Business Growth: Brand Development

Your brand is your reputation

In the fall of 2011, we bought a Kenmore washer. We didn’t hesitate because we knew from many years of experience that Kenmore is a reliable brand and we would get many years of laundry done with that washer.

Wrong! That Kenmore is now dead 2 years later, almost to the day. We’re replacing it with a GE we purchased from another retailer, and we won’t go near a Kenmore again.¬†For us, the entire Kenmore brand is now off limits.

In the steps of brand development, the decision makers at Kenmore have made a mistake. They’ve trashed the brand they spent decades developing, and they are going to have a very difficult time re-establishing the brand in the future (assuming they get the chance to rebuild it).

Your brand is your reputation. Whether your business is a small one-person shop or a big corporation, your brand can be developed to bring in new business and to up-sell to existing customers.

Think of your company brand and where it ranks it in these descriptions for the group of people you do business with:

  1. Awareness: I heard of that brand
  2. Preference: I like it
  3. Desire: I need it
  4. Urgency: I have to own it
  5. Purchase: I’ll buy
  6. Evangelism: I’m glad I own it and you would be, too

The key to business growth is to nurture a group of people who are at each step in the brand awareness process.

Your goal is to develop a group of people at the Evangelism level because this is where the strongest referrals come from. This may mean that you need to take some steps to shift your focus away from the Purchase level where so many businesses stop. Business growth and brand growth take place at the Evangelism level at the highest profit levels. To take your business and your brand to the next level, contact me today so we can get started.

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