Brand is often thought of as a cost center but advocates prefer to think of it as an investment. When properly formulated and executed, a brand not only helps build awareness and favorability that benefits sales, it also helps streamline operational and communication processes. A strong brand increases corporate efficiency and accelerates the sales process.
Brand is a sales stimulator: A strong brand will turn prospects into buyers
The marketplace for goods and services is crowded. Buyers are faced with an overwhelming number of choices and they seek shortcuts to evaluate providers. In this context, brand becomes a powerful tool to differentiate one company from another.
A properly managed brand can help:
- Build awareness. The messages you put into the market aggregate to create an overall impression of the firm. If disparate messages exist, buyers can get confused and not know what you really stand for. When all of your messages align appropriately, they build upon and reinforce each other, creating a powerful reputation.
- Differentiate your company. It is critical to set yourself apart from the competition in ways that are relevant to your audience. Your brand will help buyers quickly understand what is unique about you, making them more likely to include you in their consideration set.
- Build trust. Creating consistent and predictable experiences sets audience expectations. The more coordinated, integrated and purposeful you appear, the more likely a first time buyer will feel confident you will deliver the benefits you promise.
- Shorten the sales cycle. A strong brand enables buyers to make purchase decisions based on reputation. Brand can act as an insurance policy of sorts for buyers, allowing them to feel confident in their decision without needing to know every single detail. It shortens their decision making time.
Brand can save money: A strong brand keeps communications cost-effective
Communicating to a variety of audiences regarding a variety of products and offerings is a complex and weighty endeavor. A strong brand that is fully understood internally and properly embedded into the operations of an organization creates efficiencies. A clear brand strategy that is built to support the business goals enables faster decision-making. It will:
- Reduce cost of sales. Having a central guide as to how to communicate in print, online and in person makes communications development more streamlined. A well-defined brand eliminates the need to reinvent the wheel every time.
- Lower barriers to entry. The stronger your brand, the more credibility you have to scale into new products and markets. Target audiences are more likely to trust in your “cross-over” skills if you have a strong and respected reputation.
- Accelerate the sales process. A well-crafted brand enters the room before you do, promoting audience receptivity. The trust that comes from a strong reputation allows you to accelerate the path from prospect to customer.
- Facilitate word of mouth. The stronger your brand, the more confident a buyer will be in recommending your services — essentially turning your customer base into an unpaid sales force.
If you are looking to improve your pipeline, speed up the velocity of prospects through the sales funnel, or lower cost of sales — building a strong and well-managed brand can reap large returns.blog comments powered by Disqus