Formulating a Local Brand Strategy in Melbourne 101

 Melbourne is the capital of Victoria and is the second-largest city in Australia. It’s a beautiful city and also considered as one of the most livable places on the planet. The place is best known for its street art, laneways, and it’s regarded as the coffee capital of the world by many.

Called Batmania in the past, it used to be the nation’s capital. It served as Australia’s capital from 1901 to 1927. It is also considered as the nation’s unofficial sports capital.

The city has the most number of restaurants and cafes than any other city in the world. It also has the fourth-largest train system in the world.

There’s plenty of support for entrepreneurs here. In terms of infrastructure, five of the tallest buildings in the country are situated here in Melbourne’s central business district. The tallest building is the Eureka Tower, and the oldest one is the Mitre Tavern.

If you’re a business, then customer data is very important when you’re trying to formulate a brand strategy in Melbourne. The median age in the city is 28, while almost 3 million tourists visit here each year, other than English, Mandarin is the most commonly spoken language.

What is a Brand Strategy?

When formulating a brand strategy in Melbourne, you need to get a good handle on the basics. The strategy you formulate for your particular brand represents your long-term plan for your business.

To do that, you need to identify specific and actionable goals. Remember that your strategy affects all areas of your enterprise. You need to consider certain factors such as your emotions, the needs of your customers, and your industry competition.

Identifying Your Goals

This is the most basic concept when it comes to brand strategy. By setting your goals, you determine why you are creating a brand in the first place.

You determine what you hope to achieve with this particular brand. You will define your short-term and long-term objectives. Your goals will be the basis or your branding efforts.

You need to answer a few questions, like:

  • Who is your targeted market segment?
  • Which pain points do your products/services resolve?
  • How do you plan to deliver your unique solution?
  • Why should people trust and use your brand instead of the competition?
  • How can you best serve your leads and customers to retain them?

Avoid Short-Term Pitfalls

When building a brand strategy, it is very easy to fall into traps in the short-term. Some entrepreneurs get so caught up in their short-term business tactics, and this usually paves the way out the door.

Remember that no brand is ever built overnight if you want it to last. Sure, lay down and use short-term tactics but never lose sight of the long-term objectives, which is your real goal when you started your business.

Be a Flexible Entrepreneur

To help you stick with your local brand strategy in Melbourne, you need to learn to be flexible. You should make room for changes and adjustments. Remember that the market changes and the tastes and needs of your target customers change too.

Here are a few key points to consider:

  • Your personal and business goals will change over time. That means your brand strategy must change with it as well.
  • Your competition can bring in changes that affect how your target market makes its decisions. You must be able to go with the flow as it were and change your brand strategy to keep up and eventually beat the competition.
  • New opportunities will present themselves as you develop and grow your brand. Your strategy must be flexible enough to accommodate these new opportunities.

Establishing a local-based brand strategy is essential if you want to touch base and develop lasting relationships with your customers. Your strategy must be flexible enough and particularly tuned to the locals in Melbourne if you want to be successful.

Author Bio: Kathleen Zara works as a freelancer and entrepreneur working from a start-up learning along the way about marketing, social and networking, creating web sites, and web content.