Research and insight — get to know the brand environment
Before you buy a computer, you go on a reconnaissance mission. First you think about what you need. Then you start to follow the offers, get an idea of the models available on the market, check if they have the parameters you care about, and finally — what prices their manufacturers offer. This is research.
At the early stage of starting a business, this process looks similar. Building a brand requires information. Research provides context and allows you to find yourself in the market space. It provides data on both your potential position in the industry and your competition.
And what are the desires, lifestyle and needs that prompt the consumer to buy - this is the insight. Thanks to the knowledge accumulated in this way, you acquire an informed point of view, which makes it easier to make decisions later, and the marketing and business strategy is easier to optimize.
How to conduct market analysis? You can hire a consulting company for this or... launch a Google search engine. The internet and social media provide access to unimaginable data resources today.
Your philosophy of existence — think about who you are
Turning your eyes inward and honestly settling with yourself is just as important as recognizing the market. Your brand is more than your company logo, the products and services you offer. It is a living organism that has its own identity, character and voice (I wrote more about the identity and voice of the brand in the articles “Loves, does not love? Why do you need brand personality?” and “Children and fish have no voice”. What about your company?”
Have you ever wondered why you do what you do? What, apart from financial profit, guided the founding of the company? Where are you going? What would you like to accomplish?
The answers to these questions (in the context of the research and insight you already have) will be the basis for the vision and mission of your company, determination of value and finally — position in the market.
Consumer research — know your customer
A brand is something that the customer intuitively feels when thinking about a product, service or company. To know what it will be, and even better — to control it and create emotions, you must first get to know it well. This will allow you to create an almost tailor-made product. Do not try to reach the widest possible audience and do not create a universal brand. One of the most important principles of marketing reminds us that building a brand for everyone is really for no one. And your ideal client wants you to be right for him.
At the initial stage of brand building, it is important to start by defining the boundaries of a given target group and then gradually narrow the circle.
Sample questions that are worth asking to know the ideal customer revolve around 5 pillars. These are:
- Habits — What do you do? What kind of lifestyle does he have? Where can you find it in your free time? What are his hobbies? What media does he use?
- Attitudes — How do you feel about your industry, products and competitors? Where did this attitude come from? Does he have any previous experience?
- Motivation — What are the needs? What values does he value? What is he guided by in life, what are his goals? What drives him towards your company?
- Influence — Who do you trust? What are the criteria for his decisions? Where does he look for information to confirm the promises you make?
- Pain Points — What Are His Fears? What are his biggest frustrations? What are the challenges and obstacles that arise on the way from the first contact with your company, through the purchase, to the use of the product?
Competitive Analysis — Watch and Learn
Knowing what (and how) your competition is doing saves you time and money. And this is not about duplicating patterns, but about defining your place in the industry to be able to properly Build a company and be competitive. This context is crucial — no brand has yet been created in a vacuum.
A pleasant side effect of analyzing competitors is learning from other people's mistakes. By closely observing the competition (how they position themselves, what advertising impresses consumers, what financial condition they are in, what market share they have...), you gain space to make better decisions and you will not be surprised.
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Many business owners skip this critical step of brand discovery and take shortcuts by jumping right into a glamorous ad. “Give me six hours to cut down a tree, and I'll spend the first four hours sharpening an ax.” — Abraham Lincoln Before you launch your brand into the open, treat it to a decent job from the ground up, and it will reward you with a strong market position and a loyal customer base.
If you are interested in brand building, you can find more about the Brand Reveal process here.
