The goal of every entrepreneur is to build a successful brand. But building a successful brand requires more than creating a quality product. While it also requires a certain degree of ubiquity, turning a brand into a household name isn’t something you do overnight. At the same time, without a successful marketing plan in place, even the best products can go by the wayside. With that said, how do you really build a brand?
Building a Brand is All About Execution
All good brands have one thing in common: they do the most important things well. When it comes down to being successful with anything, it’s all about the execution. Anyone can develop a potentially “perfect” plan, but if that plan lacks execution, all you have is potential. Before you even try to spread your brand into new and untapped markets, make sure you’ve got the execution down on your core market.
Building a brand also requires the successful execution of your marketing plan. In other words, are you targeting the right customers? Are you reaching them in the right areas? More importantly, are you appealing to the right needs? Nailing the execution of your ads means showcasing the unique product features that distinguish your brand. That means choosing the right media spaces and presenting a persuasive argument. Do you have what it takes?
Successful brands need to be able to adapt to the changing times. That means staying up on the newest technology-and utilizing it to further develop the brand. Be constantly looking for new and innovative ways to satisfy your customers needs and showcase how you can do so. People aren’t going to magically come walking in the door; you need to incentivize them to come in!
How Many Needs Does Your Product/Service Satisfy?
The single biggest driver behind buying behaviors is emotion. That means if you can appeal to your customers’ emotions, they’re more likely to be loyal to your brand. It’s also important to point out that customers are looking to develop relationships with the brands they buy from. One study from 2019 found 83% of customers care more about how brands treat them than the products they sell.
That means that even if your brand meets a utility-based need, if your customers’ emotional needs aren’t met, they’re likely to go elsewhere. Customers want a marketplace in which they feel safe and they want to do business with brands they trust. The four main customer needs are price, choice, quality, and convenience. Does your brand tick all four boxes?
If you can’t offer the lowest price, can you make up for it by offering more choices or a more convenient buying experience? Think about ways to provide a better experience with regards to those needs. What can you do better to make give your customers a better overall experience?
To Build a Brand, Make Connections
The bottom line is that in order to build a global brand, you have to make connections. You need to make genuine connections with your customers, suppliers, and even your competition. That’s not to say you need to collaborate with-or even befriend-your competitors, but you at least need to be aware of where you stand with regards to how your customers perceive you. Unsurprisingly, the most important connections are made with your customers.
Those connections, however, need to stretch well beyond providing a utility. Customers are looking for brands with whom they identify on a personal level. They care about things like political endorsements, giving back to charity, community involvement, and environmental conscientiousness. In other words, since people can buy the same thing just about anywhere, the impetus is on the brand convincing those people to buy.
To build a brand, you need to execute on all levels and provide the utmost product satisfaction. Keep your customers happy and satisfied on multiple levels and they’ll have more reasons to buy from you. Establish real connections with them and you’ll have a customer for life.