You have a great business idea and you have invested a lot of time, effort and money in the product/service on offer. The teams are set up, your plans are ready…the trumpets are blowing and you are READY to LAUNCH!!
Poof! The dream breaks!
You never accounted for a Marketing Budget. And maybe, if you did, it is just 10 percent of the total investment into the business.
This is a classic problem faced by business owners and brand heads.
We have a kickass product.
We know that it is the best.
We want to go viral on Social Media, we don’t understand the medium.
We have heard its cheap and the best way to create awareness and drive business.
But, WE DON’T HAVE BUDGETS. Can you make our concept go viral?”
Well, Ahem…if you fall in the above category, then this series is for you.
Don’t make the same mistake that Brand Managers & Entrepreneurs across the world make. The common tendency is to first jump to the online platforms just because they are easily available. In days of yore, when offline advertising and marketing was planned, there was a complete science that goes into the planning, budgeting, launch and monitoring. Even today, offline advertising is planned carefully and the return on investment monitored. Online Branding & Advertising also needs careful planning, budget allocation & strategy.
Marketing Planning & Strategy basics remain the same for Online Branding as well.
What has changed is the platform, first brand managers planned for newspapers, radio, hoardings and other platforms. Now they need to plan for the online platforms.
Before you embark on the journey of Online Branding. Let’s have the basics in place. It is critical that you indulge in this exercise. This will form the cornerstone of your Online Branding activity:
GAUGE YOUR AMBITION:What is my ambition for my business? What problem is my product/service going to solve in the world out there? 10 years from now, what will my business be famous for? In other words, what is your VISION for your business?
ESTABLISH YOUR AIM: What is the aim of the online branding activity? What do you want to achieve by this? Is it visibility, branding, sales? In other words, what BUSINESS MILESTONE do you wish to achieve through online branding.
DECIDE YOUR AUDIENCE: What is the need your product or service is going to fulfill? Is there a group of people in the outside world – total strangers who need this product or service? Do these people live in the metros or tier-II cities or in the villages. Most importantly, do they engage & purchase? If they do, WHICH PLATFORM do they use?
Take help – Involve few intelligent people who can help you brainstorm on the above three factors. It is critical that you get correct answers so that you can plan your online activity properly. Make notes. Once in couple of months, re-look at the notes to examine whether you are on the right path.
Download this printable checklist to help you with this process.
I am sure the curiosity is rising and you want to straight-away jump into the tools, tips and tricks of Online Branding. This series will take you through that as well.
First get the basics right. It will help you plan better.
The next post in the series will be on Identifying the Business Logic for your Brand and Mapping it to Online Branding. #StayTuned !!
How will this series work?
I will be writing 26 blogs that will serve as 26 steps for a business owner to follow to ensure business growth using the online medium. In other words, follow this series and understand how to crack the Online Branding Code!
Do leave your comments and let me know what you think of the series. Also, let me know if you have any specific problems in online branding that you want me to address. I will be happy to solve them in due course.
Disclaimer: This series is an original piece of writing. All copyrights remain with the author, any content re-purpose, copying or lifting is not allowed. The author is a National Award Winning Woman Business Leader in Digital Marketing and PR, she has written this series based out of her own personal experiences while handling large brands. Incase you need to discuss business, please email: firstname.lastname@example.org.
Blog posts in this series:
- Theme Reveal: A2Z of Online Branding – A definitive guide to business growth by cracking the code