4 Step Formula To Establish Your Business As A Brand
Products are no more just products, right?
Apple’s iPhone is more than a mobile. Burger King is more than a burger. Starbucks is more than a coffee. Isn’t so?
Have you noticed one thing when you use these products? These products create experiences and people buy them to enjoy the outcome.
So basically, the companies selling these products know exactly what experience customers would consider/prefer when they buy one of their products.
That’s when a brand is born.
From their social media content, to the colour palate on their theme, to the materials used in packaging, companies who create strong brands know that branding is the essential element for long term success.
These brands are popular, loved & are preferred by many people. Simply put, you are able to spread your brand’s core message to your target audience. If your product/service gives them a desired outcome, it equates to a higher ROI.
Now your question at this point would be: What’s the best & proven approach to build a brand from scratch?
Curious to know??
Before that, let’s see what exactly is Branding.
Branding is a term vaguely used in the business world. Branding isn’t just about producing content for social media platforms & having a presence. Branding isn’t just about producing creatives for social media platforms. It requires consistent effort & should produce ROI or at least recover the money spent on branding activities i.e to reach at a Breakeven Point.
It isn’t just about content creation, but also distributing content pieces strategically on different channels & measuring the results.
Not distributing content (developed for branding activities) on different platforms results in wastage of time, money & resources. The money spent on branding activities should be recovered (at least 50% of it), else there would be lack of budgets for future marketing activities.
The time frame (anywhere from 6 to 24 months) is needed to succeed or at least survive in the market.
Survival = Recovering at least 50% of the money invested in branding activities.
Let’s explore the exact 4 step process to help you build a brand & at least break even from your branding activities.
Branding isn’t the amount of money spent on ads; it’s the quality of relationships you build. It’s the overall experience you create for your target audiences.
Strong branding increases your business’s value.
So, here’s the 4 step process that will help you build an unshakable brand.
Step 1: Reach
Reaching your target audience on relevant platforms is the objective of this step. Here, your KPI(Key Performance Indicator) is to reach the prospective audience or assumed set of audiences.
Why to reach them? In other words, what’s your KRA (Key Result Areas)?
For your business, the KRA is to collect the contact information of your prospective audience as well as their cookies.
How to reach them?
You can reach your audience on demand generation & demand fulfilment platforms.
In Demand fulfilment platforms like Google search, you can reach the target audiences. Also, you can create SEO based blogs through which you can collect cookies & cold leads through either lead magnet or tripwire.
Demand generation platforms are the social media platforms like Facebook, LinkedIn, Twitter which can be used for reaching target audiences through lead magnets. In this way also you can collect cookies and target audiences contact information and later retarget them.
In both demand generation and fulfilment platforms, push your best content & make them aware about your brand & engage.
Step 2: Register
This step involves communicating to your prospects the core values of your brand. Develop core content which communicates core value & show it to your fresh audience (ex: those who have visited your website in the past 20 days). This can be done by retargeting the website visitors on Facebook, Linkedin, Instagram, Email Marketing etc or setting up autoresponders.
For instance, here you can use a 15 day strategy. This is a brand registering activity wherein you have to segregate your target audience who have visited in the last 15 days and send them your Core Content in different social media platforms through various brand communication channels like blogs, webinars, workshops, videos, infographics etc. After 15 days, choose another set of audiences and share them with the same core content.
This is an automated process of creating brand awareness to your audiences wherein your brand is imprinted in customer minds.
Step 3: Recall
This step involves showing fresh, engaging content to the Cold audience in your CRM to convert them to loyal Fans. The goal is to keep your brand at the top of their minds & warming them up for the purchase. The number & frequency of touch points with them at this point has now increased & they are more likely to buy. Again, it’s 90% value creation and 10% selling.
Step 4: Regain – Offer them a Tripwire (Irresistible Offers)
This step involves offering your lead/prospect something of incredible value but is easy on the pocket i.e low-ticket items such as paid webinars, paid trial (1$ trials), etc. There’s nothing more valuable than a list of paid customers.
With the above proven 4 step process of branding, let’s see below the most ideal KPIs and KRAs you achieve from each of these steps in order to achieve the ultimate branding success.
|Reach||Reaching researched client profiles, lookalike of previous website visitors||Collect data (leads & cookies) through lead magnet/tripwire for conversion||Google search, Google display, Facebook, LinkedIn, Instagram, Quora etc|
|Register||Reach out to last 15-20 days leads & cookies and show them the core content (Fresh audience + Same core content.||1-5% sales conversion on Tripwires||Email Marketing, SMS marketing, Whatsapp marketing and Retargeting|
|Recall||Entire audience or list should be subjected to fresh thought leadership content.||10-30% sales conversion on Tripwire||Email Marketing, SMS marketing, Whatsapp marketing and Retargeting|
|Sales/Tripwire||Sell tripwire directly to the entire list||10% sales conversion||Email Marketing, SMS marketing, Whatsapp marketing and Retargeting|
When you follow exactly as mentioned in the above table, your brand’s message will be rightly & effectively heard by your target audiences.
Let your brand speak with a clear, consistent tone that stamps your core purpose in the customer minds.
Understand the psychology of your target customers & a successful brand name is sure to follow.
Are you stuck in your branding activities and unsure on how to connect and resonate with your target audience? We at Digitechniks have a proven track record of creating higher brand values for our clients over the years.
Need help in your branding journey?
Request a callback.
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