Have an important meeting the next day and you need to “Xerox” some important documents? But, wait. You have to photocopy something, not “Xerox” it. Today the name “Xerox” is being used synonymously with photocopying. That’s how effective brand strategies can position you in the market.
Make your business a brand. Stand out by creating effective brand strategies that work as both customer acquisition and retention techniques.
What are brand strategies?
Simply put, brand strategies help define how a customer perceives you. Having an effective brand strategy also helps improve your positioning in the market. If you become the go-to-person in your sector, chances are, your customers will come looking for you. Once you gain this upper-hand in the market, you not only eliminate competition but also create a loyal customer base assuring your success.
Brand strategies are key to also building brand recall and customer loyalty. This can be done by gauging your priorities, mission, values, and goals. Additionally, you must also do a thorough market research to understand how your customers perceive you. Once done, you can evaluate if there is an alignment between what you want to convey and what they are understanding.
4 brand strategies for your business:
What’s special about you?
Having a well-defined brand strategy includes having a unique selling proposition (USP) for your company. To understand what’s your USP, you need to define how you are different from your competitors. Most importantly, what is the problem you are solving and how are you solving it differently.
Build a USP which aims at building a connection and resonates with your customers. Be sure, your USP also aligns with your company goals and targets. Once you identify your USP, ensure all your marketing and brand strategies lean towards pushing your USP.
Make your customers your brand ambassadors!
What’s better than making your customers a walking testimony about you? A prerequisite for this is to ensure your customers are happy with your product and services. Happy customers, often leave behind positive reviews which encourage other customers to deal with you.
This type of consumer behavior can be attributed to a concept called “Social Proof”. This means a large number of customers are encouraged to simply view, engage or transact with a website just because everyone else is. This serves as an ideal recipe for success which helps in both customer acquisition and retention.
Develop a healthy risk appetite
Based on your target audience, create products, product descriptions, and content which appeal to them. If you tend to a group of youngsters, you would want to showcase quirky and fun products as compared to a corporate audience. This would help you, not only create a niche customer base, but also a loyal customer base.
As a best practice, ensure you have a well-defined target audience and other variables such as age, gender, festive occasions and more before you create or curate content and products for them.
Personalize the product experience
It is essential to provide the best user experience in terms of your product quality, design, customer support, packing, and shipping.
While adding personalized notes, thank you cards or even sample products of new launches, is an ideal way of attracting repeat customers. This could be slightly expensive but think of it as an investment. This can ensure a soft corner in customers’ hearts. Personalization always shows you care. What better way to gain your customer’s loyalty and attention, than this?
Here, are some interesting examples of effective brand strategies you can employ.