Starting out as a small business owner, brand development is everything. Your brand needs to stand out among the competition and be visible to your target audience.
Running a business and growing a brand isn’t easy. If you want to know more about creating your brand development strategy, keep reading.
1. Define Your Brand
Your first step is to define your brand. What items or services does your brand offer and what is your brand personality? Your brand is your reputation and visibility in the marketplace and its relevancy to the target client audience.
You need to understand your brand to its very core. This is when you define your brand’s:
- Purpose: Why was your product or service created?
- Mission: What is the goal of the brand?
- Vision: What is the future of the brand?
- Values: What principles does the brand follow?
2. Research Competitors
Knowing who your competitors are is key to understanding your business’s position in the industry. This is when the SWOT analysis comes into play:
- Strengths: What do you have that your competitors don’t?
- Weaknesses: What advantages do your competitors have?
- Opportunities: Is there anything in the industry that your brand can leverage? Is the competition missing any of these opportunities?
- Threats: What is the competition doing that could hurt your business?
3. Know Your Audience
Everybody won’t be your target client. In a study conducted by Wunderman, 79% of consumers said that the brand has to demonstrate that they understand and care about their audience before consumers consider making a purchase. With all of the competition in the marketplace, this requires brands to understand their audience on a deeper level and make that connection.
Once you know what your target audience’s wants, needs, and expectations, it’s time to spread brand awareness. Focus on getting your brand’s message in front of that specific audience.
4. Spread Brand Awareness
This step involves creating style guidelines, a content marketing strategy, a logo and tagline, and a website. This article is a great example of little, personal touches that you can add to market your brand.
Brands that have excelled in content marketing receive 7.8 times more site traffic than non-leaders. Forming a strategy for brand awareness is vital for growth and success.
Once you have these in place, this is when you will be implementing your brand’s marketing strategy. Promote your brand through:
- Email newsletters
- Social media posts
Use SEO strategies or organic traffic growth using keyword research and placement throughout your content. Paid advertising is another option through targeted ads and pay-per-click marketing.
5. Track Brand Growth
Track your brand’s progress to see what is working and what needs adjusting. Monitor the traffic that is coming to your website and how people are getting there.
Are people sharing your posts and content on social media? How many leads were generated? What were your ecommerce store sales? If there is minimal growth and something’s not working, change it.
Follow These Brand Development Strategies
You need to be your brand’s greatest advocate and forming a strategy is the first step towards brand development and growth. Once your target audience recognizes and supports your brand, it will be your biggest advantage.
For more about the entrepreneur life and how to successfully market your brand, check out other articles on my website. Visit the Marketing section of the Everything Entrepreneur Blog to learn more about building brand development for your business.