Don’t Have $3.5M? Here’s Six Ways to Build Your Brand
Most business owners can only dream about running a 30-second commercial advertisement during a Super Bowl. This year’s cost—$3.5 million—put one outside the reach of most. Running these ads is what global brands the likes of Coke and Chevrolet do each year.
We could debate the validity of this spend, but let’s assume you can’t afford one. Here are six valid ways to build your brand without spending that incredible amount of money.
1. Determine what your customers’ true needs, interests and wants are.
If the brand story you are telling provides your customers with the solutions they need, they will tell others all about you. Research, while something many companies resist, is at the heart of knowing and delivering relevant brand messages.
2. Raise awareness among your best-known brand.
Companies often confuse their brand channels and customers alike through a high proliferation of brands. Brought to an extreme, sub-brands sometimes become better known than their parent brand and that’s almost always a dangerous positioning.
3. Establish a customer loyalty program.
Most businesses have a group of loyal customers that stick with it through good and bad economic times. These are the customers you want to focus on in special ways that deliver extra service, product preference, etc. from you to maintain their loyalty.
4. Decrease the number of brand messages you put into the market.
This is a tough one for many companies because they believe the more messages they put into their markets the better. We can all agree that building brand recall among prospects is key. Our research shows that one powerful brand message repeated many times in a market will always beat using many differing brand messages.
5. Know your competition as well as you know yourself.
Tom Marin is the Founder and President of MarketCues, Inc., a national consulting firm. He has worked for some of the world’s largest corporations and middle-market firms. Tom’s focus is to help CEOs drive their strategy shifts and strategic growth programs. Follow MarketCues on Twitter. Tom also welcomes emails new LinkedIn connections or calls to (919) 908-6145.