Before diving into creating your brand, it is important to ponder some important queries, so that you can be well armed with the right information to help you navigate the venture. These questions as seen in our previous post, will jump-start your mind to not only start your business but to also help you overcome every storm in this world of business. Your motive should always be to succeed and expand.
Now, let's dive into these simple but interesting questions together.
1. Who is your Target Audience?
You should think
carefully on who you are going to sell your products or services to. This will help you greatly when it comes to the location of your business, (if physical) and the marketing strategies that you are going to employ.
For you to be able to know your target market, you need to analyze your product carefully and note the following;
Is your product gender sensitive? E.g You may not want to market ladies' sanitary wares in an area dominated by an unmarried male population.
Does your product cover a certain age group? E.g. setting up a baby and kids shop in an area dominated by college students.
Is your location right? Set your business in a location where you will maximize your sales. E.g. It is common in Kenya to find people selling fruits a few steps from a hospital because most people visiting their loved ones in that hospital will need fruits for the sick.
Income of your prospective customers versus the price of your product. Consider the income of the majority of your target market to the price of your products. No matter how many times we turn a blind eye to this, some products are more suitable for high and medium-earners as opposed to low-income earners. You're likely to drive more sales if you choose your target market/ audience right. This goes to both online and offline entrepreneurs.
2. What is your Voice? (a brand should speak for you)
Just like a poem or a song, a brand also has a voice, and in the voice, we have a tone.
You must understand the nature of your brand very well so that you can decide on the best tone to use. Tones can be friendly, authoritative, innovative, and so on. Remember a brand goes beyond the profits, it offers an emotional connection to the people who interact with it.
Think of Nike, Tesla, and Chanel; these are brands with different voices. There is a way you associate with Nike, for example, when it's mentioned. Nike has what we can call a motivational voice, whereby it encourages its users to achieve their dreams. Tesla has a futuristic and innovative voice, while Chanel gives sophistication and elegance.
These are just but a few examples to show you how to give a voice to your brand. It takes time, money, and effort to establish a brand but it is worth it in the long run. There is a reason why you would buy Nike shoes even when the market is flooded with similar products, some even cheaper, it is because you are loyal to that brand.
Conclusion: A voice is a story behind your brand, your mission, purpose, and values that will encourage the audience to buy from you and not your competitor.
Are you unique? trustworthy? do you have integrity?
Once you answer those simple questions, you will be able to build a community that is loyal to your brand.
3. What is the Purpose of your Brand? (What do you stand for?)
Being able to know the reason you want your brand in a particular manner and not in any other form will help you to know its purpose. Remember, your brand connects emotionally with its audience through its voice.
The main purpose of a brand is to gain the trust of the audience and to make them choose you over your competitors.
Consider having strong core values that set you apart from the rest. what positive impacts will you have on your audience?
Establish the problems that you will be solving for your audience so that you can foster a trustworthy relationship with them.
4. Do you have a Marketing Strategy?
It goes without saying that in today's business dynamics, it is critical to craft your marketing strategy wisely if you want to break even.
The marketplace is flooded with similar businesses as yours, it is up to you to make your presence visible out there.
By now you already have an awesome brand, you've chosen your target audience very well, your voice is distinct and unique, you've established the purpose of your brand and you can feel your potential customers already relating with the brand, but there is a small glitch, how will you reach your audience?
We will dig deeper into the best marketing strategies in our subsequent posts, but just to point out a few marketing tactics, consider a strong digital presence, social media marketing on major social media platforms, and content marketing.
Arm yourself with patience, and consistency as it takes time to break even. Always maintain a great quality and never forget the purpose of your brand.
5. Do you know your Competitors?
It is important to know who your competitors are, not to copy them, but to be one step ahead.
You want to be on top of the game and that's why it is important to capitalize on your competitor's weaknesses for your benefit.
Always remember to be clean and unique, and aim to trend for the right reasons.