Blog

How to plan your brand

Aimee Carnwath

Aimee Carnwath

5 August 2024
A lot of small-to-medium sized businesses, including most financial adviser firms, do not necessarily have a complete brand strategy. Brand strategy goes beyond picking a colour and a font – when marketing teams discuss brand strategy, we mean a plan to control how customers perceive your brand.

Your brand is important for more reasons than most people consider. The world’s leading companies owe much of their success to their brand, therefore it is important to spend some time on why it can be so valuable. Your brand tells people what to expect from your company. Simply this may mean communicating what types of services you offer. It can also indicate the type of service you provide – for instance, a company that makes use of a Times New Roman style font and simple, refined images and colours are likely to be perceived as a brand with more heritage, who offer a more traditional service, whereas a company with bold text, bright colours and illustrations in place of photos, would likely be perceived as a more modern, less formal business. Neither of these brands is necessarily better than the other, but both serve different purposes. It’s important that your brand is closely aligned to your businesses offering and how you want to be perceived.

Being easily recognisable is also an important part of your brand. We all see so many brands every day – in our inbox, through our letterbox, on social media. A strong brand makes it easier for customers to recognise your marketing at a glance, holding their attention where you need it. This can also help with repeat business, as customers will be more likely to build a strong connection to the brand and recall it when they need your services again.

As we discussed previously, when we talk about brands, we mean far more than just a logo and colours. At its core, a brand exists to support the core identity of your business. Some of the key elements of a good brand include:
 
  • A Logo. This is the first thing that comes into most people’s heads when we start talking about brands, and for good reason. It’s the cornerstone of the most recognisable brands in the world. A good logo can carry a lot of weight, so it’s important to make sure it works. Your logo should be easily recognisable at all sizes, unique to your business, and accurately represent the services you offer.
  • Colours. It is difficult to imagine an iconic logo without also imagining the rest of the colours that go into a brand – McDonalds’ iconic golden arches on a red background for example. Therefore, it’s important to pick colours that represent you well.
  • Fonts. As we discussed before, your chosen font can say a lot about you as a business – are you more traditional, modern, friendly? Your font can say a lot about your business and influence how people perceive your tone of voice.
  • Tone of voice. Your tone of voice is exactly what it sounds like – how does your brand speak? If you want your brand to be perceived as modern and friendly, then overly formal language across your website and emails may not be giving your customers the same message. Likewise, if you want your brand to be perceived more formally, be careful your language doesn’t skew more friendly.
So, keeping the above in mind, how can we tell if your brand is currently serving your business effectively? There are a few things we can mentally check to see if this is the case:
 
  • Do your customers get your brand name correct? Or do they prefer to shorten it, or add an ‘s’ on to the end? If your customers do this, then your brand name may not be as recognisable or as memorable as you think. You don’t need to change it, but perhaps there are ways that it can be more clear to customers, such as updating your logo, or changing where it is displayed.
  • Are new customers coming directly to you, or to the company first? This could be a reflection on whether your personal brand or your company brand is stronger.  It makes sense for repeat customers to contact you directly, but for new customers it would make it easier to grow your business with a prominent brand.
  • Do you tend to attract your ideal type of customer? For example, if you consider your business to be forward-thinking and modern, using tech solutions to help your customers, but tend to attract customers who don’t want to use the technology, then maybe your brand needs to be tweaked so customers can adjust their expectations.
Now we’ve discussed the key elements of a good brand, and how to identify any key weaknesses in your current brand, we’ll now break down, step-by-step, how to make changes to your brand once you have your new brand ready to roll out.

Firstly, try to roll out your changes simultaneously, everywhere your brand is displayed. This will reduce the chances of customers seeing both old and new brand elements, reducing the opportunities for confusion by showing a consistent message. For large brand changes, such as a name change, then arrange for external communications to be sent out – this could be an email to existing customers, along with social posts outlining the changes that have been made, reassuring customers that it is the same company, still offering the same service.

Consistency is key when it comes to brand. Keep the same colours, logo and font across everything to ensure your audience recognises it as your firm. You can even create a brand guideline document for you and your team to look back on and refer to. This guide could also be sent out to external companies, such as marketing agencies, if you ever need to outsource any design.

Brands take time to develop. Iconic brands were not iconic from the start, but with time and consistency, and an association with quality products and services they were able to grow into the type of brands we look up to today. Time and consistency is key when it comes to investing in your brand, but in the long run it is something that will pay itself back over and over again.

Reading this blog counts towards your CPD!

Click here to add this session to your Paradigm CPD log.


16 October 2024

Your Business Matters


7 October 2024

What may impact BTL and Resi markets in 2025?


1 October 2024

Why Gen Z could be the perfect match for protection


30 September 2024

Self-employed mortgages can be easy, if you choose the right lender


26 September 2024

Lenders and regulators must be careful not to add to adviser disillusion


19 September 2024

There may be trouble ahead…


2 September 2024

Source Go: The Modern Answer to the GI Question


29 August 2024

Pre- and post-mini Budget remortgagors need guidance in transformed market


23 August 2024

Guardian's 2023 claims report: a milestone worth celebrating


14 August 2024

Rate cuts are a positive story for advisers


7 August 2024

Mind the gap (s)...


1 August 2024

The mortgage market is set for a teeming H2


29 July 2024

Aldermore are backing more of your clients to go for it


22 July 2024

YOU SAID, WE DID!


12 July 2024

A surge of optimism for the market


9 July 2024

Distribution of Wealth


3 July 2024

Consumer Duty one year on – what might happen next?


24 June 2024

How to increase your protection business


17 June 2024

Consumer Duty will mark new era of continuously changing advice


6 June 2024

Mental Health Matters: Workplace Wellbeing


21 May 2024

Advise or refer? Ensuring the best possible outcomes for your clients


15 May 2024

Darlington Criteria Updates


14 May 2024

And The Wait Goes On


10 May 2024

Cap on broker fees sparks industry debate


1 May 2024

Expect the unexpected


15 April 2024

Ready, set, remortgage!


12 April 2024

How the mortgage market is failing new arrivals to the UK


11 April 2024

A compliance refresh will lighten unavoidable market stress


4 April 2024

What is driving the Specialist Residential and Buy-to-Let markets this year?


4 April 2024

A Government that prioritises owner occupiers at the expense of the PRS


28 March 2024

What is your website for?


19 March 2024

Exploring the value of value added benefits


4 March 2024

Artificial intelligence – friend or foe to advisers?


21 February 2024

RESTRICTIONS LIFTED?


9 February 2024

Trust your own gut when listening to market predictions


7 February 2024

Strategic thinking - Is this time for a new look at how we work as a business?


8 January 2024

The Name's Bond...


21 December 2023

PTs remain a big part of the marketplace


21 December 2023

Not all wine and roses but outlook is better


15 December 2023

Artificial Intelligence: A vision for the future


12 December 2023

Reflecting on 2023


11 December 2023

Mental Health Matters: Menopause


8 December 2023

Looking ahead: Reasons to be cheerful about the market in 2023


17 November 2023

Why TikTok could be a winning tactic for brokers


30 October 2023

How advisers can improve the quality metrics with insurers


27 October 2023

The Aggregator Market - Friend or Foe?


25 October 2023

Don’t let Charter support remove advice from the mortgage process


3 October 2023

How to strengthen your defences against cyber threats


29 September 2023

White Dragon Communications


8 September 2023

Advisers deserve recognition for keeping borrowers on lender books


8 September 2023

Claims history of an insurance should form core part of assessing true value of insurance and advic


23 August 2023

The good, the bad & the ugly of using Artificial Intelligence (AI)


14 August 2023

Accessibility in your marketing


14 August 2023

Choosing the right social media platform for you


7 August 2023

Staying safe online


4 August 2023

The blasé attitude towards sudden mortgage withdrawals is not good enough


1 August 2023

Is your content compliant?


10 July 2023

The argument for higher proc fees for better quality business is undeniable


22 June 2023

Product withdrawal timescales and how brokers can adapt


1 June 2023

We're not in mini-Budget territory yet!


24 May 2023

Skipton’s 100 per cent mortgage should be replicated, not feared


30 April 2023

Protection And Mortgage Fair Value Assessments – What Is My Actual Responsibility?


6 April 2023

Lenders will compete on mortgage rates, but don’t expect a price war


27 March 2023

Vulnerable Customers and Economic Abuse


10 March 2023

Tell borrowers to stop waiting for mortgage rates to fall


7 March 2023

Mixed messages from Bank of England boss ahead of MPC meeting


6 March 2023

Take the Consumer Duty seriously when it comes to protection


17 February 2023

Mortgage Market Update


10 February 2023

Let’s not be hasty and write off this year’s property purchase appetite


6 February 2023

Implementing Consumer Duty


9 January 2023

Income Drawdown – moving with the times


9 January 2023

Why it’s so important you tell us about your vulnerable customers


5 January 2023

Why advisers are so vital in the mortgage market


Paradigm

THIS SITE IS FOR PROFESSIONAL INTERMEDIARY USE ONLY AND NOT FOR USE BY THE GENERAL PUBLIC.

APCC MemberConsumer Duty Alliance

Paradigm Consulting is a Member of the Association of Professional Compliance Consultants and also the Consumer Duty Alliance.

Paradigm Consulting is a trading name of Paradigm Partners Ltd
Office address: Paradigm Partners Ltd, Paradigm House, Brooke Court, Wilmslow, Cheshire, SK9 3ND
Paradigm Partners Ltd is registered in England and Wales. No.09902499. Registered Office: As above

Paradigm Mortgage Services LLP
Office address: 1310 Solihull Parkway, Birmingham Business Park, Birmingham B37 7YB
Registered in England and Wales. Company No: OC323403. Registered Office: Paradigm House, Brooke Court, Lower Meadow Road, Wilmslow, SK9 3ND
Paradigm Mortgage Services LLP is a Limited Liability Partnership.

Paradigm Protect is a trading name of Paradigm Mortgage Services LLP
Office address: 1310 Solihull Parkway, Birmingham Business Park, Birmingham B37 7YB
Paradigm Mortgage Services LLP is registered in England and Wales. Company No: OC323403. Registered Office: Paradigm House, Brooke Court, Lower Meadow Road, Wilmslow, SK9 3ND
Paradigm Mortgage Services LLP is a Limited Liability Partnership.