In our previous post, we talked about how you can utilise “lean” startup principles to start building your brand. Today we will look into the six essential parts of any brand story: positioning, promise, personas, personality, product, and pricing.
Most marketers spend countless hours (either in college or at your work) learning about the 4Ps of Marketing. Philip Kotler has left an enormous impact on the industry. Product, Price, Promotion, Place.
A lot has changed in the world since these were first introduced. As a follow-up on our previous post in which we gave an intro into how you can utilise “lean” startup principles to start building your brand. We talked about different ways to describe what a brand is, but what is it that a brand does?
A brand is something intangible, but for most business their brand is or becomes their most important asset over time. An amazing brand will help influence the choices your potential customers, employees, or even your investors are making. In today’s world with so much different choice, such an influence becomes crucial for commercial success and the creation of value.
But that still leaves us with big questions about how to grow your brand.
Why do some brands acquire market share faster than their competitors? Why does the marketing of one brand seem more effective than that of others? What makes a brand powerful?
Today we will be looking into the six essential parts, which make up any great brand story:
- Positioning – How are you useful for your customer?
- Promise – What do you promise to do for your customer?
- Personas – Who are the heroes in your story? Who are the persons you’re trying to help?
- Personality – Who are you?
- Product – What will you offer, over time?
- Pricing – How much is this going to cost your customer?