A brand is defined by the Oxford Dictionary as “a type of product, service, etc. made or offered by a particular company under a particular name”. This definition highlights how important branding is for the business. Many consider this as essential to consider a business to be successful. It distinguishes the brand identity from its competitors or stands out in the market to continuously reach potential customers.
Therefore, marketing activities like brand building, awareness, and development are important for any business. The popularity of specific companies like Coca-Cola, IKEA, Apple, and other industry leaders is proof that the brand itself is a product of marketing success. Want to know how to unleash the true potential of your brand? Here are some of the tips any business can follow.
1. Build Your Brand Identity with the power of the internet and social media.
More than ever, people depend on their smartphones and devices. As a result, businesses are now using the internet to get the attention of their potential and existing customers. Online presence makes it easier for the brand to be popular, especially when the target markets are the millennials or Gen Z. It is also a form of word-of-mouth advertising, where brands take advantage of the unique features of different social media platforms. Friends or followers can easily share posts from the brand, reaching more and more online users.
Having an online presence does not mean just sign up and let the followers do the walk. Getting a social media manager and tools will help reach digital marketing goals and objectives. It will ensure that the brand’s voice is maintained, which plays an essential role in brand awareness.
2. Know your target market.
As businesses would like to reach as many customers as they like, they still need to focus on their target market. This specific group of customers has the potential to be loyal fans, increasing brand awareness. If a business doesn’t know its target market, looking at the customer profiles will give an idea of what group stands out. Use the CRM (Customer Relationship Management) software not just to sort customer profiles but look at their activity or background with the business to know their personality, hobbies, or lifestyle.
Companies can also refer to their close competitors as well, but make sure to emphasize the market that they might overlook. Focusing on the target market will help formulate a strategy that will deliver a positive result for the brand.
3. Listen to feedback.
Whether it is said negatively or in a good way, feedback is a good way to know what should be improved. This goes beyond the product or services offered, like how customers feel the pain points in the retail customer journey. The reaction from the market improves the brand identity, which is what consumers think upon recognizing the brand’s identity. Highlighting the brand includes how people see it in different aspects.
4. Point out how the brand is different from the others.
Unless you are offering something that only your business can deliver, the products or services carrying the brand should be able to say how it separates itself from the competition. Start by looking at the Unique Selling Points (USP) and use them for making creative marketing content. If your direct competitor is in a challenging position known to the consumers, take advantage of it but make sure to be careful. Some may perceive it as a direct attack on the other brand, which can cause a backlash. Having a well-thought plan and proceeding with caution can make it well.
Some businesses have multiple brands or have subsidiaries offering similar products and/or services. In this case, make sure to make them stand out from each other without looking like a competitor. Consumers are getting smarter when it comes to recognizing brands, therefore it calls for out-of-the-box ideas that will catch their attention.
5. Consider rebranding.
Rebranding is done when they would like to change the corporate image of the business. It is also an opportunity to create a different identity from what consumers see of the brand. The process will involve changing the brand logo that should make an impact on consumers. It involves being creative that reflects not just the mission and vision, but what can the business deliver to its customers.
When done effectively, doing this can make significant changes successfully such as the target demographic, adapt to new market trends, or give a refreshing retouch on the brand design. Most importantly, analyze the market and competition to create a strategy that stands out from the others. While you are at it, why not create a catchy tagline that will surely grab anyone’s attention?
6. Interact more.
Always be responsive to the consumers through different communication channels. This helps them feel that the brand is easily reachable and open to inquiries. However, you must think about your target audience and what will appeal to them. Responding to them plainly is not enough, as the brand voice should also be considered. The small details you put into the conversation can create a big impact that will give the brand a positive outlook.
For example, teenagers would be more likely to use social media to reach out to the brand. Use the special features of the social media platform like creating a personalized emoji sticker or GIF. If this is the brand’s target market, make sure to always keep up with the current online trends and join the bandwagon. See how easily they can make the brand more known in the same age group.
Traditional methods of promoting the brand such as TV ads and billboards are still a great way to reach the brand’s true potential however digital advertising provides multiple channels to create brand awareness and reach more audiences. The secret to making it effective in the modern age is to make it a highly creative ad that encourages interaction with the brand. As this helps reach the right customers, it will also result in increased sales when done in the right way. Always be open with different ideas – this might be the key to unlock the true potential of the brand.