In this age of technology and almost 100% visibility, people are able to find out about most of what is happening in the world. With that comes the trend of individuals believing that they can be the next Steve Jobs or can create the next Amazon.
Though I believe we all have the same potential to achieve greatness, there’s no way to get around the fact that it requires tremendous amounts of hard work and dedication, and time. What the largest corporations in the world understand is that the major thing that separates them is their branding. For that reason in this article we will be discussing the topic of how to achieve market domination through branding, in six different ways.
Market domination and branding are two things that don’t happen overnight. It takes time, money, patience, and a team. It’s a long term PLAN that requires execution, but there are six steps that will ensure you can brand yourself and position your company to dominate in the marketplace. Visit website to learn more about why brands matter. The six steps are listed below:
1) Plan to be global, and think bigger:
Dominating a market is very subjective. A market can be the zip code that you live in, or it can be an entire state. You first have to define what you mean by “market domination”, but as it is defined by the majority of business owners; it is the entire sector. Now, if that’s the real definition, then you will have to think bigger. Plan to be a global brand FIRST, and then you can work backwards to achieve that goal.
2) Set aside a majority of your resources:
Dominating a market will require plenty of resources. Money, time, people, and tools will be required to handle day-to-day business as well as to continue meeting demand as your brand grows. The first thing you should spend the majority of your resources on should be your company’s branding.
This is a package consisting of your brand’s colours, typography, website, logo, social media, clothing, and anything else that will relay a message to your potential customers and clients. DO NOT try to do this yourself. The best plan of attack will be to hire a professional company to create your branding and strategy.
3) Create a marketing team:
Following up on the last sentence, hiring a team will get you from where you are now, to new heights. There is not ONE famous CEO who did everything himself. Just like there is not one general who won a war by himself. You will need different teams, but for branding, you will need a marketing team. They will make sure that all of your materials look similar and relay the message that you are a global brand.
4) Translate everything:
Because in order to dominate a market we have to think globally, you will also need to translate your content into different languages. This will ensure that your audience is able to pick up your message no matter where they are.
5) Automate as much as possible:
To achieve high branding status, you will need to create an automation system in which you remove yourself from the work. What you have to do is review the system to understand all the moving pieces, but essentially, it will be running without you. The marketing team will automate your marketing, the CPA or accounting team will manage your finances and taxes, your sales team will automate your sales process, and your customer service will deal with clients.
6) Know your market:
In order to dominate a market you have to KNOW it. If you think you know or understand it, we assure you there is another company spending more money on research and information, trying to find out as much about the customers in a particular market. He who knows more is more aware and thus will have an advantage.
In conclusion in this article we discussed the topic of how to achieve market domination through branding. You need to think bigger and on a global scale in order to dominate a market. No one pays attention to those who are playing small. Once you begin to think bigger, you will need to allocate resources, create a plan, hire a marketing team, translate your marketing, and automate as much as possible.