The first question which comes to our minds is , what is a brand???
For a trifler a brand means big names like H&M, FOREVER21, M&S, GUCCI, LOUIS VUITTON and many more. For a fashionista a brand means an entire world of things which includes clothing, accessories, beauty etc.
It increases credibility, stability in the market.
HOW TO DEVELOP YOUR OWN BRAND
Every big brand has an inspiring story behind it with a lot of trial and error and in-depth research work. Along with being passionate about your product, it’s very important to know how to build your own brand.It’s easy to go through the pointers, but to study it in depth requires patience. As they say” patience is the key to success”.
Earlier it was not possible to reach the entire world but through e-commerce and digital marketing we have come a long way, it’s easy to connect your brand to every corner of the world.
FEW POINTERS TO OPEN YOUR OWN FASHION BRAND
It’s exciting…isn’t it?
Every big designer started their brand from a garage or a living room but followed a business plan at a sustainable growth pace. When it comes to opening your own brand, requires many pointers to be understood.
1. IDENTIFY A NEED
a) Need to understand the niche in the market
b) What is your USP (unique selling proposition)!!!!
c) What factors are important and how to go about it.
2. IDENTIFY YOUR TARGET AUDIENCE
a) Need to do market research.
b) Create a buyer persona (where you understand what your target people are).
If you are dealing with a crop top with graphics, the target audience will mainly be for an age group between 16-25. These people will be the main buyers.
3. WHO ARE THE COMPETITORS
a) Need to do a market survey on your product.
b) Check the details of your competitor, how much they have priced their product to? How are they promoting their product?
4. IDENTITY OF BRAND
a) Every brand needs a logo, brand name and last but not least a slogan.
b) If you have finalized your clothing line you can always go ahead with a perfect brand name and a logo.
c)Once it is decided you need to make your website designed as per the line you have selected.
d) Make a tie-up with Etsy, Shopify (these are online shops where the consumer is targeted and can lead to a link which will direct)
5. START THE MARKET PROCESS
a) Market process is also an important part.
b) For marketing now, a day’s people approach influencers on Instagram to promote any brand by giving them access to wearing clothes.
c)You can put up your brand on billboards to promote it. (a lot of investment goes into it though!!!!!)
d)Content marketing is like writing a blog, having videos of draping, styling your clothes which increases the value of your brand.
e) Marketing through your customer by telling them to give feedback (either video or by writing what is their feeling regarding our brand), this will again create a niche in the consumers.
f) As I said earlier, you need to have your Podcast also with fashion influencers, need to keep them in the loop as consumers easily connect to them.
6. BRAND AWARENESS
It is about how communicative are you with your consumer.
a) When you tell them, something related to your own story of your organization, it brings them closer to you.
As a Bengali, I am a foodie, love to go and hog outside or even ordered food online when a pandemic was there.
A few days ago, was going through Zomato, was impressed by their promotion. They have put an email to all their loyal customers and forwarded a chat to them which is between the finance team and marketing team, where they were planning to do some justice to all the people by reducing the price of the food items. It was a beautiful chat and the end result is beneficial to all the customers….
NO COOKING JULY………. ENJOY UP TO 60% OFF
So, the inference drawn from this short story is you need to be communicative with your customer.
Say thank you to them by giving them discounts……. (which really counts nowadays).
Not to forget the most important part of opening your own brand as it requires a heavy investment.
a) Finance companies give loans with less interest (you can vouch for that).
b) Look for investors, who can invest and can have equity in your firm as a shareholder.
c)Business credit card is another option but need to be aware as it has a huge rate of interest.
d)Business line of credit works like a credit card where you are assigned an amount which you can use by dividing it into sections and use it when and where you want.
So, starting your own Brand is not difficult, be prepared for the ups and downs as your start your new venture-these pointers should always be kept in mind so that you can go ahead with the entire process with a positive outlook.
After going through all the suggestions, just keep in mind which fashion career you want to go ahead with, an online clothing store or customized garments, Boutique…. The list is endless
If you are whole to new to Fashion and Branding. DSOD offers several short-term and long-term courses in Fashion Designing, Graphics Designing and Interior Designing.
You can check and enrol into one of the courses to begin your journey in the world of Fashion Designing with advanced skills and knowledge, that you can gain at DSOD.
JUST GO AHEAD AND ROCK IT!!!!!!!!!