The Who, Where, What, When, and How of Building a Brand

So, you have decided to start your own on-line company; good for you! One of the first steps you will need to consider is determining what types of goods or services your new company will provide. Since there are infinitesimal varieties of products and services you could potentially offer customers, it makes sense to narrow down your parameters.

Choosing the “Who”-Your Target Audience and Competition

The “who” is your targeted audience and they must be clearly defined. Any goods or services you wish to market must be relevant to your targeted audience. You will first need to focus and define that audience.

Who would you like to target as a potential market for your goods or services?

Is there a particular group such as hobbyists that seems appealing? Are you an expert on a particular subject that could be marketable to a suitable customer base? Depending upon potential product and services, your targeted audience could be anyone from anywhere.

Ask yourself if you want to target your brand to other businesses, to private consumers or both? What age group, sex, race, etc. would be more inclined to use a proposed product brand?  The choice for picking a target audience is as large as the imagination, but an essential first step.

Pick a “who” and then perform a careful detailed market analysis to narrow down your target by interest, demographics and common trends.  Determine if current market conditions are favorable for a particular brand of goods and services to this audience.Find out what barriers might hinder your new brand’s success and what things might be done to overcome those barriers.

Determine your competition

Besides your targeted market, the “who” also includes anyone competing for that target audience’s loyalty and trust. After picking your target market, determine who the greatest competition for that target market will likely be. The more you understand your target market’s needs and concerns, and those of your business competition, the more effective your brand will be.

“Where”–Locate Your Target Market; Remember the world is your marketplace.

After picking a targeted audience, you’ll need to ask “where” your targeted audience is located. Your audience could be located on-line only, real world customers or both. They might be located locally, regionally, nationally, or internationally. You will need to understand the best way to reach every customer no matter their location.

This information is important because different marketing strategies will vary depending upon where your audience is located. These could include anything from understanding potential shipping and freight rates, the rate exchange on the international money market, language barriers, to marketing strategies aimed at meeting other cultural expectations.

“What?” The really big question!

Next, consider the big “what.” Branding an image starts with targeting a potential audience of consumers to determine a need or potential want that you might fill. Define your brand and brand marketing strategy by answering these “what” questions.

What does this targeted market need or want that you could provide?

What products or services do you offer?

What kind of an image are you trying to project to your audience?

What are the core values of your company and product offering?
What is the mission of your company?

What is your company’s specialty?

What is your company’s tag line and what message does it send?

What is your company image saying to the marketplace?

What are your company and brand’s outstanding qualities?

What qualities grab your audiences’ attention?

What qualifies your brand to be better than the competition?

What would you like them to think of your brand?

What really characterizes or personifies your company and represents your products or services?

The big “when” and “how”–Timing is everything!

When you have answered all the pertinent “what” questions, determine the objectives for your brand. This will give you a better idea if now is a good time to start developing your brand or whether you still need to rethink some of your ideas.

The “when” and “how”go hand in hand. Once you have made a list of your brand’s objectives and determine the timing is right, start defining “how” you will accomplish and meet each objective.

Break down objectives and development a strategy for each one.

Be specific and make goals within certain time parameters.

Then schedule those actions on your business calendar.

If you follow these steps and answer all 4 “W’s” and the big “H,” you will have a clearer definition of your audience and how to more effectively achieve your brand’s objectives.

Devise a strategic marketing plan around the answers.

It will help you build stronger brand credibility as well as influence and motivate customers to buy from you. Your brand will be perceived as a “brand leader” and not just another tag-along-follower.

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