There are a lot of buzzwords that are used today in discussions about how to effectively position your company in the market. One of the most common is the term branding, followed closely by the need for a brand marketing strategy.
Breaking this down into simple terms, the brand is the image and the message you want your customers to remember about your company. It is definitely the identity of the company but is also a clear representation to your customers about who you are as a business and what your business does. This is becoming even more critical as Millennials are focused on doing businesses with companies with the same philosophies and social focus rather than the company with the cheapest prices.
A brand marketing strategy is a way to share that information with your target audience. It is a long term goal or objective that is made up of different steps, milestones, and mini-objectives that all work to move you from where your business is now to where you want it to be in the eyes of your consumer base.
There are several essential factors in developing a brand marketing strategy. A few considerations to get started include:
- The company purpose – what is it that your business wants to do or what is its vision, philosophy, and purpose? What is it that your company does that brings a benefit to customers, communities, or the world at large?
- What is your current brand and marketing strategy – some companies do not have a defined marketing strategy, while other companies have multiple ideas that may not be connected or coherent. Understanding where you are at, what is working, and what needs to change is essential work.
- Relationships – branding is also about building relationships with your customers. At this time, what does your business use to do this? Are you using social media, SMS contact, emails, or traditional mailers to stay connected and build relationships?
Answering these questions and getting a clear picture of the current status of marketing and branding for your Minneapolis business is the first step in developing a comprehensive marketing and branding strategy moving forward.
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