So, you’ve zeroed in on the product you want to sell, but you’re still not sure how you’ll build a great brand. Creating a brand from scratch is no easy task. You have to create a great product, outsmart your competitors, market to your audience, and sell many products to stay in business.
The most popular brands are the ones that understand their target audiences. They create relevant messaging for only one target niche. They know their customers’ pain points and address them. Here’s what you need to do to build a brand from scratch.
1. Identify Your Target Audience
Business starts and ends with customers. Before you build a brand, you need to have a target audience in mind. When you identify a target audience, you have a clear focus on who your business will serve and why they need your goods or services. Determining this information also helps you focus on a niche market.
A good way to identify your target audience is by:
- Demographics and psychographics (hobbies, spending habits, ideals)
- The problem your brand hopes to solve
2. Research the Competition
Every brand has competitors. Performing competitor research helps you to build your brand in a unique way. There are problems in the market your brand may solve for consumers that your competitors won’t.
Identify your competition and perform competitor analysis. It will give you great insight into marketing, branding, and messaging. Your plan is not to copy everything they do, but to build your brand differently.
1 (800) Car-Title, a business offering car title loans online, researched its competitors and found that most weren’t focusing on social media. It started engaging prospects on social media and boosted its sales.
3. Use Unique Branding
In a world filled with many similar brands, it can be a challenge to make yours stand out. Performing competitor research and honing in on your target audience can help you build a brand that solves problems and sets itself apart.
Branding makes a memorable impression on consumers and allows customers to know what to expect from your company. It distinguishes you from competitors and clarifies that what you offer is the better choice.
Branding also helps you to build relationships with your target audience and eventually turn them into loyal customers. You can use it to create a company that people care about and put yourself ahead of other businesses that don’t use it to their advantage.
4. Define Your Brand’s Personality
A key step to building a great brand is to define its personality. Having a personality gives your brand a human touch. Think about your target audience and choose a personality they will love.
For example, Nike is seen as cool, exciting, spirited, innovative, provocative, and into fitness. This is because, for many years, the brand has been endorsing top athletes in different sports.
Don’t try to solve everyone’s problems, focus on what you can do. Come up with a mission statement that defines your brand well and let it tell the story of your brand.
The news and editorial staff of the Bay Area News Group had no role in this post’s preparation.