Branding doesn’t just affect the day-to-day and year-to-year success of a business. It can also drive the valuation of a firm when it’s time to sell.
A significant proportion of a firm’s value can be attributed to the strength of the brand and the reputation and position it commands in the marketplace.
Uncover Hidden Opportunities in branding and marketing
In doing the research and analysis that underlies brand building, a firm is likely to uncover opportunities to grow the business and improve operations. Because every company has unique history and circumstances, these hidden opportunities will vary from firm to firm. There are, however, several findings that surface frequently. We list a few of the most frequent opportunities—and ways you can take advantage of them.
# 1 Hidden Opportunity in marketing
Your customers don’t know all that you do.
They know what you’ve done for them, but they aren’t aware of your full range of services. As a result, customers often go elsewhere for services that you offer.
How To Capitalize
It’s not your client’s job to figure out how to use your service to solve their problems.
You have to be proactive. Ask your customers what challenges they face, then tell them how your firm is equipped to help. Your response mustn’t sound too pushy to sales, or you will lose their trust. An appropriate response might begin, “You may not be aware of it, but we’ve helped Company XYZ solve that very problem and here’s how it worked.…”
# 2 Hidden Opportunity
You are confusing your potential customers.
Many professionals paint a confusing picture laced with vague language and technical jargon when talking with potential customers. Many firms talk about themselves this way on purpose because they don’t want people to view them as limited in any way. However, their potential customers are left with nothing to latch on to—little understanding of the firm’s expertise, capabilities, or experience. They have no reason to buy.
How To Capitalize
The clarity in branding and marketing = $
Develop a clear and easy-to-understand message, and you will attract clients that appreciate those things you do best. As you prepare, keep one thing in mind: the more you leave out, the sharper the message. The more pare away, the more you can emphasize true strengths.
# 3 Hidden Opportunity
You understand what your clients tell you they need, but you probably don’t know what they, in fact, want.
Sometimes needs and wants are very different. Clients’ desires are often motivated by emotions. Suppose, for example; a client needs a new IT infrastructure. However, what they want may be the confidence that their problem is being solved so they can stop worrying about it.
How To Capitalize on marketing
Give them what they want. Include what they need.
Yes, it would help if you addressed the need. But if you can
understand and address a client’s emotionally-driven desires, you will have a definite competitive advantage. A well-executed brand appeals to clients’ emotions.
Hidden Opportunity # 4
Some of your most loyal clients don’t want to work with you.
Longevity doesn’t necessarily indicate enthusiasm. Some long-term clients feel locked into an unsatisfying relationship. A sense of obligation, inertia, or the hassle of finding a new vendor keeps these clients around. These relationships often require a lot of maintenance and typically produce low profits.
How To Capitalize
Get an outsider to ask the questions — because your unhappy customer may be reluctant to tell you.
Unhappy clients may fear to make the situation even worse, or they may dislike confrontation. Once you understand the issues, you can fix them or find a low-pain way to end the relationship.
A company can survive without branding. But branding isn’t about “survival/surviving.” It’s about “thrive-al/ thriving”-building brands for the future- creating a lasting emotional connection with customers that fuels reputation and growth for years to come.
The absolute creative team is a highly expert branding agency to help you grow your business step by step from branding identity, brand strategy, marketing plane, marketing strategy, implementations in all of the firm’s aspects.