Last updated on April 9th, 2024 at 04:15 am
Do you want to boost sales? If yes, then start with brand building. While many businesses focus on marketing efforts to close more deals, paying attention to increase sales through branding delivers consistent results. Read ahead to know how to build a strong brand along with some unconventional brand building strategies that promote sales to boost revenue all year round.
Branding, Sales and Marketing: Know the Difference
Traditional business models have always focused on sales and marketing. However, modern-day teams have realised the need to integrate branding efforts into the existing approach to develop healthy, thriving businesses. Let’s read on to understand the difference amongst the three.
Branding: It involves signals that inform people about your business. It covers the distinct identity of your company, including the logo design, graphics involved, and colour palette used, amongst others. For example, Apple’s minimalistic approach in its ads and stores, as well as on boxes, is all part of branding. Notably, iPhone is known for its efficiency and exclusivity. Besides, it falls under the luxury category. Now, that’s the brand.
Sales: It is the process of translating the demand and interest into a purchase. Or, it can be defined as converting a lead into a customer. For example, if you have added a product to your cart but haven’t purchased it, then it is the job of sales to close the deal. A salesperson might offer a reminder to make the purchase or provide some discount to close you.
Marketing: It is all about generating the interest of people and creating leads. These days, marketers target a specific audience and use tactics like personalisation to fight for attention.
Developing a Strong Brand
When it comes to effective brand building strategies, just remember to connect what matters to your business with the things that affect your customers the most. For example, share how your goals align with your customers’ goals or how your mission addresses their pain points. Devise your strategies considering how you want your consumers to see the brand.
Further, narrate how your brand is solving the base customer problem. Around this, create a mission statement that also speaks about your organisation’s purpose. It should resonate with every aspect of your brand. Don’t forget to highlight how customers are getting benefitted emotionally.
Last but not least, be patient. Brands are not built overnight. It takes time! Remember, the trial-and-error approach is the best way to improve and scale heights.
Increase Sales through Branding
It is important to understand that branding sets your business apart from others. It inspires action. Also, branding efforts help develop trust through consistency. Brands like Ferrari maintain stringent standards to protect brand integrity. This is also one of the ways the brand can command higher prices.
In addition, consumers make purchases based on trust. As per Edelman research, 53 per cent of consumers will buy first from a company they trust. Just presenting your business as a trustworthy brand is not sufficient. It is important to embody whatever your brand signals or promises.
If branding is done right, it helps build and maintain customer loyalty. This means customers will not only choose your products over others, but also ignore if another company is getting better reviews. Moreover, brand loyalty improves engagement and customer acquisition. Loyal customers advocate for your brand no matter what.
Notably, the first impression must meet customer experiences. Any disconnect can cost customers. It is vital to consider that customers won’t just leave but also share negative reviews that will create a poor perception of the brand impacting future customers.
How to Become a Brand Marketing Expert?
In order to become a brand marketing expert, it is important to get your basics right. Understanding concepts like segmentation, positioning, marketing mix, differentiation, value proposition, and marketing metrics, is vital to plan, execute and analyse brand marketing campaigns.
Equally important is defining your brand identity and strategy, including its mission, vision, values, personality, tone, voice, unique selling points and benefits. Then comes the task of narrating your brand story. It is important to craft a story that connects with consumers emotionally.
Now, it’s time to build your community. Connect with loyal customers, product fans, and influencers who share a common problem that your brand is solving. It is important to listen to their needs and preferences and consider their feedback.
Measuring and evaluating the effectiveness of brand marketing efforts hold the utmost significance. It is important to track and analyse data related to brand awareness, reputation, recognition, and recall. This helps to improve the brand marketing strategy accordingly. Lastly, never stop learning and growing.
Conclusion
If you are looking forward to pursuing a successful career in brand building, then it is important to excel in sales and marketing, as well as accentuate your leadership skills. To work in this direction, you can enrol in the reputable Executive Management Programme in Sales and Marketing Leadership programme by the Indian Institute of Management Lucknow. For further details, you can contact Imarticus Learning.
