Do you ever wonder how companies like Amazon, Jumia and Konga became successful? Or how Apple became a global giant despite starting their business in a small garage? The answers to these questions lie in strong business branding. Overtime, consumers desire and journey continue to evolve. Having a strong product is not enough of a reason for a consumer to buy something anymore. To improve your brand strategy, creating a brand that resonates with your customers should be your major focus in other to take your business to the next level. However, before you can develop your brand, there are some questions you have got to ask yourself about your company.
6 Questions to Ask yourself to Improve Your Brand Strategy;
Do you know your story?
The first and most important question to ask yourself when defining your brand’s strategy is what story exactly are you selling through your brand. Your story represents the image of who you are and what to do. Consumers do not just want to buy a product; they want to buy experience too. Your Company’s story is often derived from value proposition and should provide context as to where your company is, has been, and where you plan to take it to in the future. The objective of your story should be to capture your audience and their attention. Your company’s goal should loosely align with all aspects of your business strategy. Therefore, creating a compelling story will make your prospects see greater value in your product thereby improve your brand strategy.
Do you know who your ideal customers are?
The second question to ask yourself when improving your brand strategy is who your ideal customers are, and of course how you will reach out to them. There are two things you must consider when thinking about your ideal customer. They are your “ideal customer profile” and “buy personas”. The ideal customer profile relates to the type of company you are looking to sell to. Factors like industry, company size and annual revenue should be analyzed. This will give you a better understanding of the company and if it needs any form of alignment.
Once you have come in terms with the type of company you will target, you will need to develop your buyer personas. Your buyer personas refer to the specific people within a company who you will be selling to. After identifying your buyer personas, the next step will be to identify what the person cares about and what challenges they are faced with on a daily basis.
What brands do you admire?
One of the best ways to make improvements to your brand strategy is to analysis the strategies of brands you admire. You have to observe and understand how these brands communicate to their audience? These companies you admire, do they have methods or ways of communicating with their audience. Do they have common themes or strategies similar to your company? How can you actually emulate these brand’s strategy without copying their strategy? Finding the answers to these questions will help you find new and creative means to market yourself to your audience.
Are your competitors doing something different?
Business owners often shy away from admitting the strengths of their competitors, but to be honest it is actually very helpful to do so. I know this might sound difficult, but sometimes you have got to put your ego aside and acknowledge the areas of business where your competitors excel. You can start by analyzing your top-performing competitors make a list of their strengths and weaknesses. From there, you can brainstorm on a number of different ways you could differentiate your brand from them.
What core value and attribute are your brand expressing?
The last but definitely not the least thing you should consider when creating your brand is core values and attribute you want your brand to represent and express. Determining what qualities of your brand are important to you can be drawn out through your brand personality. For instance, if you decide that you desire your brand to appear strong, you must decide on bold brand colors and designs that imply strength like black and red. If you wish to portray a witty brand, you might want to leverage on a lot if cleaver gifs in your social media posts.
Once you have determined your core values and attributes, I suggest you make a list of all the words that you want to be associated with your brand. This is extremely paramount, especially if you are working in a crowed market.