Brand Development Strategy Simplified
Even though brand development is not a new concept, many business owners still do not completely understand the concept or its importance. Similarly, it is a myth that brand development initiatives need to be multi-million dollar campaigns to be successful.
Understanding the basic principles of brand development can give you perspective on your own current brand and marketing plans. Here are three key elements to any branding strategy:
1. Who are you?
The first step in developing a brand is to clearly define what your brand is and what you want it to stand for. How will any marketing tactics communicate the value of your brand if you, yourself do not have a solid understand of your brand?
2. Who needs to know?
This is just another way of saying “Who is your target market?”– and “everyone” is not a valid answer. To determine who is your target market, first write down every relevant element of your ideal customer’s persona: age, gender, location, education level, relationship status, ethnicity, interests, etc (it is just fine to have more than one ideal customer persona).
Knowing your different customer personas will help you to craft the message that you are trying to communicate to them, and to highlight the relevant aspects of your product or service that will be valuable to them.
3. Why should they care?
Now that you know exactly who you are, and who your ideal customer is, its time to figure out why that customer should care.
4. Social Connections
If you are deciding whether or not to advertise on Facebook, don’t forget to factor in the platform’s social component. The ads you run on Facebook will be seen not only by the audience your are specifically targeting, but also by their social connections as well. This effect is embedded in the social nature of the site in and of itself. For marketers, this means that these residual organic connections lower the average cost of acquisition per user.
To Sum It Up
Facebook advertising is not a platform that works for every company or product. This is why it is very important to know how and why you are using the platform from the outset. For example, a direct response ad campaign to an ecommerce site would not be a good fit for Facebook (people are on Facebook to be social, not to shop). On the other hand, a branding campaign works perfectly for Facebook.