1. Know your audience.
Not everyone can target "everybody." Identify your absolute best prospects and focus all your efforts on them and only them.
2. Know your brand.
Sounds obvious, but lurking inside every regulated brand is an image and a perspective that no other brand has. Leverage it!
3. Know yourself.
Yes, it's true ... we marketers invest a lot of ourselves into our work. Support only those initiatives that you love. You'll have a much easier time defending your ideas when they are questioned.
4. Know your competition.
Ever wonder why some media properties are loaded with your competitors? Try an alternative strategy. Find a media property where your brand can own the space.
5. Know the new media landscape, Those kids and the Internet. They can't get enough of that thing! You know it's here to stay, so embrace it! Test every new opportunity you find and you might just land on the next game-changing platform.
--Steven Schreibman, vice president of Advertising and Brand Management for Nationwide
Having a specific niche can surely improve your efforts on branding. I saw a branding speech given by Martin Lindstrom just a couple of days ago, he said that knowing your market gives you marketing leverage and using the social media to promote your brand is a great opportunity to be known to your niche.
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