''Focus on building the best possible business. If you are great, people will notice and, opportunities will appear.''
Starting a business? What makes a brand successful in the digital age? Have you ever given it a thought?
While traditional brands focus on positioning their brands in the minds of their customers, successful brands focus on positioning their brands in the lives of their customers.
Furthermore, they engage customers more as users than as buyers.
We have distinguished brands into two types- purchase brands and usage brands.
The purchase brand focuses on creating demand to buy a product whereas usage brands focused on creating demand for the use of the product. Let's take an example of a makeup Department. Company A focuses on getting customers to buy their products with samples and professional makeovers, while Company B is working for making people feel comfortable in being able to use that product at their homes.
Purchase brands emphasize promotion while usage brands emphasize advocacy.
Purchase brands care about what they say to their customers while usage brands ponder on what customers say to each other. Usage brands focus more on their content values and experiences of their customers.
Usage brands influence how people feel about their brand on every point, whereas purchase brands try to shape what people think about their brand along the path to purchase. Usage brands work in a way to give their customers the best experience not only the best purchase! It is the quality and service that makes a brand successful!
Purchase brands focus on the moment of truth that happened after the transaction like, researching shopping and buying the product. Usage brand focuses on the moment of truth after the transaction like -delivery, service, education, customer satisfaction, or sharing.
The purchase brand focuses to create brand influencing other's life but usage brand makes a customer lives better.
People buy trust and loyalty.
People have high hopes and expectations from brands. They want you to connect. Brands should work on their relationship with their customers. Your brand reflects your identity, it is made from your ethics and values. How great your values are, is reflected in your brand.
Marketing and customer not only these things matter. Companies are successful because of the way they are run and controlled. How well you have mastered the work culture plays a significant role in your success. You might have heard people mentioning how popular Google is to work, however, it is easier to get into Harvard than into Google. Ever wonder why? Millions of people apply to work at Google annually because it is widely known for its impressive and unique management style, work and lifestyle, and employee perks. This helps build a positive environment to foster innovation thereby increasing profits.
Staying ahead of the competition
Being able to think differently is crucial!
Successful companies can think of ideas and build strategies before their competitors often a year before.
Stay alert- being innovative is key to success!
Let’s take an example of Nokia and Samsung. Nokia fails to withstand the completion whereas Samsung's constant updates made it to the market.
Big brands have to see the change in the market and build strong strategies to adapt their product or service and stay ahead of the competition
Consistency is crucial! You need to consistently update your brand awareness and message. The customer wants to buy from brands they know. Consistent marketing means there is no dilemma about what message is being conveyed.
Big brands focus on their goals! Without customers, you have no business. Focus on what you are good at without expanding and stretching itself too thin! Involve your customer and you will be rewarded!