In today's competitive market, it's crucial to establish a strong and distinct brand in order to stand apart from the crowd.
Here's three stats that might help you see the importance building a brand:
Consistent presentation of a brand has been seen to increase revenue by 33%. (source: Lucid Press, 2019)
46% of surveyed consumers say they would pay more for brands they trust. (source: Salsify, 2022)
It takes about 0.05 seconds for people to form an opinion about your website, or social account. (source: 8ways, 2019)
As a consumer with an eye for design, these stats don't surprise me at all! However, I completely understand how nuanced "branding" can feel to the everyday person.
Often, we first think of logos when it comes to branding but instead we should be focused on brand strategy far before thinking about graphics. So let's go over eight reasons why your small business might benefit from having a brand strategy!
1. Creator Clarity
A brand strategy will create clarity and focus when decisions need to be made within messaging, marketing, and visual content. Actions taken after understanding the bigger picture will be intentional and productive.
2. Differentiation
A brand strategy helps small businesses stand out from other similar options available to potential clients because its unique value will be defined and easier to promote. Brand strategy allows small business owners to communicate what sets them apart and why potential clients should choose to do business with them versus finding an alternative
3. Consistency
A brand strategy provides a basis for creating consistent messaging, visuals, and customer experience. Brand consistency builds trust and familiarity among ideal clients, making the business more memorable and shareable.
4. Target Marketing
A complete brand strategy helps describe ideal clients and how business owners can understand their needs, preferences, and aspirations. This knowledge allows the business to tailor its branding and marketing efforts effectively, ensuring they resonate and connect with the people who will support it!
5. Emotional Connection
A strong brand strategy creates connection with potential clients through visuals and storytelling that align with the needs, desires, and lifestyles of their ideal clients. This connection increases inquiries, referrals, & repeat business.
6. Premium Pricing
A well-crafted brand strategy can support premium pricing. When a small business effectively communicates its unique value proposition and builds a strong brand reputation, customers are often willing to pay a premium for the perceived quality and value they associate with the brand.
7. Employee Engagement
A strong brand strategy helps align employees with the company's vision, mission, and values. When employees understand and connect with the brand, it boosts their morale, engagement, and productivity. They become brand ambassadors, consistently representing the brand in their interactions with customers and stakeholders.
8. Brand Recognition
Utilizing an actual brand strategy will help build recognizability. Your brand will become the familiar face of your business that , when implemented consistently, viewers will begin to connect with even on a subconscious level.
Investing in brand strategy is a great decision for every small business owner. Developing clear and focused brand values, brand vision, and brand messaging for starters, will not only create clarity for creating consistency on your end as the business owner, but it will also continuously build trust among your target audience and create a lasting emotional connection with potential clients.
Moreover, a strong brand strategy supports premium pricing, boosts employee engagement, and enhances brand recognition. Don't underestimate the power of strategic branding – it has the potential to elevate your small business and bring in loyal consumers that will organically market for you!
You can book a brand strategy session with me if you're hoping to create clarity for yourself (and your team or virtual assistant) and you'll receive a comprehensive brand bible to guide you as you grow.
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