3 Essentials to a Successful Brand
A brand is the reputation of your product or service that distinguishes it from the rest in the eyes of the customer. Brand building means creating customer value and high recall value. Brands can be of various types such as individual brands, personal brands, service brands, disruptive brands, geographical brands, corporate branding or co-branding. There is one thing absolutely important and common between any type of brand, that is, brand building, an absolute MUST if you are in it for a long haul.
But how do you successfully build your brand? Branding & marketing is a continuous process and here are some vital steps for a successful brand building process:
Step 1: Know Your Target Audience
Who does your brand cater to? Will your product or service be used by children or adults? Men or women? Working professionals or homemakers? There are several parameters that are important to look at to define your target audience so that your brand communication attracts the desired group of people. Talk demography, age, gender, income, interest, and other psychographics of your target audiences amongst others.
Step 2: Define Your Brand Positioning
What does your brand stand for? What do you want your audience to know you as? Essentially have you thought of your: deliverable | desirable as well as the differentiated?
Start by defining the values you want to be known for so that your audience base can relate to your brand and trust it. This statement will define your brand communication route through all channels, your brand language will reflect your brand vision and mission.
Step 3: Known Your Competition Like the Back of Your Hand
List down your competitors by conducting a thorough research. Analyze their website, social media accounts and press releases or blogs to understand their brand strategy and language. “Pretty recently, while racking our brains about the marketing strategy of a certain brand’s competitor, we got major insights by reading the Founder’s interview. This helped us immensely as a marketing agency,” says a Project Lead. Jot down the differences between your brand and theirs and leverage your distinguishing points. Establish your USP’s or talk points by differentiating yourself from their talk points and strategize how to convince your target market that you are their most apt choice of brand.