The Million Dollar Question: How to Build a Brand Online

Insights into brand building and lead generation 

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Ways To Effectively Create A Brand Online


 

DEFINE TARGET CUSTOMER

“Less is definitely more”

Customers tend to recognize and remember a brand if business offers one unique product or service, rather than confusing the customers with variety of options to start with. Markets are more likely to embrace specialists over generalists.

FOCUS ON SINGLE OBJECTIVE

“Carve out a niche market”

First step in building a brand is in defining the customer base; could be geographical,product specific or segment based. Depending on the category, businesses might have to clarify the target audience to whom they would be serving.Businesses should think simple, direct and concise
 

BUILD THE BRAND

“Brand is like a welcome mat”

There is so much noise online, unique and well-defined brand catches the customer’s eye. “When you become top of mind to anyone who needs what you do, your brand is well defined”, said Melinda Emerson, Smallbizlady. Brand must have distinctive logo and look- and- feel of the website which distinguishes it from the competition.

MARKETING STRATEGIES

“Every step counts”

Businesses should have clearly defined realistic goals. Marketing strategies employed should be measurable.
  • Website should be simple and self-explanatory.
  • Wisely choose a social media to voice out.
  • Develop at least 5 keywords for the brand that help people to locate via search engines.

Why Should One Create A Brand Online?


Today, entire audience is on social media. Businesses need to build a “strong and attractive brand” to grab their attention. Have them experience the brand and services, which will eventually convert them to loyal customers. A study states that 72% of consumers trust online reviews. 85% of consumers use the Internet to make a purchase of avail any service, so it’s essential to be easily found online.

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THE BIG TRUTH

“Vital few and trivial Many”

Pareto analysis solves the equation and drives the focus of a small business owner towards customers who account for major sales for the company, although they might be just handful of them. 85% of customers choose known brand over unknown. And of which 15-20% are loyal to single brand driving up the sales.
 
Sources
  1. Stein Rogan+Partners’ “Balancing Brand and Demand” study
  2. Emma K. Macdonald and Byron M. Sharp. Brand Awareness Effects on Consumer Decision Making for a Common Repeat Purchase Product: A Replication. Journal of Business Research 48, 5-15, 2000.
  3. Center of Retail Management, Northwestern University (Retailer and frequent shopper programs, 1988)
  4. The New York Times

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