6 Behavioral Market Segmentation Examples

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When it comes to marketing automation, few techniques are as beneficial as segmentation, which allows you to categorize your leads based on data that you’ve collected on them. This, in turn, allows you to personalize their experience more, thereby making your nurturing efforts more effective. However, normal segmentation is based on who the user says they are; often provided by the information they fill out in your opt-in forms.

Another effective form of segmentation you should look into is behavioral market. Behavioral market segmentation segments your leads based on how they behave. This behavioral data comes from analytics. The following are six examples of behavioral market segmentation that you can benefit from:

1. User Purchasing Behavior

Basic purchasing behavior can be broken down into four categories:

Complex– When the user is highly involved in both the purchase and decision-making process between two very different brands.

Variety-Seeking- In which the user isn’t that involved in the purchasing process. However, they may choose a different brand just to try it out.

Dissonance-Reducing– Where the customer is happy with their brand, but they know other options that could be better. This also happens, when the customer needs to make a major purchase, but there’s not much difference between the products they’re considering.

Habitual– When little involvement is needed and the product doesn’t vary much from brand to brand. It’s mainly just personal preference that matters. 

These behavioral market segmentation categories make it easier to identify what users are more likely to make a purchase and how you can make your product and brand stand out from the competition.

2. Occasion-Based Behavior

User behavior is sometimes identifiable by special occasions. For example, consumers often make more purchases around the holiday season or for special events in their own lives, such as birthdays and anniversaries. Occasion-based behaviors can be split up into universal occasions, regular personal occasions, and rare personal occasions. This will allow you to tailor content to all of these different occasions in a more personal manner.

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3. Usage Rate

Usage rate divides your users into heavy, mid-level, and light users based on how often they purchase your products or services. When segmenting your audience based on their usage behavior, you’ll be able to focus on turning light users into mid-level users and mid-level users into heavy users while keeping heavy users happy.

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4. Purchase Reasoning

Different users have different reasons for purchasing your product or service. Knowing what those motivations  will make it easier to meet their needs. For example, if you are selling business software, it may have many benefits, including ease-of-use, affordability, scalability, and integration capabilities. If you have an article about the affordability of your solutions to a user that purchased your software due to its scalability isn’t going to be an effective way to engage with them.

5. Customer Loyalty

Keep in mind that just because a customer keeps buying your product or service doesn’t mean that they are a loyal customer. Customers that are continually in need of the product or service that you offer are habitual customers. Whereas loyal customers only purchase your products and services, ignoring your competition.

They are important because they end up generating most of your revenue and aren’t that expensive to cater to. As a result, it’s important to be able to identify who your loyal customers are from your regular customers. That way  you can focus on building your relationship with them.

6. Consumer Status

Determining a user’s status will help you figure out how to best approach them. For example, non-users need to be aware of what their problem or pain point is before you can offer your product or service as a solution. Other types of consumer statuses include prospects (who are learning about your product or service), first-time buyers (who may need to learn how to get the most out of your product), regular users (who may benefit from supplemental products), and defectors (who are ex-customers that have chosen a product from a competitor whose trust you need to try to regain).

These are six types of behavioral market segmentation examples that can help you to more effectively–and efficiently–engage with your users and to continue building relationships with them over the course of their buyer’s journey.

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Factors That Influence Consumer Purchasing Decisions: Rethinking the Marketing Funnel

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In order to continue attracting your target audience, you need to keep up with the wants and needs of customers. This can be a real challenge if you don’t understand the factors that influence consumer purchasing decisions. Those factors are a lot different than what they used to be, which means that the customer journey has changed a lot as well. This updated journey is referred to by many as the consumer decision journey (CDJ). What makes the CDJ so different than traditional marketing funnels is that each consumer’s CDJ is unique. Keeping that in mind, the following are three of the biggest factors that influence consumer purchasing decisions in today’s digital age:

Product/Service Reviews

Very few consumers are going to blind buy a product or service based on the content they’ve come across on your website. It doesn’t matter how effective you say it is, how clear your demonstration videos are, or what kind of accolades you’ve received. Customers are going to look up reviews first. Online reviews are easy to find — and many consumers aren’t going to feel comfortable buying a product or service unless it has good reviews.

Reviews come in many forms. There are tons of different websites where customers leave reviews. For example, Angie’s List, Yelp, and Amazon all allow customers to leave feedback on products, services, and overall customer experiences. In addition to customer reviews, consumers also seek out professional reviews. For example, Consumer Reports provides not only professional reviews of certain products, but they offer comparisons between different products as well.

Encouraging customers, as well as professionals, to review your products and services can be hugely beneficial. Doing so (as long as the reviews are mostly positive) can help improve your reputation and build trust with consumers who are in the evaluation stage of their journey.

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Peer Recommendations

More often than not, consumers will initially become aware of brands or their products and services through peer recommendations. They may ask someone in person for a recommendation or ask online, via social media, online chat, or email. It’s one of the reasons why it’s so important to continue targeting existing customers. The journey doesn’t end when someone makes a purchase. You want to continue marketing to those customers to turn them into repeat customers. This allows you to build brand loyalty, which in turn will turn them into brand ambassadors that will recommend your products or services to their peers.

 Social Media

Having a social media presence is incredibly important because so many consumers will turn to social media as a way to do research. They’ll look up brands, ask them direct questions, ask their social groups about their thoughts on your products or services, and look at your social interactions in general. This means that they will look at how you engage with your followers, as well as with users in general, to get a sense of how you carry yourself and whether they can relate to you. A brand with no social presence, or one that doesn’t regularly engage with the community is not going to make as good of an impression on consumers.

It’s important not to become over-reliant on the traditional marketing funnel. Consumers have so much power when it comes to doing their own research about different brands and their products and services, that it’s important to understand how unique the CDJ is. These are three very important factors that influence consumer purchasing decisions in this day and age that you need to make sure you address.

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Using Customer Segmentation To Improve Engagement

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Once a lead has made a purchase and has become a customer, your job isn’t over. The most successful businesses are those that turn their customers into repeat customers–and this requires you to continue building the relationships that you’ve already established through regular engagement. However, as your business begins growing, it’s going to become more and more difficult to keep track of all of your customers and to meet their individual needs. To deal with this challenge, you should implement customer segmentation.

What is Customer Segmentation?

The strategy behind customer segmentation involves using the data that you’ve collected on your customers, including the information that they have provided, their general behaviour on your website, the way they’ve engaged with you, and their purchase history, to divide them into different groups so that you can effectively target different groups within your audience at a time.

For example, if you sell pet food, then sending out a promotion for new dog food to customers who only own cats aren’t going to be an effective way to encourage them to make another purchase. If you’ve segmented your customers, you can send that same promotion to a customer that actually owns a cat or that has bought cat food in the past.

Customer Segmentation Examples

The following are a few customer segmentation examples to give you an idea of how to leverage your customer data to segment your customer lists:

1. Demographics

You can obtain customer demographic information via surveys and opt-in forms. This information can be helpful for segmentation for a number of reasons. For example, if your business sells a product that comes in an affordable model as well as a luxury model, knowing which customers fall within a high household income bracket will be helpful. Additionally, the way you engage with your audience may differ depending on their age. Certain types of messaging will appeal more to college-aged adults than senior citizens, for example, and they will likely have different pain points as well.

2. Geographic location

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Segmenting your customer list based on where they live can be very helpful for a number of reasons. First off, you may have store-specific promotions. If you have multiple locations throughout the state or throughout the country, then you’ll want to make sure you’re targeting customers that can actually take advantage of it. Secondly, you may have products or services that are specific to certain parts of the country. For example, you may sell heavy-duty winter clothing. Even if you’re an online retailer, targeting customers who live in warm climates where it doesn’t snow will be ineffective.

3. Purchase patterns

Knowing when your customers are making their purchases and what they are purchasing can help you segment them into groups that you can target to improve sales even more. For example, some shoppers may be hesitant and may regularly leave products in their shopping carts without checking out. You could send them a special offer or discount code to help encourage them to see the purchase through. Grouping together customers based on when they make their purchases (on the weekend, in the evenings, on certain holidays, etc.) can help you time your interactions more effectively as well.

4. Device used

Tracking what devices your customers used to make purchases or to view products can be helpful in providing the right offers at the right times. For example, customers who are using mobile devices, such as smartphones or tablets, to make purchases are most likely doing it away from work since most people who browse during work hours do so on their computers.

These are just a few ways that you can implement customer segmentation to improve your ability to engage with existing customers using the data you’ve collected from them. Successful customer segmentation will greatly improve your marketing efforts as a result.

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A Brief Guide to Sales Lead Generation

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While your ultimate goal, when it comes to marketing online, is to increase sales both in the short term and over the long term, increasing sales won’t be possible unless you generate leads. As such, the success of your inbound marketing efforts are going to revolve around your ability to generate new sales leads. Without new leads, you can’t obtain new customers, which means the growth of your business will be severely stunted. Keeping that in mind, the following is a brief guide to using inbound marketing to improve sales lead generation.

What Is Sales Lead Generation?

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Sales Lead generation refers to the process of identifying, attracting, and nurturing potential customers or clients for a business’s products or services. The ultimate goal of lead generation is to generate sales-ready leads that can be converted into paying customers.

A lead is basically a consumer (or company if you’re a B2B business) that shows some level of interest in the products or services that you offer. Engaging with a lead tends to be more productive than engaging with someone who isn’t a lead (for example, cold calling people from a list you’ve obtained or trying to hand out pamphlets to people about your product on the street).

Because you have a better chance at closing a sale when engaging with a lead, you’ll want to generate as many leads as possible. To do this, you will need to attract potential leads to your brand, whether it’s to your website or to your social media page, and find a way to convert them. This is done by giving them a reason to be interested in not just your products and services, but also your brand in general, and by encouraging them through calls-to-action to sign up to your email, give you a call, or fill out a form (to name a few examples).

Once you’ve captured your leads, you can nurture them through the sales funnel, eventually turning those leads into customers (and hopefully, loyal customers).

Ways To Generate New Sales Leads

The following are a few inbound tactics you’ll want to implement in order to generate new leads:

1. Create blog content

Setting up a blog and regularly publishing high-quality content that’s relevant to your brand is an excellent way to generate new leads for a number of reasons. The following are just a few ways that content can help generate leads:

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Relevant calls-to-action can help capture leads who are reading your blog content.

Quality blog content builds brand authority, which increases the amount of trust the public has in you. This means that leads will be less hesitant to provide you with their personal information when filling out forms.

Quality blog content is more likely to be shared by your leads on social media, providing it with more exposure to more potential leads.

Properly optimized blog content can help bring more leads via organic traffic from search engines.

Related Article: How to Have a Successful Blog (Expert Tips)

2. Run PPC ads

PPC (pay per click) ads can be incredibly effective for attracting highly motivated leads. Many businesses use PPC ads on search engines like Google and Bing to find leads who are already in the advanced stages of their buyer’s journey and are looking for specific solutions to their needs or problems. PPC ads can help attract these leads and drive them to your website.

3. Offer free trials

Consumers who are looking for potential solutions to their problems or needs will be attracted to the opportunity of signing up for a free trial, especially if they are under no obligation to buy. It’s an excellent way to draw leads who aren’t quite sure what product or service they want to go with (in terms of brand) or even whether it will fulfill their specific need.

4. Engage on social media

Engaging on social media by taking part in community discussions or posting comments on relevant topics can help you attract leads. You can ev

en post contests that are relevant to your brand that require users to follow you in order to participate. Your followers are leads that you can continue to nurture through social media engagement and that you can drive towards your website via content and other offers.

5. Implement a referral program

An undervalued method for sales lead generation is by getting current customers to do it for you. You could implement a referral program that rewards customers for referring leads to your brand with discounts or other similar rewards.

As important as sales lead generation is, it’s not always about generating as many leads as possible. Yes, the more quality leads you to generate, the better, but not all leads are of high quality. For example, you can technically buy leads. The problem with this is that the leads you’re purchasing may not even be familiar with your brand, which means that they may not even have the problem or need that your solution is attempting to address. Focus on generating your leads organically and you’ll create a much better chance of converting them.

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What is a Brand Story? Differentiating Yourself From The Competition

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With all the choices that consumers have in this day and age, just having a good product at a fair price point just isn’t going to cut it. Consumers don’t just care about the product (or service) they’re buying, they care who they’re buying it from, which is why your company’s brand identity is so important to your success. One of the important elements of your brand identity is your brand story. A lot of businesses mistakenly think that this is covered in their “about us” page on their website; however, your brand story is not the same thing as your company history but the goal of a brand story is to create a connection between the brand and the consumer, and to establish the brand’s identity in the minds of consumers. While your company history can be an important part of your brand story, your brand story involves the consumer as much as it involves your company and is absolutely essential in helping you to differentiate your company from your competition.

What Is A Brand Story?

A brand story is the narrative of your brand. It shouldn’t just provide information to the audience about who your company is, it should also tell consumers what your motivations are and should inspire an emotional reaction. For example, while the history of your company can play a role in your brand story, it’s arguably more important why you started the company than how you started it. This helps to get across your mission as well as your core values. Additionally, this allows you to address the consumer as a character in your story. The reason you started the company was to address a certain problem or need that your consumers have, after all.

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There are dozens — if not hundreds — of companies that are similar to yours, whether they are competing directly with you or not. These companies may offer similar products that address similar needs to the same target audience. Simply saying that your products or services are better than theirs won’t get you far, even if you’re able to generate content that backs your statements. This is because consumers need to be able to connect with you on an emotional level. They want to relate to the brand that they choose. To do this, you need to differentiate yourself from your competition via your brand story.

A brand story makes it easier for consumers to connect with you due to the fact that storytelling has been an effective way to communicate messages and ideas throughout history. Using storytelling techniques in order to inform consumers about your company is going to make it much easier for them to stay engaged with you. There are several ways that you can do this. For example, you can position your company as the main protagonist whose goal it is to help the consumer or you can position the consumer as the main protagonist who must overcome an obstacle (a problem or need that the consumer has) with the help of your company (a solution in the form of your products or services).

When it comes down to it, creating a brand story helps differentiate your company from your competition while also making your brand more engaging for consumers, thereby making you more relatable on a personal level and more trustworthy as a result.

Creating Your Brand Story

Now that you understand what a brand story is and it’s importance, it’s time to develop your unique brand story:

  • Determine your company’s purpose

    What is your origin story? This doesn’t just refer to the date your company was founded, but why you decided to establish your business. What was your motivation? What is your mission? For example, maybe you realized that customer service within a certain industry was poor and you wanted to provide a better customer experience. Consumers want to know that there’s more to your company’s goals than just profit.

  • Understand who your audience is

    You can’t tell a story without an audience, and you need to know who you’re talking to in order to tell your story effectively. Your story should include your audience as a character, so you must know who your audience is. What are their main challenges, needs, and goals? Knowing this (along with more detailed demographic information) gives you a better understanding of how to tell an engaging story. It’s also why developing buyer personas is particularly helpful when it comes to your brand story.

  • Make sure your brand story remains consistent

    The products and services you sell need to align with your story. For example, if your main goal as a company is to provide an affordable alternative to a luxury product, then you can’t suddenly begin selling high-priced luxury items. Everything you do, from products and services to your marketing efforts, needs to align with your brand story. This means that you also need to maintain the same tone and messaging of your brand story across all platforms. A lack of consistency is going to hurt your brand identity and, in turn, hurt your trustworthiness.

  • Keep it simple

    Simple brand stories are easy for consumers to remember and make it easier for you to maintain consistency. If your story is too convoluted or long, you’ll lose the message and maintaining consistency across platforms becomes more difficult. It will also confuse your audience and help make your competitors’ brand stories appear more clear and well-defined.

  • Be authentic

    Make sure that your brand story actually represents who your brand is. Many companies try appealing to different audiences and adjust their story inauthentically to try making an emotional connection with them. This often happens if you don’t understand who your audience actually is. For example, if you run a clothing line that mostly middle-aged adults purchase but you want to break into the youth market, you might try to spice up your brand story to connect with a younger crowd by using younger slang and referring to pop culture or issues that you think they care about. However, consumers are smart — they can tell if a brand is being inauthentic and it won’t go over well.

  • Be personal

    Appeal to the emotions of your audience. You want them to feel something about your brand story. That’s why it’s important to be authentic about your motivations and your values. You should also make your audience part of your brand story so that it’s more relatable to them.

Your brand story is an important element of your brand identity and helps to emphasize what your brand’s message is. By creating a brand story and aligning your marketing efforts with that brand story, you’ll establish a foundation for who you are and what your company’s purpose is, thereby making it easier for consumers to relate and connect with your brand on a more personal level.

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Difference Between B2B and B2C Marketing Automation

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Marketing automation offers a company the chance to centralize most of its marketing activities into a single software platform and to automate it to an extent. This centralization appeals to both B2B (business to business) and B2C (business to consumer) companies. However, the way B2B and B2C marketing automation works is different due to fundamental differences between the two groups.

Why Is Marketing Automation Between B2B and B2C Different?

Effective marketing addresses each customer’s individual goals and needs. This remains true whether the customer is B2B or B2C. Because these groups have differing goals and needs, the way you market to them has to be different. As a result, the following differences remain when you use marketing automation:

  • The marketing focus differs:
    • With B2B, the focus is on generating leads and keeping their subscribers engaged throughout the longer sales cycle.
    • With B2C the focus is on building the brand.
  • The tactics used are different:
    • B2B marketing delivers content that positions the company as an industry leader, while nurturing the lead in the sales process.
    • B2C marketing is about the customer journey and making data-driven recommendations for products or services.
  • The tone of the messages is different:
    • B2B messages are to targeted groups at different stages of the sales cycle.
    • B2C messages are more personal and highly relevant to the individual.

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How B2C Marketing Automation Differs From That of B2B

With all the differences between marketing to the B2B and B2C groups, it’s easy to see why their marketing automation needs differ as well.

  • Communication channels. While both B2B and B2C businesses rely on email for marketing, the B2C use other channels as well. Text messaging, push notifications and retargeting are just a few examples. The B2C marketing automation solution needs to handle these additional channels.
  • Data used. B2B consumers are businesses that have specific needs. Marketing data for this group would include approximate company size, industry, point of contact and specific needs. B2C consumers are individuals with specific tastes. Marketing data for this group includes age, gender, purchase history and frequently visited product categories.
  • Features needed. B2B companies need help with nurturing their leads through the sales cycle. They want features like lead scoring and integration with their CRM system. B2C companies want to retain the customers they get, so they want features like reputation management, retargeting and retention marketing.
  • Marketing focus. B2B marketing focuses building the one-on-one relationship. B2C is more about building the brand and building mass appeal.
  • Pricing. B2B automation is priced based on the number of contacts managed within the system. B2C automation is priced based on the volume of data. It is not uncommon for B2B automation to have only 100 contacts in the system while B2C has thousands.

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The differing approaches of B2B and B2C marketing lead to their different marketing automation solutions. Trying to substitute one strategy for the other is difficult, due to different features and pricing structures. If you need help finding the right solution for your business, contact us at Stevens-Tate.

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How Does Targeted Advertising Work?

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Back before the Internet, it was difficult to escape ads. If you were watching TV, then you had no choice but to watch the commercials. However, because users have more control over what they view online, advertisements are easy to ignore. As a result, marketers are using targeted advertising to expose their ads to users who are more likely to show interest in their products or services. This reduces the chances that someone will ignore the ads. Let’s know more how this targeted advertising actually works.

How Does Targeted Advertising Work?

In order to target an audience that might be interested in a product or service being advertised, advertisers will use data collected on the user. This data can include demographic information as well as behavioral data. For example, if a person views a certain product on a website, their browser will submit this piece of data to third-party advertising networks. That information will be stored in a browser cookie, which is a snippet of code that shows sites that the person has viewed. When the person visits a different website that has the same advertising network, ads for the product the person viewed on the first site may show up. For example, if a person was checking out a new sofa on a furniture website and then visits a social media platform, like Facebook, they might find an ad for the sofa they were just looking at show up on their feed. This is a result of targeted advertising.

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Types of Targeted Advertising

There are several types of targeted advertising. The following are a few common examples:

  • Social media advertising – Many social media platforms will place advertisements in your feed or on the side of your pages. They have access to a lot of demographic information about its users that can help target different people.
  • Behavioral advertising – Many sites will use past purchasing decisions to advertise to their visitors. For example, Amazon often recommends different products based on the purchasing behaviors of its customers.
  • Search engine advertising – Search engine ads, such as Google AdWords, target users based on their search engine queries to match the keywords they use with those used by their ads.

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How To Use Targeted Advertising Effectively

While targeted advertising can be incredibly effective in helping you find an audience that has a need for the products or services you’re advertising, it does have one drawback: some people may be put off by the ad if it looks like you’re using personal information about them in order to target your ad. This can come off as an invasion of privacy, after all. Keeping that in mind, the following are a few tips on how to use targeted advertising:

  • Be transparent – Make sure that you let visitors know that you’re collecting data and how you are using that data. The more transparent you are, the less your audience will feel like you’re spying on them.
  • Create control – Although you’ll want to use the visitor data on your site to target your ads, you should provide users with a sense of control by implementing security features, such as SSL certificates, firewalls, DoS, and more. This lowers the chances of someone stealing user information and it helps protect visitors.
  • Don’t use sensitive information – You don’t need to use every bit of information you collect to target your ads. For example, you should avoid using information such as health conditions, race, relationship statuses, and sexual orientation to target ads.
  • Targeted advertising can be an incredibly effective way to market your products and services. This is because it helps you identify audiences that will find your ads relevant. This makes your marketing campaign much more cost-effective as a result.

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Should You Consider A Growth Driven Design Strategy?

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In this day and age, every business understands the importance of having a company website. Even local mom and pop shops have a web presence, whether it’s a basic website or a social media page. However, not everyone realizes that there are different ways to build your website. If your website is the foundation for all of your online marketing efforts, then consider implementing a growth driven design. It is true that when properly implemented, traditional website designs can still be very effective. However, growth driven designs have their own set of unique advantages worth taking a look at.

What Is A Growth Driven Design?

Traditional websites tend to be designed all at once. Meaning, once the website goes live, it’s finished–everything is complete. Growth driven design involves a more incremental process. It’s not completely finished once it launches.

Instead, you continuously work on the website, implementing design elements based on data collected from visitors interacting with your site. This allows you to design your website from top to bottom based on buyer observations which, thereby, improve your web design over time. Additionally, it prevents design elements from growing stale and eliminates the risk of being stuck with poor design choices.

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Growth driven design

The Benefits 

The following are a few of the advantages to choosing a growth driven design:

Eliminate the need for massive overhauls – Traditional website designs often require complete redesigns after only a few years. Because a growth driven design requires that your website be regularly updated, major overhauls won’t be needed.

Meet the needs of your users – While traditional website design certainly makes use of some data, a lot of the design elements will no doubt be based on the personal preferences of those in charge of designing the site. Likewise, they may use elements that a competitor has used to great effect. However, your site design will be more effective if it’s tailored to what your users want, not what you want (or what your competitors use). A growth driven design is a user-driven one.

Launch your website quickly – It can take some time to launch a traditional website design. This is because once it’s launched, it’s done. Since a growth driven design requires consistent work on the website, it’s not expected to be finished once launched. This means that you can get it up and running much quicker.

 Support a goal-oriented strategy – Long-term marketing goals require constant work. Being able to consistently improve your website will make it easier to support the goals that you’ve established.

Make better use of your resources – There are certain choices that you may have made with a traditional website design that you’ll just be stuck with until you do a redesign. This ends up being a waste of resources, whereas with a growth driven design, you can change what’s not working.

Shift, pivot, or adjust on the fly – Not only does a growth driven design make it easy to make needed changes on the fly, it also makes it easy to change course should you shift in regards to your business goals or model.

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Implementation

There are three main stages when it comes to implementing a growth driven design. These stages are as follows:

Growth driven designStrategy – Creating a strategy for a growth driven design is not that dissimilar than creating a traditional web design strategy. You’ll need to identify your goals and what you want your website to achieve. You should also perform extensive research so that you can make as many data-backed decisions as possible in the initial stages of your site design.

Launch Pad – During this stage, you’ll launch a site that looks and performs better than what you have but that isn’t finalized. The launch pad is a foundation on which you’ll build your website. Start with creating a wish list that will help achieve your objectives. Narrow that list down to a list of priorities that need to be implemented from the start.

Improvement – The third stage is never-ending–it’s the stage in which your launch pad site goes live, data collection on visitors begins, features are added, and improvements are made based on that data.

One of the big advantages is the ability to continually adjust your website design based on how users are interacting with your site. This prevents your site from growing stale and makes it easier to meet the needs of your audience. While traditional web designs can still be effective, be sure to consider your website design options by looking into growth driven design as well.

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What Is The Brand Development Process?

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Branding is more than just creating a logo and slapping it on a website or the side of a van. Brand is about a consumer’s perception of your company. A positive perception means that a customer has a sense of quality, value and trust in your company. A negative perception means the opposite. Connecting emotional with a brand takes dedication, a brand leader and relentless following the style guides rules and guidelines. That is why you need to understand the brand development process and how to do it successfully.

Brand development is a multi-stage process with the ultimate goal of building brand equity in a consumer’s mind. Brand equity is an intangible set of assets that cannot be tracked on a balance sheet. But, the value of that equity is the most valuable asset a company can own. Think about Kraft, Amazon, Apple, Will Ferrell or Servpro. What emotional ties do you have with these brands?

The Brand Development Process

Developing a brand must be part of the larger marketing plan for the company. It is often the biggest challenge but the most critical. You don’t have to invest millions to develop your brand, but making the effort will pay off.

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Determine what you are branding

You can brand almost anything. The most common things are a person, a company, a product or a service. A critical part of the branding process is determining exactly what you are branding, positioning the brand, what you are promising with your brand, your brand story, and your elements and style. This process can be overwhelming, but with the help of a marketing team, you can make it happen.

Research your target market

Marketing research into your target market is critical for effective brand development. It is a step that many startups overlook because they think they know their audience. The reality is that, professional market research will give you critical insights into who the target is, what they like/dislike, what their challenges are, and how you can help them. As I have been doing this for 30 years, not ONE company has ever properly realized their target audience upon the first meeting.

Compile your brand definition

The next step is developing a clear brand definition. This definition can be in the form of a story or statement that clearly reflects what your brand is all about. Your marketing team will help you define what you are offering, how your target audience will benefit from it, what guarantees you offer, and what your unique selling proposition (USP) is. Remember to ask the question, what can this brand do or stand for that no other brand can say?

 

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Create your name, tagline and logo

Giving your company a name, a tagline and a logo is the fun part of brand development. But, it is not something you should do without careful thought. Your marketing team can help you determine what name, tagline and logo will resonate with your audience. Nike’s Just Do It! has become a staple of a strong statement just as “It’s Finger Lickin Good” or “Just like a Good Neighbor, State Farm is there”.

Launch the brand

With all the elements in place, it is time to launch the brand. That means creating your first products, offering your services, or making a name for yourself. It could mean many things to many brands like digital campaigns, radio spots, drip campaigns, demographic targeting, print or even showing up at tradeshows. On the surface that sounds easy, but there are many moving gears that need to align to keep the marketing moving forward. The good news is that with all the prep work you did before, your launch will have a great foundation.

Manage the brand

With good up-front work, your brand launch will be successful, gaining momentum as you provide consistent service and quality. Even with a successful launch, you will still need to manage your brand going forward. That is why you need a dedicated team, always monitoring your company’s reputation, doing continuing research, and updating the brand as the market evolves. This step is one that is most ignored when things are running well, but is most important.

These steps will help you and your marketing experts develop a strong brand. The full brand development process takes time. But, look at it as an investment in the company’s future, one that will pay off with dividends for years to come.

I always tell individuals that if your air conditioner breaks, you hire a professional that does it everyday to find the problem and find a cost efficient way of solving the issue. The same theory can be applied to marketing and developing a brand. Marketing companies do it everyday, know the shortfalls and successes, and will have it launched months or years before you could on your own.

 

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direct vs indirect marketing 1

Direct vs Indirect Marketing

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You may not realize it, but all marketing efforts can be categorized in one of two ways — direct marketing or indirect marketing. On the surface, direct vs. indirect marketing is relatively easy to understand.

Difference Between Direct and Indirect Marketing

Direct marketing involves engaging with leads or customers directly. For example, sending a customer an email that contains a promotional offer. Indirect marketing is a strategy in which you put yourself in a position to be found by leads. Consequently, allowing them to engage with you instead of just directly engaging them. For example, writing a post on your website’s blog. Which leads can find through external links or through a search engine, is a form of indirect marketing.

Both direct marketing and indirect marketing can be effective strategies. However, to make sure that you implement them effectively, it’s important that you not only understand what the advantages of using each are, but also what the potential disadvantages are of direct vs indirect marketing.

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Direct marketing includes a number of traditional marketing strategies that everyone is familiar with. For example TV commercials are a form of direct marketing. So are billboards, magazine ads, radio ads, and telemarketing. That’s not to say that digital marketing can’t be direct. For example, email marketing and PPC advertising are also forms of direct marketing. You’re essentially trying to find and address a specific audience — and you’re trying to get them to take action right away. The following are some of the advantages to such a strategy:

Advantages

  • You can identify specific audience segments, thereby allowing you to connect with people who are likely interested in your product or service already. For example, if you run a TV commercial, you can choose a time slot on a channel that you know your audience is watching.
  • If you know the audience you’re addressing, then you can personalize your messages, thereby allowing you to nurture leads and build stronger relationships. For example, using the data you have to segment your email list allows you to send more relevant content to your recipients.
  • The data you collect from your direct marketing efforts is more measurable. For example, you can track your email response rate to determine how effective your direct marketing strategy is and to make adjustments accordingly.

While there are plenty of advantages to implementing certain direct marketing techniques, there are some potential drawbacks as well. These can include the following:

Disadvantages

  • If you’re too overzealous, your direct marketing efforts may cross privacy boundaries and may even come off as spam, which will hurt your brand reputation.
  • You have to have an understanding of who your audience is and where you can find them. Otherwise, you may be advertising to people who aren’t interested in your brand, which is a waste of time and money.
  • Your overall reach won’t be as widespread since direct marketing requires you to focus in on a specific audience to be effective.

Learn more about indirect marketing strategies

 

Indirect Marketing

Indirect marketing is essentially marketing in which you’re not trying to sell a specific product or service. For example, content creation in the form of a blog of email newsletter are forms of indirect marketing. A lot of social media marketing is indirect as well. For example, if you’re simply engaging in discussions or posting links to informative articles. The idea behind indirect marketing is that you’re nurturing relationships, building brand authority, and generating brand awareness. The following are some of the advantages of indirect marketing:

Advantages

  • You provide value to your customers without coming off as self-serving, which helps to build your brand reputation and increase brand trust.
  • Indirect marketing is typically much less expensive than direct marketing.
  • Indirect marketing is a long-term strategy, which means that your efforts will continue to have an impact throughout the future. For example, you might write a blog post that someone reads years later.

As beneficial as indirect marketing is, there are a couple of disadvantages when compared to direct marketing. These disadvantages include the following:

Disadvantages

  • Tracking performance is more difficult. This is because you’re not honing in on specific customers — you’re casting a wider net.
  • Indirect marketing efforts may not have an instant impact — it may take some time before they begin drawing in new customers. As such, it can be frustrating not to see an immediate impact on sales.
  • Because it’s a long-term strategy, indirect marketing requires constant attention. Whereas direct marketing tactics can work on their own, indirect marketing functions as a whole. This means that you need to be constantly working at it. There’s basically no end in sight.

You are now well aware of the differences between direct and indirect marketing.

As you can see, when it comes to direct vs indirect marketing, both direct marketing and indirect marketing have their share of advantages and disadvantages. Instead of choosing one over the other, the best course of action is to use a combination of both direct and indirect marketing. This will allow you to see both short-term and long-term results, especially if you’re careful when it comes to avoiding the potential drawbacks that both strategies can present when used improperly.

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