No Brand Strategy? Your Business is Losing Money

All brands are businesses, but not all businesses are brands. What’s that? Even though your brand is how other people see you, when you don’t take time to define how you want to show up, you risk someone else defining your business. To that end, any business operating without an established brand strategy is missing segments of their market and leaving money on the table. 

So what is branding and brand strategy anyway? Branding is the process of creating a distinct identity for your business your target audience recognizes,… and maybe even the general public. Building your brand strategy starts with defining goals and then determining the best ways to present your brand to align with how you want your audience to perceive you and meet those goals. 

Why is that important? 

Your brand also sets the stage for how you communicate the value you offer, to your ideal audience and the world at large. It’s also a promise to your audience, and what they can expect from you. In a nutshell,  it’s your strategy for growing the know-like-trust factor with your audience, improving recognizability, and increasing your sales. Or it should be. 

You probably already know that branding is an essential part of communicating with your audience, but did you know it can make onboarding and training your team cheaper, faster, and easier? 

If growing your business this year is part of your overall business strategy, a strong brand strategy is the best place to start, whether you’re setting out to increase sales with your existing audience, grow your team, or find a new audience.  On the flip side,  businesses without a brand strategy are more likely to struggle to reach and connect with those they serve and justify their expansion. 

Today we talk all about what it means to brand your business, and why implementing a brand strategy means you get to work smarter, not harder.  

How do You Define Your Brand?? 

Your brand is actually largely out of your control, which is less scary than it sounds. Your brand is actually about how you are perceived by the market, which is why investing in your brand strategy upfront is so critical for long term sustainability and success. A well planned and executed strategy allows you to maintain a certain level of control over how your brand is perceived out in the world. 

Branding is the process of forming your brand’s identity. Before you can create design and messaging elements, you have to define who you serve and how—and what sets you apart. 

While the word “branding” often brings to mind visual elements like colors, logos and fonts, it also encompasses how you talk about your business, or your messaging. Your messaging communicates your brand promise and signals your brand’s position in the market, differentiating you from your competitors.

Strong branding means you are readily recognizable outside your target market. When the general public recognizes you, you’ll be top of mind when they need you. It also means they have the opportunity to recommend you to people in their life they know could benefit from the solution you offer, even if that’s not them. People love to be the ones to offer “the solution”, it’s human nature. Pointing out the right solution for someone in need is highly satisfying and motivating. 

So strong branding means even if they’ve never bought from you and never worked with you, they know exactly who you are and what you do, so the next time someone is talking about the problem you solve, they will be all too happy to offer you up as the solution to that problem. 

What is Brand Messaging? 

Your business has stuff to sell. 

Your brand has a story to tell. 

And believe it or not, telling your story helps your business sell more stuff. 

Brand messaging is how you talk about what you do, who you serve and the problems you solve through your products/services. And it’s the magic that makes clients and customers stand up and say they want to get behind what you do. When your audience is familiar with your story, whenever they come across your messaging, it will feel similar to coming across a clip from a favorite show or movie. 

The bottom line? Invest in your brand messaging, get more conversions. Strong brand messaging gets the right people paying attention, and when the right people are paying attention, conversion rates go up. 

What is the Best Way to Grow Your Brand? 

Growing your brand begins with taking an intentional approach to brand strategy. 

Brand strategy helps you identify your brand promise, your brand purpose, and your brand’s position in the marketplace

Next comes your brand’s story, the emotional reason your brand started, how it started, where it’s been and where it’s going. Don’t think your brand has a story worth telling? I promise you it does, and working with a copywriter could help you tell it in a way that resonates with people, no matter how dull or unimportant you think it might be. 

Branding is your business personified, so be sure to establish your brand personality, voice, tone—think of a person. They have a distinct personality, a recognizable voice, and while that personality and voice are pretty consistent, the tone they use changes depending on where they are, who they’re talking to, what they’re talking about    

Following branding best practices starts with establishing your brand strategy, which will inform everything else you do: your marketing strategy, your sales strategy, your training, reporting, and more. 

Reasons to Invest in Brand Strategy

  • Create a distinct identity so you are recognizable where and whenever you show up
  • Better communication with your team: employees and team members understand better what they do, why they do it and most importantly, how to talk about it 
  • Build and nurture relationships with more than just your target audience: take advantage of word of mouth marketing and cultivate relationships with people who don’t need you now, but might in the future
  • Benefit from higher perceived value by customers and investors: as humans, we learn and relate best when there is a narrative to follow, your brand story is how you maintain some control over your brand once  

Is your business operating without a clear brand strategy? Have a brand strategy but not sure what it means to implement it? Want to know more about how to use brand messaging to tell your story? Let’s talk about a custom solution that makes sense for your business. 

Nailing these elements builds a solid foundation that drives your sales, makes marketing easier, and attracts the best fit talent to your teams. Ready to build on that foundation? Contact me to get started!

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