Branding: 3 Tips for your Money Maker
Often times, we don't think branding and marketing has anything to do with our business finances but after having a little chat with Lo Wentworth, we might have a change of heart. I bet you'll also take some of these great tips for your own business.
Let's get this started!
When it comes to branding it can be overwhelming because most people think you just need a website, logo, and a stack of business cards. Which is a good start, but there is so much more that goes into developing a brand, so much more in fact. Developing a brand tends to feel overwhelming for many, as they usually don’t know who to work with or what questions to ask. Often times, just throwing something together does not work.
People don’t buy what you are selling per se, they buy "your why". Your why is your message. It is who you are as a person and business. People want to purchase a product from someone they feel they know already and trust. They don’t want to purchase from someone they just met or feels like a sleazy salesmen or saleswoman. For example, why did you purchase the toothpaste you use? I am guessing price plays into it, but what was it about the packaging or brand, why did you purchase that specific brand over another? It doesn’t just have to be toothpaste, it can be anything you purchase from the clothes you wear to the food you eat, to the person you trust with your finances. Why did you make those purchases? How did it make you feel?
It's important to understand that people buy your why, that's your money maker. Here are 3 quick tips for you:
1) Knowing and sharing your WHY will create a loyal client (long time & repeating), in turn generating sales and recommending you to other like-minded potential clients.
People buy your why. Your why makes you human and relatable. Your why attaches like-minded individuals who will be more likely to buy from you then Joe Smith on the street. Your why for starting your business or creating your product creates an understanding and connects with people. Thus building a relationship instead coming off as a salesperson more focused on the all mighty dollar than customer relationships. A lot of entrepreneurs have trouble with defining their why because it requires them to go inward instead of just focusing on the outward. But going inward and discovering your why will create a connection with your ideal clients/customers along with creating brand loyalty. This is the goal for any business, whether you have been doing it for years or just starting out. For example, Apple is a computer company, but it's why is “everything we do, we believe in challenging the status quo, we believe in thinking differently. The way we challenge the status quo is by making our products beautifully designed, simple to use, and user-friendly.” This is why people purchase tablets, cell phones, MP3 players, etc. Because of Apple’s why and the brand loyalty they create with it. This is your goal and my goal as well, but it illustrates the point of why "your why" is so important when creating your brand. Take the time to go inward, even if it feels a bit uncomfortable, but it will pay off in the long run.
P.S. You don’t need to take my word for it just look up Simon Sinek and Apple.
2) Your why and message gives you a guiding post when making branding and marketing decisions, hence saving you money.
When developing all aspects of your brand, it can be challenging to make decisions about the little details when you don’t have a brand vision or know what your brand message is. There are no guidelines to help you and sometimes you feel like you are just treading water. Just treading water does nothing for your business other than cost you more money and/or struggling to bring in clients/customers. Having a brand vision will help you make decision about what color your logo should be, how your website looks, what feeling your marketing materials need to have, etc. Having a guideline, like your brand vision, helps make your branding decisions with ease because it is like a rulebook for you to follow and go confidently in that direction. Plus, second guessing yourself and indecisions only cost you more time, which cost you money in the long run. Invest your time and money to create your brand vision and message because it will save you money and a lot of heartache in the end.
3) Consistent brand messaging/marketing equals consistent income.
A confused mind does not make a purchase, and if they do they feel buyer’s remorse. Buyer’s remorse is not what you want because it does not create the brand loyalty relationship you desire to have in your business. Keeping your message consistent across all platforms, whether it is in person, or on the web, creates trust in your relationships with your ideal clients and/or audience. Brand trust means loyalty, which means money in the bank. I see it so many times and experienced it myself. When your brand message is unclear and inconsistent no one knows what it is you do and why they should purchase or work with you. Confuse is the kiss of death with starting a business or launching a new product. This is what I know you all want to avoid as much as possible. There will be growing pains, which is expected, but just know your brand is allowed to evolve just like you are as a human. Knowing this, you need to start somewhere with brand message and know you are allowed to gradually change it as your brand evolves. But this won’t be what costs you money after all. What will cost you will be not being consistent and choosing one message in the beginning or when you evolve, because it creates confusion and a confused mind never wipes out the credit card.
This is just the tip of the iceberg when talking about how to create your brand vision, develop relationships with your ideal clients/customers, and being consistent with your messaging. Take your time with each tip and don’t rush through it because it does not do you any favors when trying to do it the fast way.
Those were some great tips! If you’d like to learn more about Lo Wentworth check her out over at lowentworth.com.
Have something you'd like to say? Comment below, Lo and I would love to hear your thoughts!
P.S. Don’t forget to download your FREE Financial Checklist, your step-by-step guide to starting your business or just making sure everything’s in check!