10 Questions to Ask Before Creating a Brand Marketing Strategy
Creating a marketing strategy for your business involves taking some of the most crucial decisions. A lot is at stake because a marketing strategy can make or break a business. After all, it acts as a deciding factor that directly impacts your sales. No wonder you should be highly immaculate and ask all the right questions while constructing a brand marketing strategy for your business.
So, how do you attract customers and compel them to buy your products, services, and brands? That is precisely where marketing strategy comes in. Once your marketing strategy is in place, only then you can initiate the processes to start working on getting the customers to pay their money for whatever you are selling.
Now that we are on the same page about the importance of marketing strategy and brand marketing strategy, the question is how exactly does one go about it?
How do you make a brand marketing strategy? What kind of research do you need? What areas do you look into and consider? Which process do you opt for to develop a strategy?
Go to any brand design agency and they will tell you, you ask these 10 questions.
Who Is the Customer?
This is the first and the most central question you should ask and research into. Who will be your customers and what market or market gap of people and audiences are you targeting?
This question determines the people you will be targeting in order to get them to give up their money for your offerings. If this question is not locked down concretely then you are likely to end up with a confused, mixed and wayward marketing strategy. Such strategies will be clueless about what audience they’re attempting to capture.
What Problem Are You Solving
Once you have narrowed down your target audience, next comes the logical question, how will they benefit from you?
What need, want, demand or problem of theirs do you fulfill and resolve? Unless you can answer this question, you don’t even have a business or brand concept. This is the entire base of your business. What product or service will you be offering to compel your audience to buy from you?
Who Are Your Competitors?
As they say, “Keep your friends close and enemies closer.” The first thing to do when tackling a game is scoping out the playing field and scouting up the other players and competition.
That is true for your business as well. This will give you a better idea of what kind of field you are playing on and will allow you to develop strategies on how to navigate it. There’s a lot you can learn from knowing your competitors.
Simply put, what is your competitive advantage? What is that special or distinctive something which gives you some sort of edge over your competition? Competition is all about competitive advantages, every competitor will have its own unique incentive to offer to the public.
Determine what is yours because this will give you clarity and focus. It will show you the path to stand out from the crowd and build a loyal customer base for your business.
What Will Be Your First Entry?
How do you plan on making that first impression or jump into the market? Even the best-designed products can bungle up their launches spectacularly if their first public showcasing and sampling is not well-planned or fail to get the audiences aboard. This can immediately derail all hype and momentum and cause significant costs in further marketing programs to build up the lost momentum.
Businesses can face two problems while marketing their brands. Either they under-market and cause the brand to land with a dull thud or they over-market so much that the demand becomes impossible to fulfill and production capacities are overburdened.
You would think the latter would be a good sign but, in reality, it only creates more discord and chaos while painting a bad picture for the business. So realize your production capacity to fulfill increased orders and market accordingly.
How Will You Handle Information Delivery?
One mistake which many new launching or launched products and services make is a discrepancy of information between their official marketing materials and their customer support. Ensure all departments of your business are aboard the launching of the brand. Information should be with every concerned department so that new inquiries by customers in the wake of marketing efforts are answered properly.
How Will You Incorporate Social Media?
Social media marketing is arguably the most important and significant part of marketing in today’s world so you cannot even fathom the possibility of skipping on it. You should conduct a detailed research utilizing the best digital design agency. They will identify the best social media platforms for you that would prove most effective.
Marketing Measurement Mechanisms?
Ask yourself what processes, operations, algorithms, and software packages do you have in store to keep track of the return on your marketing efforts. Marketing is of no use unless it brings in noticeable revenue thus you should have a method of tracking your expenditure and analyzing it with the sales and awareness it brings in dollar value. This will also show you which marketing areas and efforts are performing well and which need to be cut or revamped.
Lastly, brands and businesses today are all about corporate personalities. Customers are no longer content to deal with faceless corporations.
From your online social media handles to your brands, you should have a concrete idea about what your brand personality will be like. This ties in heavily with the nature of your product, its distinct features, and your target audience.
These are the most important questions that you should ask before developing the brand marketing strategy for your business. The answers to these questions will inform and build your strategy. If the answers are well researched then it means you will have a rock solid and razor sharp strategy on your hand while vague answers will lead you to a weak strategy that won’t do much help. If you find it a bit confusing to answer these questions yourself, you can always hire a digital design agency or brand design agency to help seek some clarity!