Build a brand, not just a business
Lounging on a deck chair by the pool, surrounded by palm trees, with your favorite drink in hand and watching the numbers climb on your laptop—this is how many envision life after leaving a 9-to-5 job to start their own business. It's a compelling image, promising freedom, independence, and success, seemingly just within reach in today's digital entrepreneurial age.
Why then does this vision of life remain elusive for many entrepreneurs?
Because they focus on building businesses, not brands.
The difference between a brand and a business
The words "business" and "brand" are often used interchangeably, but there's a lot more to them than initially meets the eye. Understanding the distinction is crucial for grasping how companies evolve from mere transactional entities to becoming beacons of emotion and loyalty.
Every brand is a business, but not every business is a brand.
Can you name a business that isn't a brand? Exactly. The businesses that spring to mind are brands because they've transformed their product, service, and even their promise into something that transcends simple transactions. They have become recognizable not just for what they sell, but for what they stand for.
By definition, a business is an organization that sells a product or service. That's it. Do you have something that people need and can't get anywhere else? Okay, you win. People have no choice and will buy. But what are the odds that, in today's saturated market, someone isn't selling something similar? And even if not, what are the chances that someone won't sense an opportunity and start doing the same thing, only better?
People connect with brands, not businesses.
A brand is a story; it's emotions and values that resonate with your customers on a deeper level. A brand is a promise you make to your customers. It's how you make them feel special, understood, and even inspired. It's the force that makes a customer choose your product over dozens of similar ones available on the shelf.
The simplest example is Apple. In a world flooded with smartphones, laptops, and various electronic gadgets, Apple products stand out not only because of technological innovation. Apple has transformed into a brand that people desire to identify with—a symbol of aspiration, lifestyle, and values that matter to them.
Apple wasn't the first to create mobile phones or laptops, yet their products enjoy the greatest popularity. Apple customers remain loyal to the brand, choosing new models even when competitors offer alternatives that are more attractively priced or technologically superior. This is the quintessence of brand power: the ability to create deep, emotional connections with consumers that go beyond purely rational product choice calculations.
Why build a brand?
If you have a thriving business and have never thought about building a brand, you might wonder whether it’s worth investing the time and money to create one. After all, it's not a matter of days or weeks. Brands are built over years.
However, the benefits of a solid brand can significantly outweigh the initial efforts:
Resilience to crises: No business is immune to market changes or the arrival of "lean years." However, brands built on a solid foundation of trust and customer loyalty have a better chance of surviving. When times get tough, it’s the trusted brands customers return to.
Branded products are worth more: Loyal customers are often willing to pay more for products and services from a brand they trust and identify with.
Increased product value: Products and services offered by recognizable brands are often seen as more valuable. Loyal customers are willing to pay more, not just for the product itself but for the experience and trust that the brand provides.
Self-promotion: One of the most effective channels for business growth is word-of-mouth marketing. Recommendations from satisfied customers work in the brand’s favor, creating a natural and credible form of promotion. But for this to happen, your company must be memorable – here’s where a strong brand identity helps.
Market differentiation: In today’s crowded market, where consumers have countless options, a strong brand helps differentiate your products and services. Regardless of market size, a memorable brand identity makes you recognizable and memorable.
Better search engine positioning: In the digital age, online visibility is key. Google and other search engines favor websites belonging to recognizable brands, which can translate into higher search rankings.
How to transform your business into a brand?
Transforming a business into a brand is a journey that requires more than just an excellent product or service. It's a process where your business starts to live its own life in the minds and hearts of customers, becoming more than just a place for transactions. Here are some tips:
1. Define your unique story and values
Every brand starts with a story. What makes your business unique? What values guide it? Your story and values are the foundation upon which you will build your brand. They will distinguish you from competitors and connect with customers on a deeper emotional level.
2. Understand and define your target audience
Who is your ideal customer? Understanding your target audience, their needs, desires, and behaviors is crucial for effective communication and building relationships. Tailoring your message to your target audience is the essence of brand strategy.
3. Create a consistent visual identity
Logo, color palette, typography, content, animations—all these elements should be consistent and reflect your brand's identity. A consistent visual identity helps build brand recognition and makes it easier for customers to remember your brand.
4. Build an online presence
In today's digital world, a strong online presence is essential. Develop a social media strategy, update your website to reflect your brand, and consider a blog or other content marketing forms to share valuable content with your customers.
5. Offer unique experiences
A brand is not just what you sell, but how you sell it. Offering unique experiences to customers—both online and offline—can help build loyalty and positive associations with your brand.
6. Plan and execute a communication strategy
Consistent and thoughtful communication is key. All your marketing efforts should be well thought out and consistent with your overall brand strategy. This includes advertising, content marketing, PR activities, and even the way your employees communicate with customers.
7. Measure results and adjust strategy
Building a brand is an ongoing process. It's important to regularly measure the results of your activities and adjust your strategy as needed. Analyzing what works and what doesn’t will help you better understand your customers and more effectively build your brand.
Transforming your business into a brand is a challenging journey but also one filled with tremendous opportunities. Remember that behind every strong brand is a thoughtful strategy and a continual pursuit of excellence.
Let this post inspire you to take the first steps on this exciting journey. In our next article, we will delve deeper into the world of branding, exploring how to effectively build and promote a brand identity that withstands the test of time.
Must-read
If you want to delve deeper into brand building, focusing on storytelling, check out the book "Building a StoryBrand" by Donald Miller. It shows how to effectively communicate brand values in a way that resonates with the needs and desires of customers.