This is an important  topic in today’s competitive market -Buyers are more demanding and there is lot of pressure to cut costs, improve efficiency etc. Therefore, more than ever companies have to distinguish themselves in the crowd and that is not an easy task. This is where branding strategy comes into play. We are working with an emerging company with expertise in a niche area and helping them brand this business unit.

How does that work? It starts with a complete understanding of the client context – their strengths, weaknesses, challenges etc and this is garnered through interviews with  stakeholders  such as management, employees and customers. With a sound grasp of the internal context, we need to do a similar study of the market. This includes understanding  buyers and influencer behaviour. The idea is to know the market, what it demands and expects and then map your business’ strengths/capabilities with that. Once that is done, the branding path becomes clearer and you will know how to position yourself and what are the vehicles required.

For example, if the market is mature and opportunities exist to provide support services – then, positioning yourself as a value adding player with business and domain understanding will not be of much use as that is not something the prospects are looking at. On the other hand, it will be useful for an emerging market. So, it is critical to understand the market thoroughly and zero in on what their pain points are.

Very often we find companies not performing a holistic exercise of market + internal context. They end up positioning themselves based on their internal context which may not always be effective for the market they are targeting. Today, you have to know your customer intimately, the way their business operates, the industry challenges,  the way they think, the way they take decisions  and so on. Once you know the market you are operating in, it becomes easier to address/engage them. Sometimes, it will require you to change the way you are working  - you may need to acquire different kind of skills and approach the market in ways that you are not used to – this change as usual will be challenging but worthwhile for the market you want to target.

Branding involves not only aspects that are external facing but also aspects that are internal to the company. The branding strategy should be harmonious across all stakeholders and it is not sufficient to just address the customer/prospect community. With a comprehensive approach and sustained efforts, it is possible to make a dent on your target market.

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