For some businesspeople, branding can be a controversial topic. It is often misunderstood due to its lack of tangibility and associated difficulty of measurement. Of all the tools in the marketers quiver, it’s probably the one that takes the longest to have an effect and as such, results are diffuse and can blend into the noise of other marketing activities. This can result in heavily sales-driven organizations rarely choosing to invest in it because it’s unable to deliver immediate gratification in the form quarterly sales uplift.
Ironically these heavily sales-driven businesses are often the ones that have the most to gain from branding, since too often revenue is linked to personal relationships, rather than the value offered by the business. The resignation of a key sales executive to go to another business or start their own business could therefore have a material impact on the bottom line due to the high degree of brand liquidity – that is when the brand and the sales staff are the same thing. For these businesses, establishing a brand identity that differentiates it from its competitors is therefore a risk-mitigation activity which warrants serious investment.
Branding is also critical for any business operating in a competitive market. Whether you are in B2C or B2B, it is always a human being who makes the final purchasing decision. In B2B, there are often additional stakeholders, each with their own biases and motivations, which influence a purchase. It is at the point in a customer journey, after suitable solutions have been evaluated and a shortlist agreed upon, that branding has the biggest influence. It is the emotional match point which seals the deal.
Branding is the effective communication of a value proposition that is compelling to an audience. It has recognisable and consistent visuals including logos, colours and fonts – which the audience will begin to associate with the value proposition.
Most businesses struggle to articulate their value proposition, and as such, workshops facilitated by experienced branding professionals can be extremely valuable. To develop a brand, there are five key steps to go though:
First define your audience and their common characteristics;
Identify the main problems faced by your audience;
Define your key value propositions in response to these problems;
Define your brand archetype/s; and
Develop compelling & concise key messaging that connects with your audience.
A brand that is consistent with a compelling message will benefit from an increase is trust, recognition and ultimately result in sales uplift and a decrease in marketing spend.
The team at LimeHub offer marketing services custom-designed for your business and never take a one-size-fits-all approach. We have come from in-house marketing backgrounds and therefore understand the frustrations faced by marketers and businesses. It was these very frustrations that led us to create proprietary tools and techniques that solve the challenges of our clients. We will help you accelerate your business performance. Discover more about our services or enquire directly.