There are many reasons someone may want to become an entrepreneur. Maybe they are focused on profits or want to be their own boss. Some may just be looking to make their hobbies and passions lucrative. And of course, others may have specific creative visions they would like to share with the world. Despite the different motivations that fuel a company, every entrepreneur needs customers for their businesses to survive.
Customer spending is a business’s lifeblood. Without people buying products and services, no business can stay afloat, let alone thrive. With that in mind, entrepreneurs must cater their branding to their target audience.
Where businesses sometimes go wrong is that they fail to get to know those they are trying to sell to. This misunderstanding can sadly eventually lead them to close their doors. Thus, it’s necessary that brands listen to their target audiences and give them a voice in their company’s direction.
The Art of Brand Positioning
You may have heard people say “if you build it, they will come.” When used in an entrepreneurial context, though, it couldn’t be more incorrect. Everyone is building, and this puts entrepreneurs in stiff competition with each other.
Therefore, savvy marketing is a requirement, and there’s no better way to go about attracting people than to understand what makes them tick. This is often referred to as brand positioning. Your aim should be to present your product or service as the best option for meeting a customer’s needs.
Before an individual even purchases or considers purchasing your product, they need to feel drawn to your brand. In the age of digital marketing, it can be easy to put half-hearted feelers out via advertising and social media posts, but there’s much more to it. Efficient brand positioning in digital marketing requires user-centered web design, quality content, and a strong sense of identity. In these ways, you will be able to better relate to your target audience and can work to do so better than your competitors.
Learn What’s Important to Potential Customers
To further optimize your brand positioning, you and your marketing team need to understand what’s important to your target audience as thinking individuals. This mindset of human-centeredness should be present throughout the entire product development and promotion process. A human-centered focus can be divided into two categories: product values and ethical values. Sometimes, one category can override the other in a customer’s mind, but both are vital to building brand loyalty in 2019.
Whatever product you sell, ask yourself what need it is meeting in potential customers’ lives. For product values, this can be addressed by discovering why someone may need your product in the first place and what are the alternatives missing. If there is an underlying need that can be better met, you should set out to do so.
Lifestyle brands have a unique way of approaching this. Many of them — such as Redbull or Nike — sponsor and create events rather than trying to insert themselves into other communities. They meet a customer’s product values by giving them a place to express themselves, which is always needed within niche communities.
But beyond product functioning and event organization is a company’s internal ethics. For instance, in 2019 consumers may boycott an organization that has failed to outline consent and prevent sexual assault internally. But they may give extra support to a company that encourages its employees to green commute in the age of climate change. These two examples show that customers value brands that care about the same things they do.
Engaging With Customer Concerns
No company is perfect, and all would do well to listen to complaints and concerns their customers give them. Doing so could make one-time purchasers into loyalists. Common complaints include:
- Product defects
- Ethical concerns
- Payment mistakes
- Questions about future products
It’s vital to have avenues open for complaints to be voiced. Chatbots, feedback forms, and customer service email addresses are common in the digital age. Additionally, some people prefer to express concern vocally, so opening a phone line may be smart as well. Creating these opportunities shows customers that you value their experience and build brand trust.
Conversely, the absolute worst thing you could do would be to not take customer complaints seriously. This defeats the purpose of a customer-centered brand and will ultimately have a negative effect on your sales and longevity. In order to keep their businesses thriving, companies need to keep their purchasers satisfied. Without adequate understanding and respect, you will lose them. Brand positioning could be compromised with lousy service.
Central to this concept is having a firm grasp on potential customers’ values. Striving to build a customer-centric brand is vital and increases your chances of better branding success in years to come.