5 Business Building Behaviors That You Can Adapt From Big Brands
03. Mar, 2012 
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Colorful Collection of Eight Vintage Toy Cars by : DairyFarmAntiques
5 Business Building Behaviors That You Can Adapt From Big Brands
I have spent my career working in marketing for an array of strong consumer products brands. Over time, you learn the tools and behaviors that successful brands utilize to grow. At one point in time, these brands all started small and grew into what they are today. Many of these tools and behaviors can be adapted on a different level for your small business. Here are 5 that you can begin to implement today:
1. They know their competition
Big brands are in tune with their direct and indirect competition. They pay astute attention to what is happening in their industry. They make sure that they have uniqueness and product differentiation from their competition. Now, for the small creative business, this is not always so simple and there are often many players in a given category. What you can do is pay close attention to what is happening in your industry. Look at what other shops in your category are doing on Etsy. Be aware of newcomers. This can be as simple as taking 1 or 2 hours each month to browse your category in search of changes. You don’t have to react, but you should always be keeping this information in mind as you are formulating your business strategies. You should also pay attention to what is happening to your category in the luxury and mass market sectors. You have endless information at your fingertips on the internet. Are there any trends you can capitalize on for your business?
2. They conduct research and react to the results
Of course, large brands are able to take advantage of syndicated research, but they also conduct many different forms of informal research. They conduct surveys and casually test new products and concepts by polling interest levels. This can be a simple as asking colleagues and acquaintances a few questions about the validity/appeal of your product. One form of research that is easy to do is called ethnographic research – this is simply observing people using a product or solution in its natural environment. By carefully observing usage, you may find new uses, likes and dislikes and problems that you can solve. Ultimately it all comes down to asking questions and always being curious and open to learn.
3. They always focus on their customer.
They define their target consumer and are continually thinking about their needs. It is easy to fall into a pattern of creating what we personally like, but in order to have long-term success, we must produce products and services that are wanted by consumers.
4. They use social media to reach their customer
While traditional media like TV and print are important to drive consumer awareness, strong brands are employing an integrated approach and steadily more marketing dollars are shifting to digital. Digital/ social media is a great low cost alternative to traditional marketing vehicles. It does require a time commitment, but this is an area that you can be playing in the same arena as bigger brands.
5. They eat, sleep, live and dream their brand
They are always thinking about their brand, thinking about how they can improve their products, planning for the future. They are careful about communication and message consistency. They talk about their brand to anyone who will listen. Can you run a business without this dedication? Sure, but there are so many businesses out there, small and large, that do have this dedication, without it, it is easy to get lost in the shuffle.
These behaviors work for big brands and they can work for you. How can you implement some or all of them to build the business of your dreams?
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Outstanding article and information. Thank you!
Great article, and I agree with the “eat, sleep, dream, live your brand.” That is the secret to dedication and to keep your focus.
Asking questions and observation are key points. Thanks for writing this article.
Great points, I believe the functionality of your product plays a big role.
Thanks for sharing!
Great information, thank you!
Great article! Thanks!