Starting a new company or business is overwhelming and marketing your product can seem even more impossible. As technology advances, so do advertising strategies and making decisions on how to reach your customer is even more vital. Before you dive into the details it is important to decide who your company is, what it stands for, and who you are talking to – also known as your brand. A brand is shown to be the foundation of a company and once it is clearly defined, marketers use it as a guide in making a variety of other decisions. Here are a few things to consider when defining your brand:
Who is the Audience
Defining your target audience is an important step in deciding who your brand should be. This often requires some research to dig in deep. Recruitment of an advertising agency in the Bay area may come in handy as they often have access to recent market studies. Once you have found information on who is interested in your product, you may realize that you have an opportunity to tap into potential consumers who have not been reached. For example, say you are selling specialty baby products and have been targeting expecting mothers. Audience research may reveal that grandmothers are purchasing products similar to yours even more than expecting mothers as they want to spoil their new grandchild with fancy clothing. With this newfound information, you may want to consider a change in your messaging and ad placement.
Who are the Competitors
Differentiating yourself from competition is important in any business strategy. Taking an honest look at how competing brands are positioning themselves can give you insight into what is working and what isn’t. It also may be helpful to look at brands who you do not directly compete with but have similar audiences as they may have innovative strategies to target your customer.
What is the Tone
Deciding on a voice and tone for your messaging has been shown to make advertising much clearer. Also referred to as brand personality, voice and tone directs a variety of other decisions such as font style, photos, and colors. Creating a brand that your audience identifies can last much longer than any product you sell.
What is the Story
Everyone likes stories. Incorporating a story in your brand that the audience can relate to can make your company memorable. This story should be authentic and reflect what your brand promises and stands for.
While branding is an investment, marketers who define theirs have proven to set themselves apart from competition and increase their value. Knowing your brand can help you to reach your target customer and gain brand loyalty.