Having dealt with personal branding just a week ago, this episode will bring to light 5 Ideal steps to building a brand (BRND 102). It will provide a step by step and a proven approach to guide and direct whoever is willing and determined to build a successful brand. One key factor in branding is that, even if you are selling a product/service, the one selling is not separated from whatever she/he sells–You can’t simply alienate the seller from the product. For these strategic reasons, the following points are worthy of consideration in the process of building a brand.
Firstly, there is the need to identity strengths and weaknesses. This is at most the best opportunity to exploit if you are to break into any competitive field and succeed. Identifying your strengths and weaknesses helps you to know the methods to employ to improve upon yourself and also the areas that must be improved. In building a brand, it is very keen to know who you really are and be definitive as possible because unless you are inventing something, there certainly would exist prototypes of what ever service you are going to offer.
Also, know your product. Apart from identifying your industrial strengths and weaknesses, it now dons on you to label what ever product you are selling. By so doing, you get the exact description, value and worth of your product or service which would be presentable in the eyes of your clients or who ever may be in need of your service. If you know your product/service very well, you will know how exactly you can sell to even the ‘hardcore’ client with little of no bargains.
Thirdly, you must know who your competitors are.
This is the most important part and the very reason for which branding is a necessity. Whatever service you are offering, believe it or not, you are not going to operate in isolation. Even if you operate as a monopolist in your field, for how long would you continue to build a great wall to bar competitors? Knowing your competitors as well as their, customers and the products/service they offer will not only make you a spies but will also provide you with options to act either in accordance with or contrary to the principles and strategies your competitors are operating. This must be done to capitalize on both strengths and weaknesses of your competitors and to be able to situate your brand and to stay at par if not above your competitors.
In addition, you must “Dare” to be different. What is the essence of identifying your strengths and weaknesses, knowing your product/service and finally knowing your competitors if not for the quest to be different? The first 3 points will quickly reveal the features and characteristics of ‘ the seller (yourself)’ , the product and the environment in which one operates. The trio , well harnessed will be an incredible tool to penetrate a highly competitive market. At this stage , you are well versed with the basic information and the only tool available to employ is a tool to be different. Be different in appearance, human/customer relations and product delivery as well as other competitive advantages you may have identified during the process of identifying yourself, product and competitors.
Finally, embrace changing trends.
Throughout the history of man, change and progress are best explained as ubiquitous. Therefore a 21st century man that fails to see change and embrace it is better off living in the prehistoric era. Changes and alterations in the conventional principles of doing business are being spearheaded by technology which is changing virtually everything changeable and even at a pace faster than Michael Jackson changed the shape of his nose. There is the need to plan and prepare adequately to embrace the changes brought forth by technology and other agents of change so that in the event that type-writers become less relevant, you will comfortably migrate and adopt to the current trend.
To a very substantial extent, I believe these points will equip one with the necessary skills to be in business and also survive in a very competitive environment. There may be other subsidiary points such as knowing your ‘target market’ (buyers). However, I considered this point subsidiary to the aforementioned 5 because, in the process of knowing your competitors, you are more likely to come into contact with their buyers and you study them as well.
What’s next after building a brand for yourself? Sustainability! Your guess is as good as mine. Hopefully, I will come your way another time with the final episode which will emphasize on ‘How to sustain a brand’ (BRND 103)
Until then, you can leave a comment or provide suggestions right under this post.
THANKS FOR READING…