Branding is one of the most significant aspects of any business, whether large or small, wholesale and retail. A brand strategy that works gives you a considerable edge to be continuously competitive in the market. But the million-dollar question sinks in: what exactly does “branding” mean? Furthermore, how crucial is it, and does it affect a business no matter how small?
One thing is for sure: your brand is your promise to your customers. It serves as your commitment to meeting or exceeding customer expectations to keep them coming for your services. Your brand informs people what they can expect from your products or services, and it ultimately sets you apart from your competitors.
More specifically, your brand rises to the surface as it manifests who you are, who you aspire to be, and the people’s perception of you. Can you imagine how a business would stand without a “brand”? This monthly Growth99 newsletter will discover how a business is incomplete without an established and well-founded brand that works powerfully behind the scenes.
Build not just any business but a brand
Once upon a time, starting a business appeared like a dim and unattainable mission reserved only for brave souls. But now, things have dramatically changed. The barrier to entry for initiating an online business has lowered radically, and opportunities for entrepreneurship have become prevalent as it continues to rise around the globe. As a result, more employees are jumping ship from their 9-5 jobs to establish their businesses, and this shift is not slowing down any time soon.
But, while it’s excellent to be able to sip a cocktail by the beach as you work from your laptop on a sunny day, the job of establishing a profitable business is never easy. That primarily depends on whether you are structuring a business or a brand. There is a vast difference between initiating an organization that merely sells and creating a brand that infuses the world with a value that lasts for years.
The icing to the cake
To attain a lasting impact, your company needs to have a strong voice, and it has to be bigger than what you’re selling. It stipulates a long-term vision, unshakeable values, and a story that influences and moves your audience to action. That is, of course, aside from the robust quality of the products and services you offer, making people’s lives better and more convenient.
If you’re planning to build something that motivates you to get out of bed before sunrise, mirrors your values, brings in customers regardless of what you’re selling, gives you flexibility in your current lifestyle, and changes people’s lives, then you need a brand. Without it, your business won’t last for a long time as more and more people nowadays put their trust in something that’s proven effective by others. A solid brand is more fulfilling and powerful than merely owning a business that you pour your whole time into for financial return.
Pro tip: Do your research while learning your existing and prospective customers’ desires, habits, and needs. Don’t solely assume that you think the same thing they do. Instead, discover what they honestly think.
Defining your brand
Defining your brand equates to a journey of self-discovery in business. Indeed, it can be time-consuming, complicated, and uncomfortable. Yet, the fulfillment that goes with it can be worthwhile. Here are some questions that you need to assess to achieve a distinguished brand for your business:
1. What is your company’s mission and vision?
2. What are the benefits that your customers can get out of your products and services?
3. What do people, especially your prospects, already think about your company before signing up for any of your offers?
4. What are the qualities that your products and services have that make them stand out from the rest?
The true winner
Creating a brand that isn’t only popular but leaves a mark on every person using it is what every business needs. Selling something doesn’t make a business; impacting the lives of the people does. So, if you are a business owner, no matter which scale you fall under or whether you are a pro or an amateur in your chosen field, never miss out on building your brand to its peak. Only then will you know that your business is truly a business as the brand that you made paves the way to your success.