Why Is A Business Brand Important?
Why Is A Business Brand Important?
We are lucky to have so many choices of products, services, and locations where we can buy them (online and offline), and companies that we can buy them from today. However, we are always attracted and drawn to certain products, services and companies over others. We repeatedly look forward to buying certain brands’ latest products. Why is that? It is because we love the brand.
A business needs to build a brand if it wants to be successful in the market today. Branding helps with instant recognition, differentiation, and setting product or service expectations based on the company’s identity, mission and values. It also fosters trust, greater customer loyalty, higher perceived value, and better credibility, and increases the chances of attracting top talent.
So, you may be wondering, how do I create a brand? Let’s discuss that next.
8 Ways To Create A Magnetic Brand
One of the best brands you can create for your business is a magnetic one so that you do not have to constantly chase and fight for customers in the crowded market. People will be drawn to your business and will buy your products and services over others.
Generosity is one of the best ways to have that attractive quality to your business which then puts the law of reciprocity into play for you. The more value you help and give your potential customers, the more successful your business will be and the more people will buy from you. Let’s discuss some ways that you can create a magnetic brand for yourself.
Donate A Percentage Of Profits
Start donating a percentage of business profits to one or more charities of your choice. You do not have to be a millionaire to start donating money. Make it a habit to do that at any stage of your life and business. You will have prosperity chase you and you will be able to give more money abundantly and never ever run out. You will become your creator’s trustee, be responsible to let the money flow through you to the people who need it.
Provide Relevant Value
Take some time to research and figure out what is it that your customers need, resonate with, and offer that as free value by making relevant, consistent content on your platform of choice. Engage with them by asking them questions and answering their questions. The more you get to know them, the more you will be able to cater your free content, products, and services to what they need and you will be able to serve them in a bigger and better way.
Participate In Giveaways
Participate in auctions, giveaways, and give some of your products, and services away for free. You can also make it a practice to periodically to give away your product or service for free to people who need it but cannot afford it.
Go Above And Beyond
Always deliver the promise made by your company and also strive to go above and beyond with your potential customers and customers in every interaction with you. “Wow” them and give them extra bonuses and value that they were not expecting to receive.
For example, hand out free samples, if someone gives you their email address or when they buy from you give them an extra worksheet, audio, video, mini-course or exclusive content that you recorded just for your email list or customer and give them a better experience with your generous brand.
Collaborate With Your
Collaborate and be generous with your competition because there are more than enough customers out there for everyone. People that you are meant to serve will resonate with your message over anyone else’s. Most people, including myself, also follow, consume and buy from more than one person per topic of interest.
Focus on what you do best and be willing to refer clients that you cannot serve to your competition so that everyone can be served in the way that they deserve to be. Remember you are not the only one with a particular purpose, there are several people with the same cause. How you serve them is unique to you.
Provide Excellent Customer Service
Survey, follow up, listen to your customers, and have an ongoing dialogue with them so you can serve them in the best way on an ongoing basis and not get irrelevant and forgotten as a brand. Make it a mission of every member of your company at every level to serve and always strive to provide excellent customer service.
Always aim to overdeliver on the promises that you make. Be transparent, apologize, own, and rectify the mistakes that were made by your company regardless of who made that mistake. Make your customers feel heard, understood, seen, accepted, and appreciated.Encourage Volunteering
Encourage Volunteering
Make volunteering part of your company culture. You can choose a day where members of a particular department volunteer at a place of choice or each person can do a certain number of hours of volunteering in a year at a place of their own choice.
Create A Giving Back Campaign
You can also create different campaigns as a business to raise funds for a charity, food, winter attire, or toy drive on a quarterly or yearly basis. Speak to different non-profit charities in your area like women’s shelters to generate ongoing ideas on specific campaigns needed for your neighbourhood.
In conclusion, you now know why a business brand is important. A business needs to build a brand if it wants to be successful in the market today. Branding helps with instant recognition, differentiation, and setting product or service expectations based on the company’s identity, mission and values. It also fosters trust, greater customer loyalty, higher perceived value, and better credibility, and increases the chances of attracting top talent.
You also learnt how to create a magnetic brand with generosity so you are not chasing potential customers, instead, they are attracted and drawn to your brand and are eager to do business with you.
You can create such a brand by donating a percentage of your profits, providing relevant value to your customers or potential customers, participating in giveaways, going above and beyond with customers, providing excellent customer service, collaborating with competition, encouraging volunteering and creating giving back campaigns throughout the year.
Next, read what is meant by generosity to learn the benefits of incorporating generosity in your business to help you in your journey of creating a magnetic business brand.
Best of luck with your generous business journey!