In the business marketing world, there’s always lots of talk about “branding.” But what does branding really mean? And how important is it, really?
Without exaggeration, intelligent branding is often the most critical cause of a company’s success (or failure!). Especially in today’s crowded digital world, it’s imperative that you stand out and get noticed. Your brand, how you communicate it, and who you communicate it to impact every part of your business. They all must be carefully researched, evaluated, and crafted. Working with experts like Proven Marketing can take your business to the next level.
Let’s talk briefly about what effective branding and marketing really means. …
First, Size Up the Competition
Before you start developing or improving your brand, you need to size up the competition. That means evaluating your main competition in every aspect: their size, identity, scope, products/services, audience, and so forth. Because, in short, your competitors determine everything. You can’t possibly know how to best position your company and stand out from the pack until you thoroughly know and understand those competitors.
Specialization is the Name of the Game
One crucial step in branding is to identify your particular specialization(s). Simply put, this means “what you do really well.” Once you know your niche, you should concentrate all your marketing energies in that area. And specialization is not limited to the products and services you offer. You should also consider other important elements, such as your specific customer base(s) and the particular market area(s) you cover. The more narrowly you can specify your niche, the easier it is understood in the marketplace.
Your Uniqueness is Your Ticket to Success
Differentiation is the most vital (and sometimes most challenging) aspect of branding. Often called your “unique selling proposition,” differentiation asks, “What makes you UNIQUE? Why and how are you different and better?” Don’t just blow quickly through this point. This is the keystone to your competitive advantage. It also requires precise answers. Simply saying “We give great quality and service,” says essentially nothing. Every company out there is saying that. Don’t underestimate the power of a strong unique selling proposition. Many a company has skyrocketed to success because of their ability to precisely carve out and convey their new or distinct niche, their specific “gift” that no one else could offer like them.
The Bread & Butter: Your Target Audience
It’s important to specifically define who your key audience is because they are your “bread and butter.” Your target audience is those customers in your market who most highly value your products/services and are the most likely to buy from you. The more you know about your target audience, the more effectively you can appeal and market to them. You need to step inside their shoes to understand what and how they think, their perceptions, their expectations, their wants, and their needs. In essence, before you can really speak to them, you need to learn their language.
The Conveyor Belt of Communication
The best message in the world will never be heard if it’s not conveyed effectively and through the right mediums. And for each business, that plan is usually different. At Global Advisors, we are specialists in developing customized marketing strategies for you and your business. We know how to make you stand out and powerfully convey this to your audience. We also have the know-how and access to quickly and accurately exploit the most relevant channels for maximum effect.
Let us help you discover your unique BRAND and give you the competitive edge to succeed.