Why should you cultivate your business’s brand? What qualities of a brand should you work on building?
To cultivate your brand, build trust with customers through consistent quality and messaging. This allows you to charge premium prices for your products and services, as customers are more willing to pay more for the perceived value and reliability associated with strong brands.
Continue reading to learn how to develop your brand to increase sales.
Developing Your Business’s Brand
Hamilton Helmer explains that competitors struggle to replicate the trust associated with established brands, as this trust stems from years of consistent, positive experiences that foster customer loyalty. This sense of loyalty creates a bond that compels customers to stick with the brands they know and trust, even when competitors offer better or cheaper options.
(Shortform note: In contrast, marketing professor Byron Sharp (How Brands Grow) argues that the majority of consumers don’t care whether you learn how to develop your brand or not. This is due to over-saturated markets: There are simply too many brands trying to distinguish themselves and appeal to consumers. To cope with this influx of information, consumers completely filter out all of the brand messaging they encounter. So, even with consistent quality and messaging, there’s a chance that your attempts to build trust will get blocked by your audience’s mental filter.)
How to Cultivate Your Brand
According to Helmer, the following five methods can help you cultivate your brand:
1) Align with customer values: Cultivate an identity that resonates with causes your target customers care about. This helps create an emotional connection that makes your brand both memorable and appealing. For example, if flexitarians value sustainability, emphasize how your business uses eco-friendly packaging and sources ingredients from environmentally responsible suppliers.
(Shortform note: Marketing experts confirm that businesses boost brand awareness when they contribute to causes their customers care about. According to market trend reports, 63% of customers want to buy from socially responsible companies, and 54% of customers want to buy from companies that prioritize diversity, equity, and inclusion in their communities and workplaces. Generate ideas for cause or community-driven marketing campaigns by polling your target market about what matters most to them. Then, look for local charities or community programs that align with those issues and determine ways to help them. For example, arrange for team members to volunteer there or donate a percentage of your profits for new projects.)
2) Reinforce your identity: Invest in multi-channel branding to create a strong, recognizable identity and increase recognition. For example, develop a cohesive visual identity and messaging strategy that carries through your product packaging, website, social media presence, and advertising campaigns.
(Shortform note: While reinforcing your brand identity can increase recognition, one drawback is that you’ll find it difficult to reposition your place in the market or reframe your marketing message. This is something you may need to do if you introduce your product or service into different markets or customer groups. For example, Coca-Cola’s distinctive branding worked against them when they attempted to open a wine business in 1977—customers were so used to perceiving them as a soft drink business that they couldn’t imagine them as a wine supplier.)
3) Be consistent: Ensure your products and services always meet the quality standards you’ve promised to reinforce customer trust in your reliability: For example, ensure every batch of your plant-based meat substitutes meets the same high standards for taste, texture, and nutritional value.
(Shortform note: In addition to reinforcing trust, consistency also ensures customer satisfaction, positive reviews, and a reliable source of revenue. Blanchard and Bowles (Raving Fans) explain that customers form expectations based on their past transactions with a business—and they expect future transactions to be just as good, if not better. This means that inconsistent businesses risk disappointing and losing their customers.)
4) Protect your integrity: Preserve customer trust in your brand by evaluating how potential offerings or associations might impact your reputation. For example, carefully vet potential partnerships or product extensions to ensure they align with your brand’s core values and quality standards.
(Shortform note: Al Ries and Jack Trout (Positioning) clarify why it’s important to consider how potential strategies may impact your reputation. Your brand name represents the collective essence of everything your business stands for. Thus, the more your brand gets associated with diverse products and companies, the harder it is for a customer to identify exactly what your brand stands for, and so the weaker your market position becomes. Therefore, it’s worth ensuring that new offerings or partnerships reinforce—rather than dilute—your brand identity.)
5) Evolve to stay relevant: Adapt to changing consumer preferences while maintaining your core identity. This prevents your brand from becoming outdated while preserving the brand image you’ve established. For example, if health-conscious consumers become more interested in protein content, adjust your product formulations and marketing to highlight the high protein levels in your plant-based meats without compromising your eco-friendly practices.
(Shortform note: Al Ries and Jack Trout (The 22 Immutable Laws of Marketing) suggest a way to adapt to changing consumer preferences while maintaining your core identity: Use a different brand name for entirely new product or service categories—for example, if you’re a cat food company that intends to sell avocado oil. They explain that customers know what to expect from your brand based on how you market your core product. When you change your offer, your customers no longer know what to expect from your brand, and this can cause them to turn to competitors with more familiar alternatives. Introducing a new brand name enables you to tap into consumer trends while minimizing the risk of confusing or alienating your existing customer base.)
