1. When should they have a “corporate” brand versus a “personal” brand?
The best
way to answer this question is to first quickly
define branding since there is a lot of
misconceptions about what a brand is and what it is
not. A brand can be defined as a combination of
attributes that represent a unique promise of value
to your target audience. These attributes may
include price, products, services, name, colour,
slogan, values, ideas, consistency, location,
delivery, and innovation.
Everyone should have a personal brand. This applies to whether you are an employee or a business owner. A personal brand is critical today for your professional success. For a small business, the corporate brand is inextricably linked with the personal brands of the owner. Just think about it. How can a small business’s brand represent a value different than the value of the owner? Whether you build a corporate brand for your business or just your personal brand, this decision is less important than the importance of building a brand.
Can you build a successful personal brand and still have a successful and larger business? Absolutely! Just look at people like Oprah, Martha Stewart and Steven Spielberg.
Everyone should have a personal brand. This applies to whether you are an employee or a business owner. A personal brand is critical today for your professional success. For a small business, the corporate brand is inextricably linked with the personal brands of the owner. Just think about it. How can a small business’s brand represent a value different than the value of the owner? Whether you build a corporate brand for your business or just your personal brand, this decision is less important than the importance of building a brand.
Can you build a successful personal brand and still have a successful and larger business? Absolutely! Just look at people like Oprah, Martha Stewart and Steven Spielberg.
2. What is important when building a brand – corporate or personal?
There
are a number of important factors when building
your brand. Here are what I feel are the top three.
(1) Consistency
Your brand needs to be consistent. Strong brands always represent the value and attributes they stand for regardless of when, where or how you get exposed to them. Your brand needs to deliver on its promise 100% of the time. As your business grows and you add people, products and services, each must also remain consistent with the brand and deliver on the brand promise 100% of the time.
(2) Uniqueness and Clarity
The leading brands in the market today are uniquely identified and they own one or two words in the mind of their target market. By owning I mean no other brand in the same industry represents that word. For example, Volvo owns the word “Safety” in the mind of the car buyer. FedEx is synonymous with “overnight delivery”. Have you ever FedExed a package – with a different courier?
(3) Constant
In order to build a strong brand it needs to be constantly exposed to the mind of your target consumers. This is achieved using a combination of marketing tactics to achieve all this such as print, web, TV, and radio.
So how do you achieve this when you are a small business? Simply stated you must be focused, uniquely different and constantly exposed to your target audience given the resources (time and money) available to you.
(1) Consistency
Your brand needs to be consistent. Strong brands always represent the value and attributes they stand for regardless of when, where or how you get exposed to them. Your brand needs to deliver on its promise 100% of the time. As your business grows and you add people, products and services, each must also remain consistent with the brand and deliver on the brand promise 100% of the time.
(2) Uniqueness and Clarity
The leading brands in the market today are uniquely identified and they own one or two words in the mind of their target market. By owning I mean no other brand in the same industry represents that word. For example, Volvo owns the word “Safety” in the mind of the car buyer. FedEx is synonymous with “overnight delivery”. Have you ever FedExed a package – with a different courier?
(3) Constant
In order to build a strong brand it needs to be constantly exposed to the mind of your target consumers. This is achieved using a combination of marketing tactics to achieve all this such as print, web, TV, and radio.
So how do you achieve this when you are a small business? Simply stated you must be focused, uniquely different and constantly exposed to your target audience given the resources (time and money) available to you.
3. I already have a business plan, why do I need a marketing plan?
Within your
business plan you will have some description of
what your products and services are, who is your
target market, and what your expectations are for
sales. Specifically, the marketing plan will be a
much more comprehensive document that specifies
both your overall marketing strategy and what
tactics you plan to use to execute on this
strategy.
Your marketing plan should include the following information:
1. Organizational description – especially marketing and sales
2. Market Overview – what is the environment like that you will be competing in
3. Company Identity – description of your unique identity and brand promise to your customers
4. Portfolio – what are your products and services
5. Target Markets
6. Competitive Environment – who is your competition for each market and product/service offering and how are they successful
7. Company Sales Model – how do you plan to sell your products and services
8. Marketing Objectives and Strategies – for 12 to 36 months
9. Marketing Mix Activities – what are the specific activities that will be used to meet your objectives. How will you reach your target market and build your brand awareness.
When it comes to a Marketing Plan remember that it’s not the plan that’s important, it’s the planning.
Your marketing plan should include the following information:
1. Organizational description – especially marketing and sales
2. Market Overview – what is the environment like that you will be competing in
3. Company Identity – description of your unique identity and brand promise to your customers
4. Portfolio – what are your products and services
5. Target Markets
6. Competitive Environment – who is your competition for each market and product/service offering and how are they successful
7. Company Sales Model – how do you plan to sell your products and services
8. Marketing Objectives and Strategies – for 12 to 36 months
9. Marketing Mix Activities – what are the specific activities that will be used to meet your objectives. How will you reach your target market and build your brand awareness.
When it comes to a Marketing Plan remember that it’s not the plan that’s important, it’s the planning.
4. Marketers refer to “positioning”. What is meant by this?
A brand or
company’s positioning is determined by two
components, market segmentation and
differentiation. For any particular brand, it’s
positioning will be based on both the market
segment it is targeted at and how it is uniquely
differentiated within that market segment.
Businesses should always be positioning their brand(s) to give their target market(s) a unique selling proposition. This does not happen by accident, usually. A brand’s position is achieved with a conscious effort on its differentiation. To create a unique selling proposition you will need to understand the customers within that market segment and what values are important to them. You will also need to know how your competition is uniquely identified.
Successful brands and companies have learned to achieve a unique position in the minds of their target customers.
Businesses should always be positioning their brand(s) to give their target market(s) a unique selling proposition. This does not happen by accident, usually. A brand’s position is achieved with a conscious effort on its differentiation. To create a unique selling proposition you will need to understand the customers within that market segment and what values are important to them. You will also need to know how your competition is uniquely identified.
Successful brands and companies have learned to achieve a unique position in the minds of their target customers.
5. Why Should I Focus on a Niche Market?
When many
small businesses are launched the owner usually
attempts to target a large market. This is
typically out of fear that a smaller market segment
won’t be able to provide sufficient revenue to
sustain the business. So, by carving out a small
percentage of large market they will grow and be
profitable.
If they continue to pursue this strategy they realize it is difficult to even capture a small percentage (1% to 5%) of a large market. Not only do they find that their marketing funds are limited to create awareness, but they have not been able to achieve a unique position in the market. The market is too broad with too many competitors following the same strategy.
Small and large companies that have taken the approach of niche marketing have learned that they no longer compete with the masses, but only a select few companies. By going narrow and deep these businesses have achieved a unique market position. Plus, their value proposition is now aligned with the values desired by their niche market. With time they build a strong brand within the niche and can now command a premium price with greater profitability per sale.
If they continue to pursue this strategy they realize it is difficult to even capture a small percentage (1% to 5%) of a large market. Not only do they find that their marketing funds are limited to create awareness, but they have not been able to achieve a unique position in the market. The market is too broad with too many competitors following the same strategy.
Small and large companies that have taken the approach of niche marketing have learned that they no longer compete with the masses, but only a select few companies. By going narrow and deep these businesses have achieved a unique market position. Plus, their value proposition is now aligned with the values desired by their niche market. With time they build a strong brand within the niche and can now command a premium price with greater profitability per sale.
6. What else should I be doing to find clients, besides networking?
The rule of
thumb for your marketing activities is to avoid the
use of “One”. That is, doing only one type of
marketing. Every business should be reaching their
target market in a number of ways. To rely
completely on networking or only one type of
marketing may be suicide. Here are some ways that,
when used effectively, will generate leads for your
business:
a. Cold Calling – the myth that cold calling doesn’t work is just that, a myth
b. Write Articles – articles should be focused on content and value to the audience not self-promotion.
c. Speak – find opportunities to speak about relevant topics your customers will care about
d. Network – yes, keep this up, but include industry organizations
e. Web site - make sure you promote the site and use search engine optimization (SEO) effectively
f. Blog – another way to create an effective web presence and write
g. Newsletters – whether in print or electronic – see “b” above
h. Direct Mail – be very targeted to make this work for your business
a. Cold Calling – the myth that cold calling doesn’t work is just that, a myth
b. Write Articles – articles should be focused on content and value to the audience not self-promotion.
c. Speak – find opportunities to speak about relevant topics your customers will care about
d. Network – yes, keep this up, but include industry organizations
e. Web site - make sure you promote the site and use search engine optimization (SEO) effectively
f. Blog – another way to create an effective web presence and write
g. Newsletters – whether in print or electronic – see “b” above
h. Direct Mail – be very targeted to make this work for your business
7. How do I increase traffic to my web site?
Increasing
traffic on any web site should be really about
increasing relevant traffic. In other words, the
consumers or businesses that are within your target
market. In order to increase relevant traffic you
need to work on three things with your web site:
(1) Web site design
(2) Search engine optimization
(3) Online and offline content
(1) Start with a good web site design. Your web site should look professional, be visually appealing, and easy to navigate. Your web site must provide you with all the technical capability to deliver to your target customers the content, products, and services they need. This may include e-commerce, blogs, downloads, contact forms, newsletters, and support forums.
(2) Optimize the site for search engines. This means ensuring your tags for title, meta description, and meta keyword are optimized for your target market and industry. To optimize for your market and industry you need to know what your customers will be looking for and how they will describe what they are looking for using key words.
(3) Possibly the most important aspect of site is your online content. After all, this is the reason they came to your site in the first place. This will include the information about your company, your products and your services. Your online content should also include blogs, newsletters, white papers, and forums that are accessible from your web site. Spend the time and effort to have well written content and relevant content for your customers. Give your audience a reason to come back and visit again.
The goal of your web site should be to drive sales for your business. The site must be able to both attract potential customers and persuade them to take the next action, which may be to purchase or contact you for further information.
(1) Web site design
(2) Search engine optimization
(3) Online and offline content
(1) Start with a good web site design. Your web site should look professional, be visually appealing, and easy to navigate. Your web site must provide you with all the technical capability to deliver to your target customers the content, products, and services they need. This may include e-commerce, blogs, downloads, contact forms, newsletters, and support forums.
(2) Optimize the site for search engines. This means ensuring your tags for title, meta description, and meta keyword are optimized for your target market and industry. To optimize for your market and industry you need to know what your customers will be looking for and how they will describe what they are looking for using key words.
(3) Possibly the most important aspect of site is your online content. After all, this is the reason they came to your site in the first place. This will include the information about your company, your products and your services. Your online content should also include blogs, newsletters, white papers, and forums that are accessible from your web site. Spend the time and effort to have well written content and relevant content for your customers. Give your audience a reason to come back and visit again.
The goal of your web site should be to drive sales for your business. The site must be able to both attract potential customers and persuade them to take the next action, which may be to purchase or contact you for further information.