THE BIG BRAND THEORY
1.DISCOVER THE PURPOSE BEHIND YOUR BRAND
Every successful brand has a powerful purpose behind it.And so should you.It’s what you wake up every day loving to do for other people (and the world) through your product or service.
There are four questions you should ask yourself when defining a brand purpose:
- Why do you exist?
- What differentiates you?
- What problem do you solve?
- Why should people care?
You’ll use these ideas to inform the foundation of your branding, through a tagline, slogans, voice, messaging, stories, visuals and more.Studies show that 50% of consumers worldwide say they now buy based on a company’s brand values and impact.So dig deep and find those nuggets of truth which can distinguish your brand from others.
2.RESEARCH COMPETITOR BRANDS WITHIN YOUR INDUSTRY
You should never imitate exactly what the big brands are doing in your industry.But, you should be aware of what they do well (or where they fail).Research your main competitors or benchmark brands. For instance, study how well they have gone about building a brand name.For a brand name to be effective, it needs to be easy for consumers to recognize and remember.The goal is to differentiate from the competition. Convince a customer to purchase from you over them!
3.DETERMINE YOUR BRANDS TARGET AUDIENCE
The foundation for building your brand is to determine the target audience that you’ll be focusing on.
You can’t be everything to everyone, right?
When brand building, keep in mind who exactly you are trying to reach. You’ll tailor your mission and message to meet their exact needs.The key is to get specific. Figure out detailed behaviors and lifestyle of your consumers.
here are a few brief examples :
- Instead of “all Moms”, you could narrow down the niche to hone in on “single Moms who work full-time from home”.
- “Techy people” is too broad. But “tech-savvy early adopters who manage a large team” can narrow the focus in.
- If you are targeting “college kids”, there is definitely room to get more specific. An example could be: “college students studying abroad in Europe during the summer”.
- “Anyone who needs a job” is certainly not a niche target market. However, “retirees looking to return to the workforce in an executive position” can be!
As you can see, targeting a niche requires committing to something very focused to start
4.ESTABLISH A BRAND MISSION STATEMENT
Have you thought about your brand mission? In essence, you’ll have to craft a clear expression of what your company is most passionate about.
This is your why; the reason you get up every day.
Before you can build a brand that your target audience trusts, you need to know what value your business provides.The mission statement basically defines a purpose for existing. It will inform every other aspect of your brand building strategies.Everything from your logo to your tagline, voice, message, and personality should reflect that mission.When people ask you what you do: answer them with your brand mission statement.
You can use the information gathered from The Golden Circle exercise (see Step 1) to create a clear and impactful brand mission statement.
5.OUTLINE THE KEY QUALITIES AND BENEFITS YOUR BRAND OFFERS
There will always be brands with bigger budgets and more resources to command their industry.Your products, services, and benefits belong solely to you.Starting a brand that is memorable means you dig deep to figure out what you offer, and no one else is offering.Focus on the qualities and benefits that make your company branding unique.Assuming you know exactly who your target audience is (see Step 3), give them a reason to choose your brand over another.It’s important to note that this is not just a laundry list of the features your product or services offer to the customer or client. Think about how you provide value that improves consumers’ lives (outcomes or results that are experienced).
Here are a few examples:
- More authentic and transparent customer service
- A better way to support productivity
- Reducing costs with a more affordable option
- Saving time on daily tasks
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