Start strategizing your brand for success.
Welcome back, this is part 2 of a 3 part series if you didn’t catch the first part of this blog post you can click here. We are diving deep into your brand strategy to get focus, work less and make more.
I am talking about the one culprit that causes online business owners to work grueling hours but have dismal results. And that one thing is: not having a clearly defined strategy around your brand.
If you would rather watch this instead of reading, no problem- you’ll find the video in my Facebook Group!
Don’t worry… I got you covered. We are going to work our way through this. I want you to have this insane, unforgettable, profitable brand. A brand that attracts your perfect customer.
We are going to jump into the first two pillars of brand strategy and the last two in the third series. Let’s get going.
As I mentioned in my previous blog post, I interviewed top executives at Fortune 100 companies for over a year. I wanted to understand their strategy to stay relevant and profitable year over year. I took the information I learned and condescended it into what I now know are the 4 pillars of brand strategy.
There are four components that every brand has to have clearly defined to have long-term success.
Once you implement the four pillars into your brand- you will have a strategy for success. You will have a new focus, work less and see your productivity skyrocket.
Let’s get you to the next level of your brand.
The first Pillar of Brand Strategy: Market Trends
What are market trends?
Market trends are what’s going on in your market. It is the current conversation. New technology that’s emerging. It is your customers’ current challenges and desires.
Let me paint you a picture of Market Trends and how they impact a brand.
Let’s imagine you are a singer. You’ve been self-promoting yourself, singing at bars, singing at festivals. You have put a lot of work into your music career.
That work pays off. you receive your first record deal.
How exciting.
You’re pumped. You sign your record deal. Get into the studio. They tell you they’re going to be releasing your first album. And when I say album I mean a real vinyl album.
You’re first thought. This has got to be a joke!
But what if…
They had not transitioned their business to release music on digital albums? They didn’t stay above the curve.
Those dollar signs flashing in your head come to a dead halt. Who in the heck has a record player? Who is going to buy your album?
Staying up to date on how your market is trending is crucial in our fast-paced digital world. It ensures long-term success of your brand strategy.
You may be thinking… come on Jess, this is so basic.
But take Blockbuster for instance. If they would have stayed up to date on market trends and understood their consumers desired. If they would have transitioned to digital streaming. They would still be in business.
Are you transitioning your brand to meet market trends? Are you staying ahead of the curve?
Small business scenario. What if you have a Facebook Marketing course but you did not keep up with the new features and add them to your course? Your course becomes outdated and obsolete. This is keeping up with the market trends.
The benefits of researching your market for a full proof strategy for your brand.
Technology is awesome. It allows you and I to have online businesses. Every day new technology is emerging. Should you be adding a new technology to your business, technology that would benefit your customers? Benefit your long-term business success?
What if you have an online course and you see that the percentage of people finishing the course is less than 10%. How can you combat that? How can you increase the odds? Can you pivot your direction and do live pro-active workshops?
Or is it time to transition your online courses to a membership site?
This is huge. This is meeting the needs of your market.
Did you know that researching your market can save you time?
Another great aspect of following market trends. If you feel that you spend excessive time brainstorming content for blog post, videos, or social media content- market trends to the rescue.
Understanding the current conversation in your market gives you awesome content. Weighing in and providing a solution sets you up as an authority within your market. And the time you save with coming up with “ideas” is minimal. The market is telling you what they want to hear!
Research Market Trends to implement into your business strategy.
The first thing you have to do is what I call, “going to the source”. Going to your consumers and asking them what their current challenges are. What is the solution they are seeking?
Let’s say you help small business owners with marketing. You may find on your calls they need accountability when working with you.
It is always eye-opening to get on the phone with customers- they will tell you what you need to hear.
Asking them questions to help to better serve them is the goal.
Think long term for your brand, what makes sense. What can you implement into your current model to improve for your consumer?
The goal is to stay above the curve. To meet your customer’s needs and current desires.
The second step is researching your industry. This is always fun. Look for popular post on Facebook. Viral videos on YouTube in your industry. Blog articles that are trending. What is getting the most attraction? What is the current conversation?
What topics are hot right now that you can weigh in on? How can you assert yourself as an authority within your market?
How does understanding your market trends play into working less?
Doing a little upfront research will give you data on your market. You start to connect with your customers and their current challenges. By asking the right questions, you learn about their interest, behaviors and where they hang out online. Which in turn puts together your marketing strategy. It also guides you on what to post on Social Media understanding their interest.
You’ll know if you need to pivot your brand to meet the current needs. Looking at your market and talking to your consumers paints a great picture of what products or services you need to offer.
If you have seen a lack of sales, your brand strategy is holding you back.
You may not be fully meeting your consumer’s needs, therefore you see a lack in sales.
Taking the information you learn you can now update your website, social media, any content you are putting out. They will think you are reading their mind when they read your copy! This makes it an easy selling point.
Every major corporation is asking “how did we do” they want feedback on their products, services, customer experience, customer service. They want to improve.
You need to be doing the same thing!
Block off some time on your calendar over the next few weeks. Start talking to your customers and doing a little google “digging”. This is going to make a huge impact on your long-term business strategy.
The Second Pillar: Market Position (Strategically placing your brand)
Market positioning is the one area I receive the most resistance.
When I mention the word “niche” to a client, they look at me as if I slapped them across the face. I receive the same exact comment every single time, “If I make my market smaller, I will make less money.” Not true..
Let’s talk about how the riches are in the niches.
What exactly is a market niche?
Market niche is a small but profitable segment of a market. Market niches are areas within a larger market where there is a need or want that’s not being addressed by competitors.
How do you find your unique market position?
Looking at your market as a whole. The first way of identifying a niche is looking at your unique superpowers. What do you bring to your brand that sets you apart from the competition? I like to refer to them as your “unicorn” features.
For me, I am very hands on. One of the distinguishing characteristics of my online course is that I show up. I jump into the courses private Facebook Group and answer questions twice a week and do a mini-webinar. That sets me apart from others in my industry and that is a selling point.
Looking at your market as a whole. The first way of identifying a niche is looking at your unique superpowers. What do you bring to your brand that sets you apart from the competition? I like to refer to this as your “unicorn features.
For me, I am very hands on. One of the distinguishing characteristics of my online course is that I show up. I jump into the courses private Facebook Group and answer questions twice a week and do a mini-webinar. That sets me apart from others in my industry and that is a selling point.
What are your superpower traits that make you shine?
The second way is by looking at areas of your market that are less saturated with competition. This allows you to hone in on specific areas that need the solution.
How will a niche market save you time and money?
The riches are in the niches. Having a dedicated niche market is going to be awesome and the last thing it will do will make you less money.
This is how this will pan out.
You start to understand the challenges and needs of your specific niche.
Develop products or services that are the solution to these challenges.
You put together your targeted marketing strategy. Meaning you no longer randomly spending marketing dollars. You now know everything about your market and you hone in on them and speak directly to them.
Over time, you become the authority in that niche. Guess what? People start to seek you out. (Think about the people lining up outside of Apple when they have a new iPhone release… yes let’s all dream big!)
Take a couple of hours and write down your unique superpowers. Comment below and let me know your superpowers and your specific niche.
We have hit on the two pillars that will take your brand to the next level. Understanding these two components of your business gives you direction.
Once you start implementing the items you learn on your customer calls to your website, social media, and product descriptions. You will start to attract your ideal, perfect customer.
If you are imagining a work-life balance. Imagining working fewer hours. Imagining making more profits and higher ROI’s. You and I are on the same page. This is not some sort of “perfect life” scenario. You can have this. If you are ready to work with me to take your brand to the next level- enroll in Branding DeCoded today.
You are 15 days away from having the brand you’ve been dreaming about.
