Each and every minute detail matters in the market place. And that one mistake can cost a lifespan of your brand. Times can be troublesome and complete failure. What should we do? How to build a sustaining brand?
Firstly, you should look into your market segment. Analyse the customer complaints, returns and your response towards it. Your brand’s relationship marketing, innovation and your marketing planning (SWOT, objectives, strategy, tactics, budget and control, selling and cross-selling) and lastly, the use of technology.
Yes, that’s a lot!
Let us start by questioning everything one by one:
Are you sufficiently market focused and customer driven?
Do you understand your target customers?
Have you defined your competitors? Do you monitor them?
Are you able to manage your relationships with your stakeholders?
Are you good at finding new opportunities?
Is your marketing planning process proper?
Are your product and service policies proper?
How are your brand-building and communication skills?
Are you organized in an effective and efficient way?
Opportunities come to those who wait. But if this wait is of years, stop. You need a better plan. In other words, a system, for stimulating the flow of new ideas of your brand. This flow should be passed on to different levels of management in a structured way. Moreover, define how will people take orders, work on it and finally report them to the superiors.
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There will always be competition inside the company, but not for the development of skills. Therefore, to overcome this, you should appoint a strong leader who can build such skills. Praising everyone by giving them monetary or non-monetary rewards will bring a sense of belonging. Hence, nurturing the idea of your brand.
Establish a basic standard format for your company’s marketing planning process. Certainly, this should include SWOT analysis, situational analysis, tactics, strategies, budget, major issues and objectives.
Ask yourself. How is the brand impacting others? This way, you can define your competitors as well. Consequently, a competitive intelligence will help you to keep an eye on your competitors.
Cultivate more customer consciousness to understand your customers. Some information may not be told to you by your customer for various reasons. In that case, you must do data mining. This will help you to decrease the waiting time and enhance the customer’s experience. Therefore, creating an impression for your brand.
Lastly, use internet more. A company using storytelling is more effective than others. Above all, analyze how are your stakeholders engaging with your brand. Is it through social media or some other medium/tools? As a result, through this exercise you can improve your brand-building and develop related strategies.