Have you ever starred in a blockbuster adventure movie? You might be closer than you think if you’re considering launching a new business or brand. Putting your business in the spotlight is an epic endeavor filled with many unexpected plot twists and turns.
So, before you make this life-changing step onto center stage, let’s talk through some of the most important marketing considerations before launching your new release.
Have you given time and thought to how you’ll steal the red carpet from fierce competition, resonate and attract your target audience who will flock to your business and share rave reviews, script your brand identity and story to captivate your consumers, and meet your business goals to break the box office?
If you’re almost ready to raise the curtain on your new business or brand, we’re here to make sure you’ve considered the top 5 marketing needs you and your business will need to nail before you’re ready for your premiere.
Understand the Entire Plot
The importance of knowing your competition in the marketplace can’t be underestimated. Think of this research as the fast-paced board game and movie Clue! that forces you to think strategically, consider all the angles, analyze your next move, and ultimately, aim to win. It’s imperative to identify your competition, study their offerings, and use that knowledge to write your own brand success story.
Screen-test your potential competitors by analyzing their social media, blogs, and websites to gain valuable insight regarding what your target audience wants and needs. What is their pricing structure? Look at the keywords they use and their tone of voice when communicating.
Conducting a competitive analysis to understand your competition’s strengths and weaknesses can help you develop your own unique selling proposition and project your brand as different from others.
Use the information you’ve learned about your competition’s challenges and look for opportunities to fill these gaps or improve on what your competition is already delivering. Offering better value in terms of quality and price could see you as the next leading lady (or man) in a saturated market.
Earn a Standing Ovation from Your Audience
When it comes to launching a new business, finding the right audience to market your product or service to can be similar to the fairy tale of Goldilocks and the Three Bears. Without finding that “just right” fit, your efforts can result in “too hot or too cold” results, meaning wasted time and bad outcomes.
For example, if you’re trying to sell ice cream to people who are lactose intolerant, it’s unlikely that they’ll be interested in what you’re offering. It doesn’t matter if you have amazing packaging, viral social posts, or an excellent marketing strategy. None of these will be successful if they’re not directed towards the right audience.
To narrow down your search, it’s essential to identify your niche, genre, or specific area of focus to market your product or service more effectively to individuals who are already inclined to want it. Use your competitive analysis to find your unique selling point, a target market that is underserved, or a new combination of services or products that the market hasn’t seen.
Make an effort to understand your potential customers’ interests, preferences, and pain points. How old are they? What do they do for work and hobbies? Are they married? What are their social media consumption patterns? The deeper you dive into learning about the person who needs your product or service the most, the easier it will be to laser-focus your marketing activities to your biggest fans.
Craft Your Brand Narrative Like a Mad Man
In the world of advertising, Mad Men is a cultural touchstone. The show takes us on an immersive journey into the high-octane world of 1960s Madison Avenue, where advertising executives worked hard to create compelling brand stories that resonated with the masses.
Now that you’ve identified and understood your target audience, you can craft your brand narrative that speaks to their needs, desires, and aspirations.
It’s essential to be authentic and true to your brand’s identity—just like Mad Men’s characters whose emotions, desires, and conflicts feel real and relevant. Focus on what makes your brand stand out and speak to those qualities. Tap into emotional drivers like the desire for status and success or the fear of missing out. What emotions does your product or service evoke? How can you use those emotions to create a powerful and memorable brand narrative that your audience will get hooked on?
Finally, focus on the power of simplicity. When crafting your business story, remember to keep it simple and focused. Don’t try to cram too many ideas into your messaging, or you’ll risk confusing your audience. Instead, focus on one key message that speaks to your target audience and creates rave reviews.
Create a Memorable Main Character: Your Brand Identity
Your brand identity is the face of your brand, and once it enters consumers’ minds, you want them to keep thinking about your business and brand. Your logo, color palette, and other visuals should immediately captivate your target audience. Consider what your brand represents and choose visuals that capture the essence of your story.
Your company’s tone of voice and communication style should also be consistent and relevant to your consumers. Use storytelling techniques to bring your brand’s character to life. For example, you could use symbolism to represent your brand’s values or foreshadowing to hint at the benefits of your product or service.
Launch Your New Business Legally
As a business owner, you’ll need to be legally prepared as you navigate the unexpected plotlines of this business saga. Legalities and paperwork might not be fun, but they are necessary. Ensure that you’ve covered all the bases from a legal standpoint.
First, research which type of business structure best suits your company’s needs. Your business structure affects how you run your business, how you pay taxes, and your level of personal liability, so it’s crucial to choose thoughtfully.
Once you have determined your business structure, you’ll need to register your business with the government, acquire necessary licenses and permits, and secure any relevant trademarks or patents.
Consider seeking legal advice or hiring a lawyer or compliance officer to oversee the legal aspects of your business before signing any binding agreements. Ensure that all contracts and agreements you enter into are legally binding, well-written, and fully understood by all parties involved.
It’s almost showtime. Are you ready? By considering these five marketing tips before launch, you can set your brand/business up for a blockbuster premiere. Ensure that your brand resonates with your target audience, understand your competition, scripts a compelling brand narrative, create a memorable brand identity, and have all your paperwork in order. You’ll be on your way to a showstopping launch by ticking all the boxes in these key areas.
To learn more about how Elle Marketing can help you produce next year’s blockbuster business, set up a consultation today.