If you’re wondering, the answer is probably YES.
If you are wondering if your branding strategy could use an update, it probably could. Nowadays, branding is more than just great colors and a catchy slogan, it’s the way your business strategically meets the needs of your target audience. With an effective marketing strategy, you have the ability to win your audience over by utilizing the right message at just the right time.
When you come to the realization that it is time to overhaul your strategy, you have to start at square one. So, how do you get there? Here are the five steps that you need to get your branding strategy in a position to effectively win new business.
1) Analyze Who Your Actual Target Audience Is
Knowing who you are talking with is a critical factor in branding. You need to know what the commonalities are among your current target audience and what you need to do to be relatable. Sometimes, your ideal audience and your actual customers are two different personas. It is important to determine the similarities and differences in who you want to be associated with. As you look to effectively reach your desired audience, it is critical to analyze demographics and consumer behavior reports in order to find ways that you can connect.
2) Determine Where You Need To Focus Your Presence On Social Media
Your social media presence requires a focused effort. On associated platforms, you have the ability to position your brand in any light you see fit. While branding is usually associated with traditional marketing efforts (logo, colors, etc), social platforms give you the opportunity to be yourself online and showcase your strengths through your interactions with customers and other businesses. The best part? These platforms are all about building relationships, not just trying to sell a product or service. This opportunity gives you the chance to develop loyalty amongst your fans. In this realm, it is important to know what platform your customers are actually using. For example, baby boomers will not likely be on TikTok. In addition, Gen Z folks will likely not be on Facebook. If you are unable to determine which platform your targeted audience is using, just be sure that you are active on at least two or three of the most popular ones.
3) Look For Opportunities To Be Remarkable
With branding, it’s important to stand out from your competition in key ways. Find ways to differentiate yourself while keeping your key pieces of information front and center. You want people to take notice of your brand when they hear about you, so focus all efforts on effective strategies that will make it easy for people to remember exactly what makes your company stand out. Keep in mind what sets you apart from others. No matter what industry you are in, your brand has selling points that make it unique. In many cases, being remarkable is about timing. Being able to be quick to respond when a cultural event happens is key to differentiation.
4) Tone Down the Hype
Are you investing large sums in your branding strategy without seeing results? In some situations, your efforts may be too flashy, overstated, or just plain cheesy. Nowadays, many customers appreciate genuine content that is relatable. It will be apparent that your branding needs a refresh when it seems like clients are tuning you out because of all the noise surrounding branding today. This is something that is difficult to grasp for many brands. If you are struggling with this piece of your strategy, it is important to work with an industry expert who understands the trends of the market.
5) Stand for Something
What is your stake in the sand when it comes to marketing? What separates your business from others? Are there things that make it appealing and unique? Make sure that your branding is speaking for itself by being part of a greater purpose. This branding strategy will speak volumes to people in a meaningful way.
Summary
Asking yourself the question, "Is my brand in need of an overhaul?" is an essential question that all companies must consider. Branding is the foundation of any company. It reflects everything about your business including your reputation, your customer loyalty, and your position in the marketplace.
