DEVELOPING A BRAND STRATEGY IN 3 STEPS

Every business needs a concrete brand strategy to truly understand its value, its purpose, and its role in the marketplace. Oftentimes businesses think they know who their audience is and their position, but are either too broad or miss the mark completely.
 
Let’s put your business on the right track to a solid brand strategy, beginning with segmentation.

1. SEGMENT YOUR AUDIENCE

Segmenting refers to identifying audience groups with meaningful differences. These groups need to be very specific to be usable in your marketing campaigns. It’s not enough to just say your audience is “women.” Are they working moms or stay-at-home wives? Are they in their early 20s or late 40s? You need to identify these differences because different audiences have different needs. That’s not to say that both the working mom and stay-at-home wife can’t be in your audience, but you should make a distinction between the two to deliver personalized marketing messages.
 
Audiences can be segmented geographically, which can be as broad as a country or specific as a neighborhood. You can also categorize audiences demographically, referring to age, gender, socio-economic status, and more. Segmenting audiences behaviorally and psychographically may be even more important. Behavior segmentation refers to their tendencies and behaviors, particularly when interacting with businesses. Some attributes can be bulk-purchasers, subscriber-oriented, or spontaneous purchasers. Psychographic segmentation refers to the lifestyles, attitudes, values, and hobbies of your audience. By understanding and segmenting your audience you better position your brand to target the right person with the right message.

2. target your audience

Now that you have segmented audiences, it’s important that you can deliver your brand’s value in targeted marketing messages. Research and understand what makes each segment attracted to your brand and communicate those points to your audience. 
 
For instance, if you were the CMO of Tesla and needed to market 1 car to different audiences, one audience may prioritize the safety mechanics, while another prioritizes speed and performance. A third segment may even focus on the eco-friendly aspect.
 
Understand the value that matters most to each segment and communicate that to them in their favorite marketing channels.

3. POSITION YOUR BRAND

Now you must take your understanding of what your company values are and what your customers view as your value to position your business in the marketplace. It’s important that you develop a competitive advantage that elevates you above the competition in the eyes of your audience.
 
Starbucks, for instance, may just be a coffee shop, but to its patron’s it is a secondary office, study room, and hangout lounge. Your goal is to create favorable consumer responses to inspire a positive brand image.

Conclusion

It may be 3 steps, but each step takes a considerable amount of planning, preparation, and readjustment. The biggest brands in the world took many years to develop their brand and are constantly reinventing their brand image. 
 
Using the 3 steps above you can now take these concepts and apply them to your brand. Happy marketing!

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