The best way you can get to the top in your industry or field is by studying what the legends in that field do. It takes more than just wits to build a serious brands and every CEO knows this. Apart from having an aligned brand message that clearly articulates the vision of the company, great tenacity is also needed to ensure that the message is emphasized, crystalized and solidified into the minds of the customers so that in the end, they begin to associate your brand with the quality service that you offer.
A particular company to look at that has been such an example of a startup that branded itself so well that it became easily recognizable and noticeable is the music streaming service Spotify. Although not relevant, back in 2014, Spotify is estimated to have raised a total of $521 million and then was valued at $4 Billion. Fast forward three years later in 2017, the Spotify platform is now rated among some of the world’s best music streaming platforms which over 200 million active users all around the world. It’s just amazing how everything happened so fast with these guys.
If you want to build your brand and scale it up like Spotify did, there are some key lessons you can get to learn from their story and how they did it. And yes, although I agree that it takes a mix of different strengths to build a world-class instantly recognizable company, one thing that can’t be ignored however is the fact that branding is vitally important. Spotify understood that they can appeal to the hearts of millennials, who were their target market by creating a brand identity that resonated with them.
Here are some of the things you can learn from Spotify on how you can build an influential brand in a unique way.
- Accessibility and visibility
Before even going to craft a mission statement, this is one of the things that Spotify invested in. They did all they can to make sure that their streaming platform was both easily accessible and more so visible. This explains why the company invested money into hiring developers to develop a cross-platform mobile application that would enable anyone, regardless of the mobile phone they use to access the streaming service. Apart from that, they also took their platform to the web to ensure that internet surfers would also have the opportunity to access the service. And as efforts to improve its visibility, the brand is wherever their customers are. This is why they have accounts with almost every Social Media platform imaginable.
- Have a well-defined target audience
This should have been the first point but nevertheless, the fact that it’s on number 2 doesn’t in any way diminish its relevance. When branding a business, it’s no secret that the most important thing to look at is your customers. But although the customers are important, they aren’t equal. Spotify knew that the larger pool of people who are likely to be interested in their platform would come from people who loved music. Although that was accurate, it wasn’t enough because almost every one of the 7 billion people in the world loves music. To alleviate that, they had to drill down until they came up with the perfect target audience who they can use for communicating their message and what they offer. The rest was history. In building a brand, it’s important to know who your target audience is and more so figure out ways in which you can craft your message to suit that target audience. That is only how your brand will be seen as relevant.
- Clearly strategize
Although this point might seem related to the one above, the truth of the matter is that it isn’t related at all. Spotify had crafted a brand identity that was summed up by its core values which included being innovative. The core value of innovation was an important part of their overall branding strategy because it went a long way in making sure that the company wouldn’t fight to become a better version of their main competitor, Soundcloud. Another core value of Spotify that also contributed a lot to their overall branding was that of Passion. When such a value is fueled into the branding strategy, it will influence almost everyone in the company to work with a single mind in ensuring that the company achieves its goals and makes its mark.
- Do all you can to improve customer experience
Go to the web platform of Spotify and you will see what I’m talking about. You wouldn’t need a manual or Google search to figure out how you can go around. Customer experience is a huge factor in branding. In fact, there is my own theory that says a company can only influence up to a total of 60% of its branding as the rest is done, by 7 customers. Customers share stories. If your customer service is poor and the satisfaction rates or the customers are low, then it going to be very difficult for your brand to be as influential as it should be.
- Share your story
If you go 100 years back through mankind’s history, you will find out that stories have been shared all throughout and made a lot of impact. Storytelling is one of the best ways we can use to connect with people on an emotional level. Also, people are likely to remember a great story more than they remember anything else. If you want to grow your brand, then be sure to share your story and make it crystalize in the heads of your potential customers. What’s the best way to share your brand’s story you may ask.
Well, for starters, start with an explainer video and have it crafted perfectly to share your brand’s story from when it began up to where it is, it always works. And if you are thinking of improving your company’s brand, then don’t hesitate to get in touch with us.