Choose your gaps: It is important to identify the segments where a brand can excel. Playing on the strengths and choosing what suits the DNA is crucial. Create differentiators by stitching the loose ends. That is how a brand creates a niche for itself.
Empower teams: Create a lean structure where employees are empowered to act with discretion to achieve clearly defined organizational goals. Empowering them to take decisions at their level without deferring to hierarchy, builds trust.
Execute relentlessly: Sticking to a strategy and relentlessly executing it is the key to building a challenger brand. It is easy to get distracted by the ups and downs in the market. Hence, maintain a consistent strategy and keep fortifying it over time.
Connect with the consumer: Occupying a place in the market and the mind of the consumer is important. Make sure that the brand’s message stands out from that of the competitors. Ad campaigns that connect with the consumer emotionally and rationally do well.
Engage continuously: Relationships play a major role in brand building. Enhanced engagement with customers builds trust and provides assurance to them. Keep track of customer satisfaction through hard measurable metrics. Satisfied customers always stay with the brand.