Building a strong brand is essential for bringing in new business and keeping existing clients in the highly competitive business world of today. Your brand is more than just your company’s name, logo, and colour scheme because it serves as the distinctive identity of your product or service. It also includes things like your brand promise, company principles, social media voice, and more.
It’s important to get them right because a company with a strong brand can fetch a greater price for its goods or services, remain competitive in their sector, and boost client retention. So how can you develop a brand that people adore?
1. Identify—and Communicate
Determine your brand’s values and mission and communicate them.
A distinct sense of goal or purpose can help your business make decisions and set itself apart from rivals. Additionally, it may aid in luring in like-minded clients and workers. The finest brand evangelists, in my observation, frequently match with the company’s core beliefs. One of the biggest beverage businesses in the world was not having to pay for influencer marketing efforts, according to the CMOs I spoke with. This is because influencers voluntarily chose to support the brand because of its principles and goals.
Say your goal is to increase the accessibility of financial services to younger consumers and other novice investors. Think about your company’s distinctive qualities and what makes it stand out from your competitors as you develop your brand’s values and goal. You might have financial advisors who can offer recommendations that inspire confidence in beginning investors and translate complex ideas into simple terms. Your website might be jam-packed with educational material that encourages users to make their own investments and lessens the fright associated with the stock market.
Use the language and content of your marketing materials to reflect your brand’s beliefs and mission. Wall Street lingo isn’t relevant to your goals and principles. Speaking in words that your clients can comprehend and addressing them as a self-assured but approachable friend will help.
Internal and external communication of your company’s mission and values are both crucial. Your staff will be able to match their work with these values if you do this. Employee commitment to your company’s purpose of democratising financial literacy can affect everything from the inclusive text your marketers create to the kind demeanour of your customer support representatives.
2. Give customer satisfaction first priority
Building a solid brand reputation requires providing exceptional support. It’s not particularly complicated: Happy consumers are more likely to refer a business to others, while unhappy ones will trash you on social media. I’ve always highlighted the value of taking pride in your work with whatever firm I’ve been a part of. I’ve seen a noticeable difference in the loyalty of employees to businesses that place a high priority on customer service. Because it can boost their sense of self-worth in their roles, employees seem to have a natural desire to generate value for others.
Of course, the first step in ensuring customer happiness is to provide the goods or services you have promised at the price agreed upon. Better yet, if you can accomplish this with unusual friendliness or quickness. In spite of this, maintaining client happiness requires ongoing effort because errors are unavoidable. Your staff members are merely human, and your company is just like any other one vulnerable to the whims of the global supply chain.
It’s critical to respond right away to client questions and concerns when difficulties occur. Customers value prompt responses since it demonstrates that you respect their time. While chatbots are accessible 24/7 and capable of resolving a variety of small consumer issues, make sure to provide clients with a variety of ways to contact your business. Giving clients access to email, phone, web, and social media channels can make it easier for them to contact you. This enables individuals to select the means of communication with which they are most at ease.
Finding a prompt, satisfactory resolution that satisfies the customer should be your aim in these discussions. Customers will trust and be loyal to a brand that would go above and beyond to resolve their issues and make them happy.
3. Promote trust by being open
The foundation of any customer relationship must be based on trust since consumers are more likely to do business with organisations they believe in. It entails being open and honest about your company methods. For example, if you’re a manufacturer, being transparent about your material sourcing is important. You can support this by obtaining the responsible sourcing certification for your sector; there are certifications available for everything from agricultural items to concrete.
Customers also want you to be open and honest about any potential shortcomings or limitations of your goods or services. Tell them if a game-changing feature is in the works, but don’t assert that you already have it. Additionally, you ought to be transparent about your data usage practises and privacy rules. If customers are convinced that you are utilising and storing their personal data responsibly, they are eager to share it in exchange for better service. Customers can make informed decisions when you are transparent because they know they are getting the whole story.
Pricing is one of the most important things to be open about. My sales teams are subject to a rule that requires them to discuss pricing over the phone or in person, in writing, and in the agreement. There are three levels of pricing transparency. Included in this is the disclosure of any fees or other costs that might be related to your goods or services. It also entails providing customers with straightforward and understandable pricing information. Transparent pricing will not only increase client trust, but it will also lessen the chance of misunderstandings or irate customers. Consumers are considerably more likely to return—and tell their friends—when they receive value for their money and are aware of how much that is.