Research Your Target Audience and Your Competitors

Before you begin making decisions on how to build a business brand, you must first have a thorough understanding of the current market, including who your potential customers and rivals are.

This phase of how to build a brand can be done in a variety of ways. Examine the direct and indirect rivals that come up when you Google your product or service category. Check subreddits about your customers and listen in on their conversations and product recommendations. Talk to people in your target market and find out which brands they use in your industry. Examine the social media accounts or pages that your target audience follows and responds to. Go shopping, either online or in-person, to get a feel of how your consumers think. Make a note of who your "lowest hanging fruit" customers are, the ones you might most easily sell to. Who your top-of-mind rivals are, the established and well-known brands in the market. What your consumers say and how they say it, their interests and the language they choose to express them. Before moving further, it's critical to understand this since it will determine what your brand should focus on and how it can distinguish itself from competitors.