Branding might seem like a luxury, but it is an engine for sustainable revenue growth. When you have a powerful brand, your customers have a deep, gut sense of what your business stands for. And they will think of you whenever they (or their friend) needs your type of product or service. A strong brand is a key ingredient to converting first-time customers into repeat customers, and converting repeat customers into eager referral sources.
Here are 5 keys to creating a strong brand (and related traps to watch out for!). How does your business stack up on each of these dimensions, and what can you do to strengthen your brand?
KEY #1: UNIQUE
Your brand should stand out from your competitors’ brands. Are you “just another coffee shop”? Or do you have a point of view that makes you stand out…and makes you memorable!
KEY #2: COMPELLING
A strong brand emotionally influences your customers. They feel a connection to your business that goes beyond the product or service offering. If you’re worried that your industry isn’t sexy enough to do this, don’t worry! A great way is to tell the story of your business. Why did you start this business? What experience are you working to deliver to your customers? Create the emotional “hook.”
KEY #3: CONSISTENT
From the time someone first visits your website–to the time they finish their transaction with you–do they have a consistent experience? Are colors, fonts, and terminology consistent across media? Does the tone of your website match the way your employees talk to people on the phone? Consistency continually reinforces your brand in your customers’ minds.
KEY #4: VALUES-DRIVEN
Customers should know what your business stands for. Healthy eating? Convenience? Great quality? Fun times with friends? Think about what your business values are, and make sure they are infused throughout your operations. Done effectively, customers will know without your telling them (although it doesn’t hurt to mention your values in your marketing).
KEY #5: ACCURATE
At the end of the day, your business had better deliver what your brand is promising. Sounds obvious, but how many times have you been disappointed with your experience of a company? The best companies frequently reevaluate: Do customers receive what we promise (tangibly and emotionally)? If not, adjust the promise or adjust the offering so they match.
Action Plan
Do a quick brand audit using these 5 keys. In what ways is your brand a powerful tool to drive customer loyalty? Where is there room for improvement?
Write down 3 action steps to strengthen your brand, and when you will complete them by.
Let me know how this goes by posting a reply below!