You have a business and you’re worried about your Brand not being seen or even heard about and you’re getting frustrated .. there’s no need to be .. it’s just a Myth that getting your Brand seen or heard of is Hard Yakka.
Read my post and see if it makes sense to you .. pretty easy right!
Don’t make the mistake of thinking you have to approach branding the same way big companies do. Niche marketing on the internet is a very different way of doing business than selling laundry detergent on the supermarket shelves.
Throwing money at a brand is no guarantee of successfully hitting your target market. Examples of this type of thinking and how it’s not the case are frequently shown and in particular the internet “Hotshots” like these examples listed below ..
Tesco have shown that online grocery deliveries can work but Webvan never displayed the business nous to be a success. Raising $375 million, Webvan expanded to 8 US cities, and built a huge infrastructure. However, with extremely thin margins being neglected, unreliable delivery times, and insufficient customers this dot com was always doomed to failure.
The idea was that you could order anything from snacks to movies at any time and have them delivered direct to your door within one hour with no delivery charge. The idea was great but ultimately a little too good to be true. Eventually a $10 minimum charge was introduced but the company still went out of business after working through $280 million in investment.
After raising $166 million in May 1999 eToy’s share price fell from a high of $84 to only 9 cents per share in February 2001. In such a competitive industry and unable to benefit from pester power (kids encourage parents to make a high percentage of purchases in the toy industry) this company was destined never to live up to its billing.
In short you can see that throwing money at your brand is not necessarily the way to go, although if you do have a failure, you might still be able to profit from it by selling an eBook of all the mistakes you made while trying to boost your brand, just like Boo.com did.
Anyway. Let’s get to the 3 Major Branding Myths .. ahhh that’s better.
“I need to make my business / company / product a household name”
Truth: The most successful and profitable businesses do one thing and do it very very well. They target, closely target their market. In other words focus on getting your business name and your advertising in front of your best potential customers. These are the people who have expressed an interest in your product or service and what it offers. Don’t try and get your products in front of everyone .. not everyone wants your product, that is of course unless your product is Jelly Beans and in that case, your market has already been covered .. anyway I digress.
Why would you waste your hard earned cash advertising to a broad audience when you can channel that money into your targeted market group who actually want your product or service. Makes sense?
“Branding my business online means thousands of dollars worth of high-visibility banner advertising”
Truth: Banner advertising is dead, well maybe not dead, but perhaps very very ill. Banner advertising used to be the hot ticket item that sold millions and believe me companies paid millions to have their banners popping, flashing and generally goggling your eyes out. Not any more tho. Although having said that I must say that targeting a banner or two to your target market does work albeit very slightly.
Try and focus your advertising dollars on more targeted performance based platforms, as in Google AdWords or Yahoo’s Search Marketing programs as these actually do work cause they place your ad in front of only those people searching for your products or services. Makes sense again don’t it?
The bottom lines is .. Pay for Customers, Not Potentials
“I’ll need to spend lot’s of money if I want to gain brand recognition”
Truth: There’s plenty of free and low-cost techniques that you can use to brand your e-business, especially if you’re a small to medium business or even a home based business. The one that springs to mind with the least amount of effort is Social Marketing.
Social marketing is today’s biggest advertising platform with sites like Facebook, Twitter and all the others thrown in competing for your dollar spend and most importantly, giving you the reins by allowing you to target your advertising directly to those wanting your business.
Social marketing is also easy to do cause you’re the one doing it and let’s face it, you’re the one that knows most about his/her business .. aren’t you? If not, you’d best get cracking and find out about your own business so as to tell others and get them buying your great products and/or services.
So the upshot is .. getting your brand in front of people wanting to see it has not ever been easier to do. The internet is like a huge database of customers wanting whatever all the time and if you find your niche market you can get in front of these of people for hardly any or no cost at all.
Hope this little post inspires you and helps to get your business happening as that’s the business we’re in at ROI Consultancy.