The moment you launch a new brand into the market is crucial for any Entrepreneurship.Making yourself, your brand and your company stand in front of your competitors to get space in the mind of the consumers isn’t an easy task, and new entrepreneurs tend to commit mistakes at the moment of launching their product/service to the world.
Therefore, in this article, we will show you 5 mistakes you probably don’t know you are making when preparing or executing your branding strategy. Let’s start then.
Is probably the most common mistake among entrepreneurs to focus only on the consumers, letting other factors of the market behind. This can become a major disadvantage in the short-mid time for your project. So thefirst thing to do is to understand that there are two main factors of the market that you can attack in order to launch your brand correctly.
The first and most know is the target audience, which you have to define well.
For example, imagine you are launching an app to make payments with your cellphone. Your target audience is obviously the users that you want to download and use the app, which is going to create incomes for you.But you have a second target in this scenario, the business owners who will have to receive the money somehow with your app.
That being said, any marketing and branding strategy you design has to consider both of them in order to work properly, if not, you can imagine thousands of people with money in your app and no place to spend it, or the other way around.
The second factor to consider and attack is the competition, following the same example, if you are thinking about launching your app in a city where there are already 5-10 apps well established, it is going to be harder to get yourself on top than if you start in a virgin market for your product.
If you don’t have a special feature to overgrow the competition, you can either pivot your project or change the starting location.
After you are well-established in another city, is easier to get people’s confidence and manage to top your brand in a full market. Now that you know this, let’s move on to the second mistake.
When designing your branding strategy, the first thing you need to know is how exactly you want people to see your brand or product.
For an example we have Coca-Cola which clearly has a family-focused brand, they sell the brand as “family moments” and focus on that target having a specific way to do their marketing strategies.
To know what your focus should be, askyourself a few questions:
What is your products niche or category?
Who exactly do you want to buy/use your product?
How can you put your products advantage or differentiation in 2-3 words?
By answering these 3 questions and keeping those answers clear and static you can have a better idea of where to focus your strategies and how to strengthen your brand.
This point is quite simple, you need to have something stronger than just a logo, and the use of other visuals will help establish your brand better. The most common secondary visual you will find in the market are pets, also some new brands can use famous people like bloggers and singers to leverage their recognition by their fans and followers.
Another mistake entrepreneur’s commit without noticing is trying to diversify their brand too soon, in order to intend your brand to be known in many markets, you will have to wait until it has a firm foundation. The best example out there for how to do this is Google, after years established as the #1 search engine in the market, they slowly started growing asides in related markets from 2010 to the day, leaving as result even stronger brand recognition in many branches of the technology market.
This is another common mistake but is also the most easily solved, some entrepreneurs forget that the brand is not just for selling but has to have a personality, and with that, comes a reputation. Watch out for the way people use, and see your brand.
The best tool to do this is free, and it’s called social media, using your social media you can get involved with your clients and offer post-selling attention to former customers. Also, you can receive complaints and be notified about any problem related to your product.
Now you know about these 5 branding mistakes you were probably making, you can work on a solution right away. If you need any advice, feel free to contact us. Or if you have any experience you could share please let us know in the comments below.
Share this article with your friends and have a successful branding!!