Over the next couple of posts, we will be looking at 21 reasons why your business needs a brand strategy. It actually is a pertinent question to ask. Why, indeed, does your business need a brand? What’s all the fuss about? Well, I’ve put together these 21 reasons to answer those burning questions as succinctly as possible. So without further ado, let’s dive in!
1. DIFFERENTIATION
A Brand Elevates your Business through Differentiation. Taking the time to clarify and define your brand, will definitely elevate your business, person, or corporation to a higher level of perceived excellence, worth, and status. You begin to get noticed by the right people, and find yourself in new territory and company.
A Brand helps you become Memorable
Because a brand helps you stand out from the crowd, by identifying what makes your business unique, it is an opportunity to leave a lasting impression on your target audience. From your messaging to your visuals and your culture, people will not easily forget how you made them feel.
2. CREDIBILITY
Credibility is vital to the growth of any business (or endeavour for that matter), and a clearly defined brand automatically buys you a small chunk of credibility in the minds of your target audience. Your consistency in communicating your beliefs and values, which is also an integral part of a well-built brand, will help grow that credibility along with your delivery on your promises. Credibility inspires Trust which is the foundation for brand loyalty.
3. ATTRACT CUSTOMERS
A brand that is memorable, and has gained credibility and even trust through its consistent messaging and visual identity, and core brand elements like culture, positioning and personality will find that Customers begin to flock to it. This is because Consumers today are attracted to brands that reflect and align with their own personal values and beliefs. Referrals via word of mouth become easy because people share experiences that they trust. And because defining the target audience is an integral part of the brand, you will not be attracting just any customers, but the customers you want – the ones most suited to your business.
4. ATTRACT TALENT
A Brand attracts Talent. This one is a no-brainer. Just because Talent are like your internal customer, a well-developed brand will also attract the right types of people to join your business or organization. Especially in this current “woke” generation, a lot of young job seekers have become choosier and more deliberate about where they work. Your brand’s Purpose, Vision, Mission, and Values are major deciders for new talent. And since your teams form the lifeblood of your business, your brand culture must connect with the right people, and also keep them. Also, your customers see your culture – if you treat your people poorly, eventually you will not only lose talent, you will lose customers.
5. SALES + REVENUE
A Brand will convert to Revenue and Sales. With a communications framework built into your brand, all the right messaging will begin to go out across your various channels. Since these communications have been strategically designed they will attract the right customers to your business. This is a good recipe for sales, don’t you think? And with increase in Sales comes increase in Revenue.
Now, someone might argue that it is the marketing that brings the sales in, or it is the direct sales methods that push up the revenue. The question is, “What message should the Marketing and Sales be based on?” You got it, the Messaging crafted while building the Brand. Sadly, lots of businesses jump into marketing and create messaging flying blind. Great marketing goes hand in hand with a solid Brand Strategy.
6. LOYALTY
A Brand will drive LOYALTY. When your brand has built on credibility, trust, and performance, and is consistent with its strategy, your customers and target audience enter into the realms of loyalty. A loyal customer base is hard to gain, but invaluable once you have them, as they become ambassadors of your brand for absolutely free. There is a strong emotional connection, that translates into faithful action. How many brands can claim to have fans who put a tattoo of the logo or tagline on their skin? Or who cut the logo into their hairstyle?
Great examples of brands with such high levels of loyalty – Harley Davidson, Apple, Coca Cola.
7. CLARITY
One thing that deliberately building your brand does is that it brings clarity to the business. From management to staff, and ultimately, to the customers. For Instance, it becomes clear Who the brand is. And I say who on purpose, because a well-defined Brand assumes a Human persona. This is how you begin to connect with your customers on an emotional level. People are no longer interested in robotic, disconnected brands; they are drawn to brands with soul – brands that emotionally resonate with them. It also becomes clear who you are for (the notion that your business is for everyone is dead) and your messaging to these special ones, your “tribe”, becomes even clearer.
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