Finding the right market audience to launch your brand into success
There is an old saying that you are what you attract. Well, this is very true when it comes to branding your company. When you invest money into branding your company properly, you can be sure to attract the right market audience.
By the “right market audience”, we mean the customers who will convert with you not just once, but continuously over time. They will re-invest in your product because your brand aligns with them on a personal level. But this only occurs when you properly brand your company and take the time to build out your brand’s persona.
But how do you build your brand’s persona? Rockcontent.com defines a brand persona as “the personification of your company: its goals, how it wants to present itself to customers, and what it can offer.” For online brands, this will be crucial since it can make or break their online presence.
According to our Beauty Branding Lab experts, it is important to solidify your company goals from the onset. From there, you can work backwards on how to accomplish those goals. While mapping out your company’s journey to success, you can also detail what your brand offers. Why is your company different from its competitors? Look for features that make your company unique. These features will be key players when it comes time to sell.
Alongside these key differential features, you also want to conceptualize your ideal target audience. Being mindful of your intended audience’s demographics will be extremely important for messaging. You want to ensure your advertising efforts are successful and you cannot do so without having an idea of who the end consumer will be.
Once your brand finds its authentic self, you can attract the like. When you attract an authentic audience, you are in the perfect position to receive a return on investment over the long haul. These customers will continuously return to your brand because it resonates with them, excites them, inspires them, and satisfies them.
But this continuous growth does not come without a sizable investment. We do not suggest sinching on the marketing budget, as the long-term marketing strategy will be critical when it comes to long term revenue growth. Short term marketing strategies are not sustainable for driving above-average profitable growth.
We feel that your brand is your most valuable asset and as such, it must be invested in wisely. When investing in branding alongside long term marketing, you are ensuring your brand has the power and the premium to raise pricing down the road to maintain its profitable grow.
While short term marketing initiatives drive immediate, sudden increases in ROI, they do not maintain over long periods of time such as six months or longer. Long term marketing strategies tend to gain a stronger momentum and take on a cumulative power. Ignite claims that “optimal effectiveness is achieved when about 60% of a company’s marketing budget is devoted to brand building, and around 40% to marketing activation”.
Power and premium are biproducts of a strong, copious marketing and branding budget. While you may be hesitant to invest such a large portion of your budget into marketing and branding efforts, the long-term effects are evident for every company who portioned their marketing budget accordingly over long periods of time. Every notable brand did not gain a cult like following without a dynamic, notable brand persona. At the end of the day, there is invaluable value in investing in branding.