If you love everything to do with fitness and you’ve been wondering, “How do I build a fitness brand?” you’re in the right place. Our actionable tips will steer you in the right direction. Here’s how you can build a strong brand that will become the Adidas of tomorrow.
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- Identify Your Audience
The key to identifying your target customers is to get specific. Think of their lifestyles, their buying behaviors, where they like to hang out, and demographics (such as age, race, and gender). For example, you can decide to target working moms over the age of 30 trying to fit a full workout into their busy day. Knowing the problems your clients face each day will help you offer a great solution.
- Find Your Why
Next, determine your brand’s mission. This tells clients what you're passionate about as a company and the value you offer. In other words, your brand’s mission is your company's reason for existing. Once you know what you want to do for people, you'll find it easier to create a logo and a tagline.
For example, JetBlue’s mission is “To inspire humanity—both in the air and on the ground. When your fitness brand addresses your clients’ specific problems, they will choose it over others that have no clear mission.
- Research
You don't want a brand that looks like a million others out there. It should be as unique as you are. Think of what you can offer customers that nobody else can. Is it a unique training environment, more affordable products, or flexibility?
Use your offerings to make your fitness brand stand out from the crowd. Once you’ve written down all this information, let the people designing your branding elements and products know how you want your brand to feel like.
- Getting Funding for your Brand
Funding is critical in any business. Without money, you can’t achieve your dream of building a fitness brand, irrespective of your skill and talent. But getting funding isn’t easy, and the biggest challenge is usually finding the right sources.
Research has shown that fitness brands need a starting capital of $150,000 to $350,000. This depends on their size, inventory, and geographical location. Thankfully, there are different ways to get money and start your business: angel investors, bank loans, Title loans, and crowdfunding.
Crowdfunding offers a great opportunity to raise capital. Statistics vary, but analysts say there have been more than 8.7 million campaigns created on crowdfunding platforms, raising over $6.9 billion.
- Embrace Social Media
In 2021, Facebook and Instagram, are the top-performing platforms for customer acquisition. They are perfect for building a brand as you can convey your style and values easily. Both sites are highly visual and have propelled many brands to greatness. But it’s important to learn more about marketing on the social networks before you get started.
The rules of the game have changed, and anyone can succeed in business--not just the gurus. As new trends emerge, they create room for people with fresh ideas to enter.
