I get asked all the time, “If branding is all about results, does that mean it is all about the bottom line?”
Not necessarily, it just happens to be that the bottom line is one of the top concerns for a lot of business owners and executives. But there are many results that should matter to companies and Brand Champions, beyond just their bottom line. Let’s take a look at other results that companies should strive to achieve:
1) Providing great brand experiences, making customers happy, and gaining long-term clients. I hear it all the time from business leaders that they want to make sure they are providing great brand experiences to their customers. All of us need to make sure we are doing this and maintaining the valuable brand reputation we have worked so hard to create!
2) Buying customers and gaining market share. I have plenty of clients where their strategy is to add customers, gain market share and beat the competition to affects the bottom line. Not too long ago I had a cell phone company as a client that was essentially “buying customers and market share” by helping to finance/underwrite cell phone purchases and voice/data and text plans hoping to buy market share and long term recurring revenue. For them and other companies, this strategy can be just what they are trying to accomplish.
3) Building up your user or customer base. Just like Facebook, Twitter and other websites, building up your user and/or customer base before you start charging for usage, content, information or advertising revenue is a common brand strategy. This has become the standard app strategy these days, it requires much more start up capital to be able to finance a brand strategy, but it certainly is a valid one.
4) Branding for Beta testing of new products, apps or software launches. In technology, we see a lot of brand packaging around a development of new apps, software, products trials to gain valuable feedback, testing and early adoption of cutting edge and sometimes ahead-of-the-curve ideas. But branding and testing of these new ideas and technology has become a very big part of branding.
5) Branding to announce a new position, evolution or expansion of a company’s line, products or services. We work with a lot of emerging companies and Private Equity firms and we see this all the time. Re-branding, positioning and helping companies to evolve as a firm that are offering new and revised product or services is a great result to pursue.
6) Using LinkedIn, Twitter and YouTube to become become an expert. Is this really true? No, but it can sure feel that way. Nowadays people use branding to promote themselves as an author, speaker, rapper, model, online marketing expert…I see just about anything these days.
Whether you are trying to drive revenue, your bottom line, or one of the aforementioned results, strategic branding can help you to achieve the desired goals and objective. Take the reigns and proactively brand and position your company or organization to achieve the goals and objectives you are trying to obtain.