Never before was building a brand for your product or service as important as it is today. Millennials are not too keen on faceless corporations; they feel that whatever they do should have an impact on the world and, thus, when they decide to spend their money on something, it should be meaningful. When building a brand, you are essentially telling them a story and, depending on how and what your story tells, millennials will either side with you or shoot you down.
And with millennials now being the largest generation in the workforce, you definitely want them to side with you because if they don’t, well, who’s going to buy your product/service? It is, therefore, essential that the story your company tells is one that is carefully crafted to meet millennials’ needs.
Many entrepreneurs decide to build their brand solely based on what they believe is trending at the moment, but this is simply not effective as your success, or failure, has everything to do with your product and its target group. These need to be carefully studied so that the brand is tailored to suit them both and, thus, have the greatest possible impact on the market.
1. Identify Your Target Market
The first thing you should do when you set out to sell a new product or service is to decide who you are selling it to. While we’d all ideally like to sell to everyone, it’s just not possible. Marketing would be a nightmare if it were.
Focus on a specific target group; who this group is will depend on your product and the needs you expect it to cover.
After you’ve identified your target market, make sure you find out everything you can about this group. Even if you think you know everything there is to know, do some more research: you can always pick up a couple of new things and this will definitely make your marketing strategy much more effective.
2. Define Your Brand as a Person
The key to creating a powerful brand is realizing that your brand is so much more than just a logo or a name. In order to successfully build your brand, you need to personify it; think of it as a person with his or her own story to tell. Consider all aspects of this imaginary person (gender, tastes, dislikes, etc.) and make sure you have a holistic view of what your brand would be like as a person.
It’s only when you manage to picture your brand as a person that you will be able to establish its presence. This is an important step as it will define the impact your brand will have on the market.
3. Social Media
After you’ve established who your target market is and you’ve identified the story you want to create, the obvious next step is to make use of social media.
You need to establish your presence in as many platforms as possible, but this should be done in such a way that your brand is similarly portrayed across platforms. You can’t be funny on Twitter and serious on Facebook, for example; you need your brand to be consistent across all platforms. This will create a community around your brand, and this following will help you succeed.
The only way to be successful in today’s competitive market is by being unique. This is why it’s important to create a brand that will make an impact on the world. The more your brand is concerned with issues the world is dealing with today, the more your following will grow.
How have you built your brand without spending a dime? Share your tips and tricks with us in the comments section below!