Branding Strategy: Questions To Ask

Branding Strategy leads to strong brand equity. With developing a branding strategy, comes a lot of research to be done.  You need to understand and learn the needs (both the explicit and latent needs) of your current or future prospects. The customer’s emotional response to product/service matters—how they react when they see your product/service is very important.

There are a few basic questions to be asked when planning a branding strategy. First, you need to understand the business.  Second, the target user/audience. Technological questions (what is possible) may come later after understanding the business (what is viable) and the User and Context (what is desirable and necessary).

WHO ARE YOU AS A BUSINESS?

• What are your core values as an individual?
• What compelled you to start/join your business?
• What are your company’s core values?
• What specific needs do you solve?
• Who are your competitors?
• What is unique about your service/product?
• What would you like to gain from the service/product you offer? (Make more money, increase your market, become a key influencer, enhance your reputation)

WHO ARE YOUR TARGET AUDIENCE?

• What is the age range of the customers who want your service/product?
• What is the income level of your potential customers?
• Which gender would be most interested in this service/product?
• How will they use this product/service?
• What do your customers value the most?
• Is this an impulse buy or something they are saving for?
• Where is your target audience located?
• Where do they get most of their decision making information?

A product/service may be good, but, if the user does not find it desirable, the product/service will not succeed. So it is quite important to not rely on what you think your users/target audience thinks—rather know what they think. What people say, what they do, and what they say they do are completely different things.

Additionally —there will consistently be somebody “better” than you; the most ideal approach to contend is on an alternate field. For instance: Facebook didn’t need to be “better” than MySpace, it was different and eventually won out, Spotify didn’t need to be “better” than Pandora, it was unique and has been crushing it, Netflix didn’t need to be “better” than the typical film leasing systems and now network television, it was unique and the people picked it.

Screen your opposition and discover the holes. It’s similar to what Samsung has done against Apple. You don’t need to fight for quality, get the individuals who don’t care the slightest bit about what your opposition offers. Benefit off of belief system. A few people don’t have confidence in paying $1200 for a phone that they believe is only slightly updated every 12 months. That is the reason Samsung ridiculed those individuals and embraced the other portion of the market with their “the next big thing is here” crusade. Similarly, as Samsung is promoting off of what Apple doesn’t do, Apple promoted off of what Microsoft didn’t do.

There is consistently room to appear as something else. To take a category that has been attempted and tried, and afterward apply what individuals need? Where there is demand, you develop supply, put it out there and you will succeed. It’s basic economics.

It’s additionally too difficult to even consider standing out in this day and age by simply battling on quality. You need to stand apart to be seen, and that is hard enough all things considered. Debate is a simple method to make a splash, and offering what your opposition doesn’t is a simple method to begin that conversation during your research process.

Be unique, and better (in the event that you can), and put in mind that the client is the focus of any brand.

After effectively providing answers to these questions, (they may appear to be simple, yet I disclose to you they are not), you will have the option to recognize the key components as a business and have an expected profile of your target audience.

You are not sure about the most capable technique to use for your branding? Visit our site at www.tracemediltd.com to have a chat with one of our staff and we would be glad to put you through.