Do you know what are marketing costs of Apple, Coca Cola, Nike, Starbucks? …these are top brands of the world. Many loves them, some criticize them, but there is no guess who would not know them. No matter what sector you do in business, you are likely to compete against someone stronger with a bigger budget and a fleet of loyal customers you just cannot persuade to buy from you. Let us say you have had a decent website, sometimes you hang some of that photo on Instagram, you have also tried flyers with a nice design, but you are still waiting for it to bring you some decent profit. That is why you are not even thinking about embarking on an Apple or Nike-style campaign, where marketing costs are set to high level.
Many small businesses associate brand building with high marketing costs campaigns and therefore reject it as something they simply cannot afford. However, the reality may be quite different. What would you say if one investment saved you a lot of money today in the future? That is what a brand’s marketing strategy is all about: If set up correctly, it will save you money in the long run-on expensive campaigns to retain your customers. Your brand will become your ad, regardless of the budget you have set aside for marketing during that time. Wondering how it all works?
Let us take it step by step.
What is branding?
Branding or brand marketing is the process of building and developing a brand. The result of a properly set strategy is a brand or a brand that represents your company. In a world where everything is extremely easy to copy, a brand can be the most valuable thing you build your business. The strong brand that customers like goes far beyond your products and services. Your brand tells a story, and your goal is to draw your customers into its story.
So how should you proceed in building your brand?
1. Identify your target audience
[ Who are your customers? ]
If you are not a completely newcomer to the business, you probably have a rough idea of who your customers are. However, such an idea may not be enough if you want to succeed and outperform your competition. In addition, advertising set up based on estimates and conjectures can cost you a lot of money without producing the expected results. What else should you do?
Gather information about your target market
Do you have your own website? Google Analytics helps you find out who visits your site, the age and gender of your visitors, the way any of your site is discovered, and how much time they spend on your site. But do not just stop there.
Ask your customers
Reach them by phone, email, or share polls and surveys on your social networks. Your resellers are also a valuable source of information. Ask them who your most likely customers are and what questions they ask before they decide to buy from you.
Create persona of your ideal customer
The closer and more detailed your customer is, the better. Women, men, children, athletes are too large and diverse groups to effectively set up a brand strategy. Think about where your customers live. How do they spend their free time? Do they have children? What is their monthly income? What problems they must deal with every day, and how your product or service can help them.
An analysis of your target market and the ideal customer is the foundation of any good brand marketing strategy. This information will not only help you target your ad to a group of people with the greatest potential to become your customer, but also build trust and recognition of your brand through more intimate communication with your audience with the resulted effect of low communication costs.
2. Determine the mission and vision of your brand
[ Why did you decide to start your biznis? ]
The mission of the brand represents the main purpose that the brand is to serve and at the same time the way in which it wants to approach its vision. On the other hand, the vision of the brand provides information about where the company should be if it manages to achieve the set mission. In other words, your vision and mission should clearly define why you decided to start your business and how you will present yourself to your customers and employees, or other business partners.
However, a well-defined vision and mission of the brand is also an expression of why people should be interested in your company and what solutions you provide for them.
3. Determine the core values and benefits of the brand
[ What makes your brand unique? ]
There are likely to be several companies in your sector offering similar products and services. The role of a brand’s marketing strategy is, among other things, to determine how your products and services differ from your competition. Is your brand environmentally friendly? Do you provide 24-hour customer service? Do you contribute to charity? Do you offer handmade products, each piece is original? Incorporate it into your brand.
4. Give your brand a visual look
[ What is a logo and is logo a brand? ]
A logo is a graphic symbol that represents a company, corporation, or organization. A concise and visually appealing logo is certainly an important part of branding, but it is not enough to create a strong brand. Your marketing strategy should also set other visual elements of the brand, such as the colors that will represent you or the font that you will use.
In this area, it is often better to turn to professionals who, in addition to the logo, will also prepare a clear manual on how to work with the visual brand, thus ensuring consistency and uniform presentation of the brand on the outside.
5. Set appropriate brand communication strategy
[What personality would your brand have?]
A good brand is not just about quality products and services. Your brand should also communicate a certain emotion and experience for the customer. Try to imagine that your brand is a man of flesh and blood? How would she introduce herself? What should she wear? Would she communicate with you informally or in a professional tone? Could she make you laugh? What would make your first impression?
This exercise will help you figure out how your brand should affect your customer. Based on this, you can then set the communication strategy and tone of your brand when in contact with the customer.
6. Let your brand working
[ Where everywhere should your brand be representing you? ]
A well-adjusted brand should represent you in every contact with your customer. Here are some tips on how a brand can become part of your corporate identity:
Use the logo and other visual elements of the brand on your website. Remember that its content, product description and Call to Action (CTA) should be written in accordance with the brand’s communication strategy.
- Let your brand speak for you on your social networks. Use your logo as a profile photo to make it easier for customers to identify you.
- If you are selling a physical product, your packaging should reflect your brand.
- The ad you release to the world should be set in accordance with your brand strategy. Good branding, a predefined communication strategy and a manual for visual branding can even make it much easier for you to prepare any future advertisement.
- Your employees also represent your brand. Whether they answer customer questions or represent your business, encourage them to use your logo and your brand tone.
The brand strategy set in this way will set a clear direction for your business, thanks to which you will be able to invest your time and money only in activities that will bring you the highest profit. In addition, building a relationship with your customers contributes to your credibility, which can be crucial in the future as new players enter the market with competitive prices and products. The Edelman Institute ‘s 2019 study on brand credibility even showed that as many as 81 percent of consumers surveyed need to trust the brand they buy from.
Have we convinced you of the branding benefits, but do you still find the whole process a bit complicated? We will be happy to help you with the whole process with the effect of low marketing costs.