Growing your business is what marketing is all about. But how do you really grow your business? And is it really just marketing and getting the word out, or can it be something even more? We believe that a better term for marketing is brand management.
Marketing and brand management may seem like the same thing but there is an important distinction between the two. Marketing focuses on promoting products and services while brand management focuses on telling your story to reinforce brand identity and build brand equity with your loyal customers.
Telling Your Story
While marketing can promote products and build business value, we feel it is just as important to focus on telling your brand story and communicating your company values in a way that builds brand loyalty and brand equity over time. By working your brand story into all aspects of your marketing initiatives, you not only are able to sell more products and services, but you are able to build your brand image as well.
Defining A Brand Strategy
How does one develop a brand story? It all starts with a comprehensive brand strategy or long-term plan for the development of a successful brand in order to achieve specific business goals. A brand strategy is the how, what, when and to whom you are selling your products and services, and is closely tied to consumer needs, emotions, and the competitive marketplace.
Every successful brand is built around a central, compelling idea. For example, Apple doesn’t just sell computers, phones and music devices; it sells well-designed products that are easy to use. Are they the best computers on the market? Maybe or maybe not, but Apple sells a lot of them at twice the price as their competitors simply because of the brand stories that Apple uses to position its brand in the marketplace. Brand management goes beyond advertising the product, it’s about selling the problem you are solving.
Telling Your Brand Story
There are many ways to tell your brand story. Here are just a few ideas to get you started:
- Product or Service Story
- The story of your product or service, what makes it uniquely different and why consumers should fall in love with it.
- Leadership Story
- The story of your companys influence in the marketplace. This may be due to innovative products and services or thought leadership in the marketplace.
- Culture Story
- The story of your business values and the culture of the people who work there. A culture oriented story can inspire both the workplace and customers who identify with the values of your business.
- Community Story
- The story of how you connect and interact with the community. Every brand works with a range of communities either through sponsorships or other outreach activities and these stories will resonate with your audience and build brand loyalty within the community.
- Ethics Story
- The story of how you work and the values that guide your work. More than ever, consumers identify with businesses that they trust. By promoting your ethics and values you will build your reputation with consumers.
Are You Ready To Grow Your Business?
We think of marketing as brand management. That means for every online ad or social media post we develop, we keep your brand story front and center. Contact us today to learn more about our brand management services that connect with consumers on an emotional level and build brand loyalty over time.