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Offering a great product or service to your customer may be easy, but explaining your product or service’s value may be challenging.  Here are some tricks of the trade to help you effectively highlight your brand’s value and how you stand out from the rest!

Defining Your Target

Because a brand strategy is only one aspect of your brand’s overall marketing strategy, a your target market is more specifically defined by the 5 C’s:

  • Customers
  • Collaborators
  • Competitors

Customers

Your choice of the brand’s target customers should be guided by two key principles:

  • Attractiveness
  • Compatibility

Attractiveness means that your target customers should be able to reach certain goals for your business, like, ‘does this kind of customer have the potential to become a loyal customer over time?’. 

Compatibility means that your brand’s core competencies and values align with your target customer’s needs/desires.

Collaborators

Recruiting the right partners and affiliates are key-factors to building great brand value.  Branding collaboration usually involves co-branding, where two or more collaborating companies marry the brands together, creating a joint strategy to leverage each other’s  brand power. 

Competitors

As your market expands with collaborations and partnerships, so does your pool of competitors.  Instead of focusing on sharing customers with your competitors, focus on how you and your collaborating partners and affiliates can create a new, value-packed offering that your competitors do not have. 

What’s My Brand Worth?

Curious about how valuable your brand is? Take this quick quiz and learn what stage your brand’s value offering is in: