How do current and potential customers perceive you? When there is chatter about your company, what does it sound like – and are you eavesdropping or guiding that conversation? A strong brand allows you to communicate who you are, what you do, and why you do it to your audience. Building your brand is strategic, ongoing, and essential.
It can also be overwhelming! How do you do it? Where do you start? Start here. Haven is here to guide you through the process of and introduce you to the key facets of brand building basics.
Branding by the Numbers
First, why is building your brand so important? Prepare for some stats, folks.
- Consistent branding across all channels boosts revenue by nearly a quarter (23%)
- 91% of consumers want to buy from an authentic brand
- 82% of investors want the businesses in which they invest to have a strong brand
- 94% of consumers will be loyal to companies that value and act with transparency
- 73% of consumers love brands because they deliver great customer service
- When customers have an emotional connection with a brand, their lifetime value (LTV) is 3x higher
- Brand loyalty is worth 10x as much as a single purchase
We could go on and on. And on. But the point is clear: branding is essential, as is maintaining consistency. There is, however, much room for growth:
- 40% of marketers do not think their brand is well-aligned with their long-term goals
- Less than a quarter (23%) of consumers say they have a relationship with a brand
- while 95% of companies have formal brand guidelines, only 25% stick to them
Your brand is your identity; it is not only what, how, and why you do what you do, it is how you present yourself to consumers. When this is unaligned with your overarching goals, inconsistent, or unclear, it creates confusion – and this erodes the trust and authenticity that you need to win over your audience.
Getting the basics of brand building right is essential to your success.
5 Brand Building Basics
There are many aspects and facets of branding. The following are five fundamentals that will help you build a solid foundation.
1. Creating a Memorable Customer Experience
No matter what you do – from building beautiful custom homes and installing today’s most efficient windows to designing stunning interiors and wiring homes – you are not competing on the strength of the lumber, the quality of the windows, the gorgeous color scheme, or the smart switches. Not really. Providing the highest quality is what we do. How we do it is crucial. Ninety percent of businesses compete mainly on customer experience.
That’s right: customer service is ultimately what distinguishes and differentiates us from the competition. Creating a memorable customer experience is job one in terms of a strong company brand.
2. Personalizing Your Brand
Personalizing your brand puts a human face on it, one that your audience can relate to and trust. Start by clarifying your mission and vision statements and nailing down exactly what you have to offer and why you are in this space. Give your brand a distinct personality: if it were a person, would it be reliable and solid? Fun and fresh? Edgy? Carry this identity through your marketing efforts.
3. Putting the Power of Emotions to Work for You
As mentioned, customers with an emotional connection to a brand have an LTV that is three times greater. When you work in the construction and design industry, fostering these types of relationships is all but money in the bank.
The best way to start is with impactful brand storytelling. Our brains are hardwired for story, and you will be better positioned to connect with the people who can help grow your brand.
4. Generating Value for Others
What do you really offer? What sets you apart from others who provide similar products and services? Not only do you need to clarify your unique value proposition, but you also need to prioritize generating value for others. In other words: what’s in it for them? Tell that story in your marketing, from videos and blogs to social media posts, help your audience understand the value for them.
5. Building Customer Loyalty
A loyal customer is worth their weight in gold! These customers have a higher LTV, spend more and spend more frequently, and they can become your biggest marketing asset – brand advocates! Building customer loyalty is an ongoing effort, and one that yields incredible results.
Take some time to learn about each of these fundamentals in more detail. This will help guide your brand building strategy – and boost your bottom line.
We promised you a quiz, so here it is: Who is there to take the frustration and confusion out of marketing so you can build a compelling brand? You guessed it. Haven. Contact us today to get started.
