With the proliferation of online marketing and social media within the business landscape, many older companies are finding it difficult to cement themselves as relevant competitors within this new digital climate. That’s why we have decided to offer a helping hand, discussing what we consider to be the three key principles of brand re-invigoration.
Know Your Business
The Burger King branding strategy may be hugely successful in the world of convenient meals, but the same tact may not prove so lucrative within the world of digital marketing. This is why understanding your industry is so important; it allows you a direction to follow, carving out your place in a field that has a history of successes and failures for you to research.
There is an abundance of ways to go about this, whether traversing large data sets or simply delving into your competitor’s services. However, for a source of targeted information that can be consistently updated on a regular basis; managed web scraping is an excellent option to consider.
Giving you an insight into the metrics and analytics of competitors in your industry, Data Extraction (or data mining, depending on your preference of terminology) allows you to stay on the cutting edge of market trends and customer expectations. This is especially useful for digital businesses as, due to the volatile and ever-changing nature of the online world and consumer expectations, advice and past experience can quickly lose their relevancy as viable sources of information.
Designating Your Demographic
Just as important to successful branding as knowing yourself, understanding the needs of your target audience is paramount when building your strategies. One of the biggest mistakes that marketing agencies can make is assuming that all people will react similarly to a campaign. In reality, however, it is incredibly easy to miss the mark on your branding and advertising, simply because you misidentified who your audience are, or what their expectations are.
This can be remedied in a number of ways, the majority of which revolve around researching customer behaviour. This can either be achieved directly, through user engagement tools such as survey monkey, or indirectly through more regimented digital management tools. Whatever your strategy for gaining insights into your audience, ensuring that you don’t lose track of those you are attempting to market to is integral to your businesses potential success.
Be Aware of Your Voice
While it’s easy to believe that branding stops at your marketing campaigns, having an inconsistent voice can be the deciding factor when it comes to audience interactions. We are currently in a time of enormous connectivity, as social media forces open the doors between companies and their audiences. This means that there are many more things to consider when deciding upon your brand voice and tone than simply the style of your logo.
To give a more anecdotal explanation; A business that prides itself on its dignified approach to marketing, whilst also maintaining a Twitter or Facebook account full of colloquial language and profanity, is quickly going to confuse its potential customers.
This can also occur if businesses are simply trying to reach too broad an audience, as it can be difficult for consumers to determine a specific presence or personality when interacting with a brand. As discussed in regard to finding your target demographic, understanding the expectations of your clientele is a huge part of successful brand revitalisation.
With all of this in mind, many of the issues faced by businesses hoping to reinvigorate their brand come down to miscommunication with their target audience. However, for those that are willing to put in the time for research, there are a wealth of benefits. Good luck!
For more information on developing your business, explore Industry Compete today