund to cover the costs. My job requires me to travel, and therefore maintaining a working vehicle is an expense that must be paid.
Law
As I am sure most of you are law abiding citizens then the hope would be to never experience this sort of emergency. However, being on the wrong side of the law can happen to any one of us at any time. And having the right level of legal protection is imperative to our freedom.
You could be wrongfully accused of a crime, unknowingly committed an offence or just be caught up in something that needs to be cleared up. Either way, having a defence layer and the correct legal advice is an emergency where you should always use your emergency fund if needed.
Home
Finally, have you heard the saying ‘home is where the heart is?” Your home is one of the most important assets in your life, and should be treated so. If there are any problems that need immediate attention, they should not be left alone.
If you own your property, then this is possibly the single biggest investment you have ever made. And problems with structure, electrics, plumbing and interiors should alway be treated as emergencies.
Also, if you rent your property, you may still be liable for certain upkeeps and expenses. And failing to adhere to these may result in breech of contract. So anything that happens in your home that needs financial attention could and should be covered by your emergency fund.
Conclusion
Emergencies can happen, and should always be treated quickly and effectively. Your emergency fund was designed for such events, and so you should give yourself permission to use it.
You can always top up your emergency fund once you have depleted party of it. You should consider it as a fluid fund that needs to be adaptable to different situations. Hope that you never have to use it, but rest easy in the knowledge it’s there.