There are so many businesses who overlook the impact that a unique, well executed branding strategy can have. Portraying a strong brand message and building awareness of that message is at the very heart of all successful businesses. Developing a winning brand takes careful consideration, but there are some key steps that should be followed. By doing so, you maximize your brand’s potential to generate higher sales and profits.
Here are five strategic ways to develop a brand that stands out from the competition:
1. Do Comprehensive Market Research
The first step you need to take is to have a good look at what you are offering in comparison to what your main competition is offering. Comprehensive market research is absolutely pivotal as it enables you to get a better idea of where you fit within your target market. Look at the most successful competitors in your field and look at how they have built their brand awareness. Try to understand their marketing strategy. Different types of products benefit from different marketing strategies. What works for one brand may not work for another. Amber Curtis from Amworldgroup.com says that the most successful way to promote your music is through sharing videos on social media. Will social media marketing work for your brand? Should you be hiring a professional SEO strategist? By researching successful brands you will be able to draw some useful conclusions which will benefit you when you come to developing your brand. If you want to stand out from the competition, you have to know what the competition is doing. As well as doing your homework on your competitors, do your homework on your customers. Customer surveys, focus groups and reviews on your website can all show you what your target market thinks of your brand.
2. Consider Your USP And Use It To Build Your Brand
The second step you need to take is to identify your brand’s unique selling point and then promote that USP to your target customers. These days, there is so much competition in every market that all successful brands must have something that makes them unique or they will simply get drowned out in the white noise of the market. Your brand is the face of your company. Think about Coca Cola. Coca Cola isn’t the white letters on a red background. Nor is it the famous shape of the bottle. But when you think Coca Cola that is what you think about. Your brand is the signpost to your business. It is your only chance at a first impression. Identifying your USP. It may be a function that your product performs better than the competition. It may be a fresh twist on an already established trend. It may simply be that your product is cooler than anyone else’s. Identify your brand’s USP and then sell it hard.
3. Initiate And Maintain Customer Engagement By Building Brand Awareness
Once you have developed your brand you need to announce it to the world through customer engagement. There are various ways to engage with your customers and it is important that you find the right strategy for you. As we have discussed, social media marketing is fast becoming the number one way to increase your brand awareness. It enables you to connect directly with your customers and to build reciprocal relationships with them online. A well thought out social media strategy is a relatively inexpensive and effective way to get potential customers to interact with your brand. As well as social media you can promote your brand on blogs and websites related to the area of your business. Generally speaking, a multi-avenue brand marketing strategy is more effective than a strategy that only focuses on one kind of marketing. If you want your brand to stand out, you need to have a presence wherever there are potential new customers or clients. Try to get your employees involved in the branding push. If everyone is singing from the same hymn sheet, then your message will be more coherent and will have a more lasting effect on your customers’ response.
A well developed brand is the best way to increase the size and success of any business and developing a unique and effective brand all starts with careful research. Look at what is working for you and what isn’t. Try to investigate what is working for your competition that you aren’t doing. Identify what makes your brand special and tell the world about it. With an effective brand comes a successful business. Follow this guide and start transforming your business today.