In the following series of point of view, The Marcom Avenue is going to break down in detail what is the baseline on which a brand is built. These are critical pointers that make or break any business while establishing themselves as a distinguished identity in the market. Brand is beyond the product utility.
We have tips and templates in these for any business to pursue. Give life to the abstract ideas of your brand. Any business can achieve much more from their existing business module. Brands have long term interactions with customers, a steady increase in sales revenue, customer advocacy, word of mouth referrals, and product development.
Step 1- Defined Audience For Brand
A target audience is the people who would buy the product from the brand because they will want to use it. As a brand, your mission and message need to fit their needs and interests, respectively.
A Sample Audience can test the product and give you their feedback. This is a step that comes after defining your target audience.
What a brand needs to do is get specific. Figure out each detail of the lifestyle, behavior pattern and influencers of the consumers.
DON’T fall back into the mindset of saying, “Whoever buys, I will target” or “I will target anyone who purchases my product.”
If you do have customers, identify the following factors about them-
Q1. Why do customers buy from you?
This question will narrow down the pointers that the customers admire about the product or the brand. It can be how marketing is done, the market value of the brand, specifics of the product or something else.
Q2. Which customers purchase the most?
This will tell you the demographics of the customer base.
Q3. What product or service is your best seller?
Which product is most consumed by the customer?
Q4. How does the product fit into the target customer’s lifestyle?
When does the customer require your product in their life? In which situation, the product will bring joy to them? What are the locations of product availability?
Q5. How & when will the customer use the product or service?
This is specific to the product use and conveying to the audience accurately.
Q6. What features are most attractive to your target audience?
This specifies the exact features that the target audience appreciates about the product.
Q7. What media does your target audience consumes information from?
What mediums do they use to consume information? This will define the marketing mediums most beneficial for the brand.
Specify the following factors about your target audience-
|AGE||GENDER||EDUCATION LEVEL||OCCUPATION||PERSONALITY & VALUES|
|LOCATION||INCOME LEVEL||MARITAL/ FAMILY STATUS||ETHNIC BACKGROUND||INTERESTS/ HOBBIES|
DO NOTE this tip. It is possible to have multiple personas in the consumer base. To perform the exercise to determine a narrowed down audience who would purchase the product. The brand messaging and marketing efforts will be made according to the niche.
As discussed above, the Sample Audience can now be selected. The sample audience is a small size of the target audience who exactly matches the target audience or is similar to it.
We discuss the next few steps of building a brand, in the next few blogs. Stay tuned.