Brand Boost Challenge #1 - RESEARCH

Research is one of the greatest, and most cost efficient (usually free!) tools you have. You can research anything to gain greater insight into what products you should sell, how much customers would pay for your services, and what your competition you’re up against.

It may seem unnecessary to spend time on OTHER businesses, but knowing your competition is one of the best ways to improve your own brand. Don’t exactly know your competition? Ask your customers! They can tell you who they’d consider over buying from you.

The first task is to research the competition and their brands:

  • List out the names of the top 5 businesses you consider to be your competition. These should be businesses who sell the same type of product or service as you, at the same relative price point, with the same customer. You need to clearly know what you’re up against.

  • Next, make notes on each one’s brand identity. Is it clean? Masculine? Consistent? Bright? Use as many descriptive words for which you can think up.

  • List out what you really like about each brand…

  • …And what do you hate?

  • Make sure you clearly document this all so you can refer back to it easily. Whether a word document, Powerpoint presentation, or Canva doc, having access to your visual information is essential. Keep that in mind as you move forward as well. It will help you tie it all together visually for reference.