When you are trying to build your business from scratch, everything needs to build into the business foundation. One important key of the business foundation other than you selling your products or services is your brand, how you build up your brands, how you choose your target market and help to build and develop your business.
Many people haven’t realized that the most important thing in business is to develop your brands and know what target market you have chattered and deliver your products or service. This way, not only it would be very important for starting your business, but expanding your business would be much easier once you have a good reputation and brand.
What Are Brands, And What Are Considered Good Brands?
More or less, brands are what define your products, how good a reputation it is within the market, and how customers perceive your products. If customers see your products as something good and offer something different and unique from any other brands out there in the market, then it would be quite something and would be quite a good brand.
Many businesses can have good brands in many ways, for example, to have interesting, and eye-catching marketing strategies, to have very good products that charter to everyone’s needs, or basically by having good quality customer services, Either way, good brands are defined by three things, the popularity of its brands, scalability of the brands, and how long the brands stay relevant in the future.
Brands aren’t just the name or reputation of your products or service. Brands are also can be considered as the customer views of your products and service, how they can scale with different markets, and how well they charter to the needs and markets of a different place. Of course, good brands are the foundation of the business, the bigger the brand, the stronger the business, and it can often be seen as a lifeline of the business.
However, there are also certain cases that one popular big brands are successful in one region only, and when they try to expand its market to a different region, it somehow flops and weren’t as successful as it did in its original region. There are many reasons for these, for example, that they didn’t successfully adapt to the new market, the wrong marketing strategy, or the different competitor.
One good example of it is McDonald, the very famous brand of fast food chain from the U.S. that has been dominating the world of fast food and burger chain since the 2000s, however, did you know that McDonald’s is considered unsuccessful by a certain degree failed to launch in Vietnam? They currently only have less than 30 outlets in Vietnam and less customer revenue.
This is due to the competitor of pricing, and the culture of street food in Vietnam, where people choose to spend more on street food, rather than buying fast food from McDonald’s because street foods are already more filling, and arguably cheaper. This is certain cases where big brands could flop when the marketing strategy isn’t correctly applicated, or with certain cases of unique demographics.
How To Create A Good Brand Image In The Market?
When building your business, one of the most important foundations is to make sure that you have built a good brand image, which will make your customer think “This is a good brand” and would think “I would like to buy from this brand again”. There are many ways you can achieve this, either by increasing your products or service quality, good customer service, good marketing, or by analyzing the market and competitors.
Here, we are going to tell you a few tips and tricks on how you can expand your brand, and how to develop your brand to make yourself a good business reputation. There are of course few tricks on marketing strategies that you can try, and we will get into that later.
- Define your brand
Define your brand, what is your brand about, how people should know your brand, and what kind of brand and products you are offering for the market. Your brands ideally need to offer something new in that market or at least have some competitive quality when compared with other similar brands, make your brand memorable, and simple, but also easily recognized by people.
- Develop a consistent visual brand identity
Logo and visual brand identity are important. Having simple, yet memorable logos would make your brand’s popularity goes well, and people would remember well about your brand. This is also the same case as having an easy and memorable name for your brands and therefore would make your target market easier time to remember your brand.
Use a combination of colors, and shapes, for example, the psychology of colors red and orange are good combinations for the food business, have you seen a few of the giants in foods, such as fast food industries like McDonald, or KFC? How about their logo? As for another kind of business, the color white and black is neutral color for the logo.
- Conduct market research, as well as know your competitors
This is probably one important thing that many businesses sometimes underestimate, conducting market research thoroughly. When conducting market research, there are a few things you should consider, first, the SWOT factors of the business (Strengths, Weaknesses, Opportunities, and Threats), and the second one is scalability, potential, and future-proof of your business.
You need to better understand your competitors, how they are offering their products, what are the strengths and weaknesses of their products or services, how can you improve on their products, and what kind of new products that seems they lack. From there, you can then expand on your market, and try to get into the market.
- Establish a strong online presence, the stronger the better
This is a key component of the current digital market, the online market is very lucrative, and with huge potential with many ideas, opportunities, and many more things you can do online. Maximize your online presence such as with media social, social outreach, and customer service that can be done with your online support.
- Customer support should be prioritized whenever you can
Customer support would need to be prioritized whenever you can, as the phrase “Customer is King” is kind of true, especially if you are still a relatively new business, and your brand name is still kind of fragile. The more satisfied your customer is, the better your presence and the brand name, and therefore they will passively bring out more customers whether you know it or not.
- Build a relationship, not just with the customer, but also with partners and influencers
Building good relationships with the customer is a must, and it is standard operation for nearly every business, especially with the service business. However, many people also don’t realize that building a relationship with the business partner and influencers would also be quite lucrative, as such many businesses should always try to look up for business, and chances for collaboration.
- Provide consistent product quality
Product quality consistency is very important, especially if your business is a product type of business. Customer prefers consistent product that are slowly getting better, compared with a good quality product but deliver it very inconsistently.
Marketing Strategies That Might Make Your Business Boom
Here are a few tricks that you can try to make your business booming, however, these specific tricks might or might not work on your general strategies, as these tricks would need you to do something specific. These tricks are:
- Try to catch trends on media social
Media social is a very powerful tool, indeed if your brand becomes quite well-known in social media, it would, in turn, become a profit, and your brand popularity will go up exponentially. It would also make your profit goes up. You would need to catch on to the trend of media social and be aware of ongoing trends as always.
- Use marketing tricks
There are many marketing tricks you can find, for example, a lot of social outreach with social media and customer care, trying to record anything interesting in your business then posting it on your social media, and so on. This would make for a bit of social outreach, and increases your brand’s popularity, hence in turn would get you more brand awareness.
- Pour more investment into marketing
A lot of experts has been knowing that the secret to having good brands is a good investment in marketing. Pouring more advertisements, using marketing tricks, and many more, experts also believed that at least businesses should pour more than 70% of their investment into marketing, and the rest can be poured into development. This is of course excluding employees’ pay and bills.
Overall, when building a good brand name, there are many things you need to consider, first you need to pour up a lot of investment in marketing, and customer outreach, and strive to get the best customer care service. Second, consistent product is better than good quality products but inconsistent. Next, online media social is a very powerful tool, as such, there is boundless potential for them to be used for business.