Ever wonder what the big brands of the world are doing to be ahead? Beyond the products or services that they offer, this is what’s really affecting their bottom line.
The biggest companies and businesses in the world ALL have something in common. Beyond what they are selling and the impact that they are generating across the globe, the one thing that they all have developed really well, is their branding.
As a branding specialist, I find myself talking to a lot of people about branding. Well, of course, right? It’s clearly my passion and one of the things I do best. People often ask me why they need to make an investment in branding. I mean, I guess you could go on without figuring these things out and the world wouldn’t stop spinning, right? Your business would probably go on. However, I have found that the impact branding has on business can be truly huge. In my experience that is exactly how it has been. Not only for my own personal brand, in which, by the way I talked about how I increased my income by 1000% in 6 months all because of branding right here; but also for my clients. I have talked about why branding is important before, but today I actually want to cover the reasons behind why investing in branding is an incredible idea for your business and why the big guys (think Coca Cola, Starbucks, and Apple) are doing it too. By the way, if you aren’t sure about what branding is and what it entails, I have created a pretty cool 7-day free email course that takes you through the whole process. You can actually sign up for free right here:
thinking of investing in branding?
here’s why you should:
to increase the value of your company
It’s no lie that the biggest companies in the world have incredible branding. And, opposite to what you might believe, the reason why they are the biggest companies in the world is actually because they have built their brands with a clear intention. Your brand is really your companies most valuable asset. It’s intangible and lives in the minds of consumers forever and ever. I mean, think about it, if Coca Cola were to change it’s product or launch something completely different, it would probably survive easily. In fact, it would probably be really successful. However, if you launched Coca Cola without the brand, as in, the exact same product, but without the name Coca Cola, it would most likely fail. Right? Or, at least it would have a really tough time being successful. The reason for that is branding.
In the case of Coca Cola, its brand is actually its most valuable asset. And I know that this example is likely out of your league (and mine) because Coca Cola is a huge brand. But, this same concept applies no matter what your business is.
Actually, there’s a study that show that companies that invest in branding outperform those that don’t in the market. That’s pretty amazing! I can tell you from my own personal experience, that the moment I truly started building my own brand with an intention, was the moment I made a huge shift in my business. I have seen this happen hundreds of times with my clients over the years. Suddenly, they are perceived as a better option. Take Rococoa Café + Bistro. Before they invested in branding their company hardly reflected the value of their products and service. Afterward, it was pretty clear this was a premium, and honestly, delicious place to eat at.
You judge for yourself, which of these places is worth more?
to attract ideal customers
Another really big reason to invest in branding is to attract the right customers. Now, I know what you might be thinking: anyone willing to pay you is the “ideal customer” and you don’t need to attract anymore of that, you just need to attract anyone that is willing to pay. Well, I disagree. You see, in my years in business I have learned that it is crucial that you attract the right people. Who are those ideal customers? The ones that will truly benefit the most from what you offer. The ones who will get a clearer solution to their problems. I have talked about before that in business everything comes down to problems and solutions. People have a variety of simple or complex problems, and it is your job to find solutions for them. So, when you are able to solve those problems and make a big impact on people’s lives, your brand wins.
So, in these terms, branding actually does a ton. First, branding helps you identify who your ideal customer is. Now, believe me, this is actually really important. You don’t want to take money from whomever will give it to you. I have been lucky to have had pretty great clients over the years, but there have been a handful of cases where it has been a nightmare. The reason for that is that I took jobs out of scarcity or lack of clarity. In other words, I took jobs because I needed the money, or I wasn’t clear that these people were the right ones for me. And — sidenote, I get that sometimes we have no choice in taking on these clients, but ideally that’s not the case. Anyways, branding helps you define who specifically will be the right people that will benefit the most from your business.
Secondly, once you have customers that are aligned with your values and responding to your needs, they become your biggest advocates and fans. This means they recommend you to their peers, they share and talk you up everywhere and are willing to pay premium pricing for your business. If that’s not a good reason for investing in branding, I don’t know what is!
By the way, you can actually find out more about how to determine your target audience in the 7-day free email course on branding I mentioned before. You can sign up for that right here:
to determine your unique selling proposition
Another really big reason that you want to invest in branding is to determine your Unique Selling Proposition (USP). Your USP actually is what makes your business completely and totally unique. I’ll give it to you with an example. Recently, I had a new client come to me with this incredible product of a soy based nail polish remover. She had found something similar in England, but was surprised to find that this type of product didn’t really exist in the US. So, she found a manufacturer and simply produced it (which by the way, is amazing! Who does that, right?). Anyways, when she came to me, she had no idea what made her brand different apart from the literal aspect of her product being made with different materials. And yes, that in of itself was pretty powerful. Talking about how her product was non-toxic and didn’t have the awful smell of acetone really helped. However, in order to make an impact, we needed to go beyond that.
So, we focused on something else. I helped her define what truly makes her brand unique and the best way to position herself. In her case, it was about talking about inner strength. You see, that’s what her product is really actually about. It’s for women who do their nails often, but like to take care of themselves as well. It’s about finding your inner strength and confidence. Because quite literally, her products make nails healthier and stronger. So, if when you’re taking care of your nails you’re also taking care of your body, your confidence increases and you feel stronger. So that what we began focusing on.
When you invest in branding, you get total clarity about what makes your business unique. Beyond the obvious, beyond the literal, it’s about finding the most effective ways to make connections.
making competition irrelevant
I actually talked about making competition irrelevant recently and branding has a lot of importance in this too. Okay, so you have been pretty clear on who your audience is and what makes you unique, right? That right there is the perfect formula for making competition irrelevant. In my case, I used to worry about competition a bit. I mean, I would think that there were a ton of designers out there cheaper than me and maybe even with more skills than what I had. Then I realized that what made my clients hire me was actually my story, experiences and skills. While there are millions of designers out there, there’s only one person in the world that is a designer, has lived in Brazil, Spain, US, India and Venezuela, is married to a famous Latin Pop singer, has an MBA, has worked with the specific clients I have worked with over the past 10 years and has my particular personality. Those are the things and reasons why people hire me.
When you combine that with really understanding your audience, competition doesn’t matter anymore. Why? Because thanks to branding, clarity on how to communicate, defining my audience specifically, positioning myself and leveraging my unique selling proposition, your competition is pretty much irrelevant.
Think about that for a moment. Having a business that you absolutely love. Crafting an offer that solves problems for others. Speaking directly at the people that will benefit most from you and positioning yourself as the trustworthy source – while looking amazing in the process. I rest my case.
command premium pricing
If there is still some doubt about why you should be investing in branding right now, let me get to this final point. When you invest in branding you can command premium pricing. That means that your investment is truly that: an investment. So, everything you put into your brand will come back in clients and charging premium pricing. Why can you charge premium pricing thanks to branding? Well, on one hand your company and brand equity is worth more. You are attracting ideal customers who are willing to pay that price. And, by the way, if they’re not willing to pay that price, it means you’re not actually attracting the ideal customer or something else is missing (and branding can help you solve that too). You are leveraging on what makes you unique in order to make competition irrelevant. Essentially, you are solidifying your presence and company as the authority and the best option that’s capable of achieving loyalty and growth for your business.
All in all, branding is pretty amazing for business. I have seen it in my own company and in my clients one after the other. The impact it has on business is invaluable. So, if you’re still thinking about whether or not it’s the right time to do it, let me tell you right now: it is! It’s always the right time. Whether you’re just starting out or have been in business for a while, it’s always a good moment to brand intentionally in order to attract the right people., differentiate your business and make competition irrelevant. What’s holding you back?
If you want to find out more about what branding is and how to build a business that attracts like crazy, make sure to sign up for my free 7-day branding email course right here: