Every entrepreneur wants to see his business scaling, right? For that, it is necessary to adopt a set of strategies. Marketing is a vital process for entrepreneurs because no venture can become established and grow without a customer market. However, many entrepreneurs make the mistake of overlooking its importance and end up neglecting this part. But Marketing is, in fact, the heart of the company. The better it is, the more successful the company will be!
These are our 4 reasons for you to implement a good marketing strategy and a good branding in your company.
1. A Brand Gives Identity
Brand Identity can be defined as the set of attributes that makes a company special and differentiated. It is basically the collection of all elements that a company creates to portray the right image to its consumer. In other words, it is what your company is, what makes your startup instantly recognizable to your customers. So it is not just based on having a beautiful logo. It involves the whole personality of the company, the expression of its core values and business methods. There are great insights in Kapferer Brand Identity Prism - check it out and use the template to strategize your marketing strategy.
2. Having a good brand makes you unique
Related to the previous point, having a good marketing identity and good branding, helps a startup set itself apart from the competition. Standing out from the competition is fundamental for sales and implies conducting research into the customer base and the surrounding market, in order to find out how we can respond to particular gaps in our markets, differently from our competitors. It is therefore necessary to define our USP - Unique Selling Proposition. In other words, the value proposal you have to offer to your client and that makes your business stand out when compared to other businesses in your market. The ability to sell your unique contribution can bring new customers who are looking for the specific product or service. A good example of this is Death Wish Coffee, whose USP is to be "the world’s strongest coffee". By defining this value proposition, the brand is aware that it won’t attract every kind of coffee drinker, but the product firmly appeals to a certain segment of consumers in a way that is difficult to imitate by other brands. As for you, what is your value proposition?
3. Increase the chances of consumer loyalty
Every day, consumers are bombarded with thousands of different company names, brand images and commercials. That's why a brand must inspire loyalty among its consumer base. For this, the brand has to challenge itself and work on unique campaigns, understand what the consumer is looking for exactly, offer bonuses and advantages, among others. Think of brands you bought again and again, because you were satisfied with the shopping experience. These brands are likely to have good marketing and customer loyalty strategies. Don’t forget to work on your CRM - Customer Relationship Management. Have you checked lately if your customer is satisfied?
4. Boosts sales
Once you find a way into your customers' minds and hearts, your chances of selling increase. As we say, nobody buys what they don't know. But knowing is not enough, it is necessary to have an image associated with that company. That's why we buy one brand instead of another. That's why we buy Coca-Cola instead of Pepsi, or vice versa. Also, once loyal, a satisfied customer will always transmit his shopping experience to his circle, creating the so-called "word of mouth". This has always been and will continue to be the best form of advertising, even in new ways. Thanks to advances in technology, “word-of-mouse” has also been promoted, that is, the sharing of shopping experiences over the internet. In a study conducted by PwC Brasil in 2016, 45% of consumers said that user generated content - reviews, comments and feedback - influences their purchase decision. Without marketing, these sales "by influence" would not have been possible.
Do you want to know more about marketing? Also read How to Change Your Content Strategy in Light of the Pandemic