The Major objective of any business is to make profit and they hope to achieve this by becoming the number one choice for their customers. Building a brand that can achieve this is not an easy task given the rate of competition that exist out there.
The concept of brand goes a whole lot more beyond just your company logo and business values. It goes further down even to the interactions of your business with customers and suppliers alike.
Your brand is what you are selling to your customers, employees, suppliers and so it’s more than just a product or service. A successful brand does not sell a product or service, it sells an experience. This is what is required to create and foster the much needed emotional connection between your brand and its customers or indeed anyone that interacts with it
And so we shall proceed by discussing some of those factors that your must consider when crafting a winning strategy for your brand? See the points we enumerated below
- IDENTIFY YOUR TARGET AUDIENCE
The first step towards creating a winning strategy for your brand is to identify your target audience, this will enable you to do a better positioning for your brand. It doesn’t work to try to develop a brand that appeals to the general public. This is a mistake a lot of brands make and which you must avoid because it is counterproductive if not unproductive. The narrower you define your target audience the stronger your brand will be. It also allows you to stream line your key messages and objectives and get it right in front of who matter most to your business.
- YOUR BRAND SOLVES WHAT PROBLEM FOR YOUR TARGET AUDIENCE
Identifying your target audience is the first step. The second step is to identify the problems that the segmented group might have and which your brand is going to solve. The bigger this problem is for your audience the better the potentials for your brand.
- WHAT IS IT ABOUT YOUR PRODUCT OR SERVICE THAT MAKES IT A BETTER ALTERNATIVE
No matter the industry you are in, there are other brands that deal with related product or service. There will always be competition but the real question is what is it about your product or service that makes it a better alternative. It is called Unique Sales Proposition (USP). If there is a clear distinction in what your brand is offering compared to what is available then you have the advantage. This is of course harder for brands in highly competitive sectors. They would require sophisticated marketing approach to develop this differentiation.
- HOW CAN YOU BE BETTER?
It is a well known fact that being different is more important than being better. How you may wonder?. Being different creates a distinction between you and other brands and provides a clear advantage. Think of it this way, if you don’t get noticed , what difference does it make that your product is better? To be different and stand out should be your major consideration and you should keep this at the back of your mind when creating your company logo or developing your website, marketing copies and/ or collaterals.
- DO YOU KNOW HOW TO WIN TODAY?
Competition is an evolving battle. It never stops, it never ends. It’s one thing you must constantly monitor and evaluate for as long as you are in business. Smart brands do a lot of research and adopt effective strategies and techniques outside of their product categories. This is because marketing techniques that worked a year ago might just be obsolete today and so at the risk of not becoming static your brand has to evolve and apply forward thinking ideas. Successful brands apply this strategy as it enable them always stay miles ahead.
Do you have a contribution to the above discussion? Feel free to use the comments section below. We always look forward to hearing from you.