Deciding what exactly you are planning on branding is probably one of the most difficult tasks in branding. In addition to the decision about what it is you’re going to brand (whether being a product, a unique service, a company, or an individual person), you have to establish if this is the only sole brand you are developing or if it will fall under a full list of likewise brands in your organization/company.
Before formally establishing your brand, be clear about what it is you are branding, aka do your research. Nothing’s worse than developing a brand you are passionate about without analyzing what exactly it is that you’re offering to the market it is competing in. Picture yourself networking to a group of well-established individuals, sharing the synopsis of your brand and not knowing the answers to the questions of those interested. Talk about embarrassing.
First thing’s first, find out everything there is to know about your target market. Start off by researching prospective consumers, meaning who it is you are wanting to aim your product or service towards. Find out who they are, where they are, and what motivates them to make buying decisions. After researching your target audience, next analyze your potential competition. Find what brand solutions they already have established, then find exactly what different aspects your brand is offering to the market and how it is better than your competitors’. The biggest questions you will be asked about your brand is, “What is it that makes your brand offering unique?” What attributes make your brand excel above and beyond over the other competing brand alternatives? How will your brand give the solutions that your target consumers needs?
No one likes a copycat. Try to avoid fading away into the “me-too” brand. Bill Chiaravalle, co-author of Branding for Dummies 2nd Edition, describes the me-too brand as the brand that offers exactly what another brand offers with no distinctive attributes other than the fact that it is presented by a different marketer.
After all that research, you’d think you already know enough right? Wrong. Now you will need to research your product/service, and find out everything there is to know about such. In this case, as well as almost every other case, Google is your best friend. Used that easily accessible search engine to your advantage, takes plenty of notes, and learn everything there is to know about what you’re offering to your target market.
Commencing all your hard work and research, you will be ready to establish a market position for your brand product/service. This is where it all gets juicy…
Stay tuned for next week’s blog post. Thanks for reading, Future Conquerors!