Attract More Customers to Your Business with a Strong Brand
Want to attract and retain more customers? Build a strong brand. A strong brand sets you apart from competitors, helps you attract and retain customers, and helps you scale your business quicker and easier with fewer mistakes. If you don’t know the value you offer, the perfect customer for that offer, and how to grab their attention –you are wasting money, time, and opportunities.
A strong brand offers many benefits to different audiences but one of the most compelling reasons to invest in developing a brand strategy is to increase sales. When you can tell your brand story clearly and in a way that is relevant to your target audience, you will ignite your growth. You will sell more.
There are many benefits that come with having a strong brand. A brand is a strategic tool that gives your organization focus, clarity, and credibility. By staying focused, having confidence, and upholding a powerful reputation with your customers, it becomes easier to attract the right customers. A strong, healthy brand is attractive to the right audience. Without a strong brand, customers become confused and move on. This is why you need to be crystal clear in your messaging and make sure that your brand is communicated correctly and effectively. But branding isn’t only about attracting new customers. strong brand generates more customer loyalty because people like to do business with companies they know and trust. If they know and trust you from a previous experience, they are more likely to purchase again and refer you to others.
But first, let’s define what a brand is, so you know you are working on and investing in the right strategic exercise to build your business.
What is a brand?
A brand is the culmination of communications and experiences that a person receives from every contact with your organization. Your stakeholders form a perception about your organization in their mind after interacting with you. The way people perceive your brand determines the success or demise of your business. To be successful, you need to strengthen that brand perception with clear, consistent communication and by delivering on that promise every single time.
Because the brand resides in the mind of your stakeholders – customers, employees, referral partners, Board members – you don’t “own” your brand. The best you can do it manage it.
How do you manage your brand?
So from a brand management perspective, your communications make a promise of what it will be like to interact with your organization. If the communication is compelling, they will give you a try. But to be successful, you must then deliver on that promise. This is why for a robust brand strategy you need to not only look at what you say to customers, but what experience you give them as well.
Note: Don’t think that you don’t have a brand. I’ve had clients tell me that they don’t have a brand because they really don’t do any advertising. The minute you talk and interact with someone, a brand is forming. People have an innate need to slot people and organizations they meet or interact with in their brains, so that they can recall them later. f you don’t define your brand, someone else will. And, you may not like their definition.
How does a strong brand attract/ retain customers?
Increases brand recognition. A strong brand allows you to grab attention and be irresistible to the right customers. The marketplace is crowded with so many channels, messages, and competition. Customers are busy, overwhelmed with options, and craving relevance. So, you need to grab their attention. However, it starts with a solid foundation, clear messaging, and consistent delivery.
Differentiation. Your brand differentiates you from your competitors. Clear differentiation helps customers make decisions on the best solution to their problem – they can see the value and compare options. If you can’t clearly state how you product or service is different and a better fit than a competitor’s, then you will struggle to sell more.
Improves Customer Loyalty. When you attract the right customers to your brand with messaging that resonates with them, and then deliver the value you promised, you get repeat business. It gets them to come back for more. In the long run this helps your company’s bottom line because it costs 5 times more to acquire a new customer than to sell more products to an existing one.
The trust and relationships you build with your clients are what allow you to retain loyal customers and keep money flowing into your company. Since 60% of your revenue should come from existing customers, this is an important KPI to track for profitability. Ideally, if you fulfill your brand promise, you create raving fans to refer you to others. Then you don’t have to spend as much on marketing and building awareness. Your customers will help do that for you.
Lower Price Sensitivity. Customers who love what you do are less price sensitive. They will pay a premium to work with you because you deliver and make their life easier. They also are more forgiving if you make a mistake. They won’t abandon you for a competitive offering because they are happy with their product or service today.
Attracting more customers leads to more sales and retaining customers leads to increased profitability. When you can tell your brand story clearly and in a way that is relevant to your target audience and you deliver the benefit you promised, you will ignite your growth. If you struggle to create messaging that attracts and aren’t sure if your customer experience creates raving fans, it may be time to call in a brand strategist.
If you want to chat about how to leverage your brand to ignite your growth, give me a call today at 847-963-1805.
You may also like: