Some people get really comfortable running their business without proper branding until they see a new competitor step into the space and starts dominating in no time. This is often when they realize that they have been focused on marketing and making sales without any proper branding.
Speaking during the Nairametrics Business Half Hour show, Farouk Akinbola, Founder and CEO of Envy365 narrated that it could get challenging trying to convince them to see the need for a brand identity and how it works with their marketing strategy in the scheme of things.
“Some of them are content to just have a signboard with the business name, a logo that may or may not communicate their business essence, and a digital profile that does not say much. Branding is the distinguishing factor in a market that is filled with competitors. It tells the consumer that you are a better choice for them,” Akinbola explained.
As founder and CEO of a full-service branding agency – Envy365 – Akinbola noted that the market is getting very competitive and only strong brands will maintain their growth in the midst of it all.
“Your brand is what people feel that you are and what they know you for. Without strong branding, everything will be off. Even your marketing strategy may not come together the way you want it. Proper branding sets the stage for marketing, a product or service launch or any other thing. We prepare you to go out to the market, starting from your brand identity and perception. We work on your digital platforms and so on, and all these are part of your brand presence and identity.”
According to him, some come with a skeletal framework of what they want their business brand to communicate while some others know exactly what they want.
Envy365 started six years ago as a music marketing platform with Akinbola making graphic designs and taking photoshoots for music albums. At this time, it was more of a side hustle. He later moved on to start offering similar services to some fashion brands. After his National Youth Service Corps, he decided to structure it and make it into a proper branding and media agency.
Within six years of doing business, Envy365 now has a client base that is a mix of corporate bodies and individuals within and outside the country. The team offers a wide range of services around branding from graphics designs, to content creation, website design and hosting, IT, among others; to new brands as well as older brands seeking to revive and relaunch.
To fully equip himself to offer this service, Akinbola did a full branding course at the University of Arts, London, a photography course at the London School of Photography, as well as an IT course. In addition to having a first degree in business management, the team is undoubtedly qualified to render the services they do.
Based in Abuja, the team has built a diverse portfolio of several jobs and clients in five years, each unique in the offerings and delivery. However, Envy365 has been hit by currency devaluation in recent times, just like many other businesses operating locally and depending on some foreign product or service.
“We have to make some purchases and subscriptions in foreign currency, and with the current situation now, we are spending way more than we did last year. This affects costs of operations but not the services that we deliver,” Akibola stated.
Akinbola wants to push Envy365 to become an African brand in the next five years and a global brand in the decade.