Every manager will tell you that competition has never been fiercer and they don’t refer just to the number of companies offering the same or similar products and services like yours. It’s actually more about the lengths some of them go to in order to gain competitive advantage. Basically, if you are not proactive, trying to be one step ahead of your competitors, chances are your company won’t survive.
In order to run a successful company, managers need to have the right product and service at the price that is affordable to enough clients to make the business sustainable. They also need to make sure potential clients are reached and informed about the offer, while the existing clients need to be kept. One of the most important steps a manager can take in that direction is to create brand awareness.
Why is it important?
When a new product or service is launched, the aim is to attract as many clients as possible. This can be achieved using different methods, but the task is impossible unless clients know about your brand and trust you. Brand awareness is particularly important when it comes to repeat purchases, which in turn boost your market share and incremental shares.
Technology and social media
Since we’re living in the world heavily reliant on technology and social media, it’s unwise to believe that your company doesn’t need to use these tools. Especially now, when one doesn’t need to be sitting next to a computer, but can obtain information through phones and tablets. The communication between sellers and buyers is swift and you should use it to your advantage. Also, social media has become an inevitable and unavoidable part of our lives, which means you have to be present there, too, if you want people to know about you.
Brand strategy
It’s vital you understand the importance of branding your company, not just a product. You need to have people trust you if you want them to buy from you. For that, you need an efficient marketing campaign, especially if you’re new to the market or in the business. Such tasks are best left to professionals, such as this brand strategy team from Melbourne, who can not only design such a strategy, but also implement it. Knowing what needs to be done is only part of the solution. Knowing how to do it is another.
Focus on repeat purchases
It’s said that a great majority of all purchasing decisions are made subconsciously, which means some mental shortcuts are used to speed up the process, especially if there is an overwhelming number of options to choose from. If you’ve succeeded in being the “chosen one”, you have to make sure that the buyer is satisfied with the result of their purchase. That’s where brand awareness comes into play. Those who feel they got their money’s worth from your product and service will be likely to return to you and even recommend it to others. That is the best, organic way of spreading brand awareness.
Creating advantage
The better brand awareness you achieve, the less likely your competitors will be to take over your clients. Also, if you are an established company with a good reputation, many small, emerging competitors will think twice before entering the market and trying to take your piece of the proverbial cake. By nipping this problem in the bud, you’re actually saving your financial and human resources that would otherwise be spent on dealing with competitors.
Appeal to emotions
It was established a long time ago that people are very responsive to messages that appeal to their emotions. Try to establish an emotional connection between clients and your brand, because you want them to remember your brand each time they experience that emotion. Tell stories that can’t be heard elsewhere and that excite the audience. That will help you strengthen the relationship and secure repeated purchases and a great word-of-mouth campaign. If done properly, you’ll see your strategy generate a “snowball” effect that can go a long way.
It’s not easy to position a company among so many competitors trying to do the same. Still, it’s vital you succeed if you want your company to beat the competition. However, it’s a process that allows very little, if any, room for mistakes and omission. You simply have to work on it constantly and build on your previous success, if you really want people to recognise your brand.