Have you been working on your businesses branding with no success? Have you implemented all of the recommended branding strategies to find that your branding has hardly improved? Basic branding tips tend to work only for a generic type of business model. Unique factors or business characteristics can change your campaign needs. You might need to take your branding campaign to the next level. These are some of the most common business mistakes.
Not paying enough attention to your competitors
What if someone told you they could give you the formula for business success? Although this is not entirely possible, you can learn a lot from your competitors. Too many businesses focus entirely on overtaking their competitors, instead of using them to learn. Pay attention to where your competitors are marketing, who their current customer base is, and what their customers are saying about them. Use a competitive intelligence program to gather detailed information and to fully analyze it.
Customer satisfaction is not the same as customer experience
Customer service satisfaction seems to be an important goal in every businesses plan. The goal is to provide each and every customer with the best customer service possible. Although customer service is important, it is not the same thing as a customer experience. While you want your customers to be happy, you also want them to remember your business the next time they are looking for a similar service. Satisfaction does not bring the customer back. The entire experience, from start to finish, is what brings customers back again and again. Customer loyalty can be worth 10 times as much as a single purchase. In fact, the most successful of businesses have a significant and loyal following of customers.
Not reaching your customers where they are the most
Are you constantly sending print ads to your potential audience, with no success? It is possible that these customers are not interested in your product or service. It is also possible that they already have a strong and loyal following to one of your competitors. It can be very difficult to get a loyal customer to switch over to your business. It is usually best to target new customers and work on creating a sense of loyalty to them. Approximately 48% of consumers said that the most critical time to gain their loyalty is when they make their first purchase or begin a service.
Reaching your target customer base means doing demographics and market research to understand where they are most. It is possible that your targeted market is on social media. However, if your social media marketing campaign is not bringing you business satisfaction, perhaps you are targeting the wrong social media platform. As of January 2014, 74% of online adults use social media sites and this number is expected to increase every year. This doesn?t mean that you can simply target social media sites. You have to find which sites work the best and produce the most results.
Keeping the same branding strategy for years
When you first implemented your branding strategy, you saw significant success results. However, the results began to decline and now they are almost non existent. Another common mistake that businesses make when it comes to branding strategy is failing to make changes to their existing campaign. Consumer needs and expectations are constantly changing, meaning that branding and marketing strategies should also be regularly changing.
Creating a branding strategy should not be a one size fits all type of campaign. Using generic branding techniques will only get you generic results. Make sure you are aware of the some of the most common mistakes that businesses make when it comes to branding. Keep these mistakes in mind as you create your business branding strategy.