Effective brand strategies are how you’re going to grow your business. 🌱 Brand power is what’s going to get you there. 🎯⠀
Colours, fonts, and logos are a place to start, but it’s not what’s going to build a memorable experience for your customers. Brand power 💪 is what’s going to do that. ⠀
What is brand power? ⠀
It’s the ability of a brand to attract a share of its particular market. ⠀
Why is that important?
Attracting market share sounds like something undefined and a bit elusive. It’s not. Strong brand power is important because it will help you achieve two main things: ⠀
1️⃣ Supports your pricing⠀
2️⃣ Keeps the focus on product quality ⠀
Once you’re able to wield true brand power, you won’t have to worry about being the cheapest option. Your competitor won’t be able to undercut you because your customers will see your offering as the best solution.
That sounds kickass. How does that work? ⠀
It’s a bit like an economic moat. Imagine there’s an invisible stream of water surrounding your company and protecting 🛡 it from competitors. It’s a distinct advantage. It’s hard to mimic. It protects your profitability.💰 It’s a barrier you want to have. ⠀
How do you start building power for your brand?
This is about the key qualities your brand has and the purpose behind why you exist. Grab a pen and paper, then do your best to write out the following:
- Who you are
- What you offer
- Why people should care
Take a beat and really think about the voice you want to use. This is an opportunity to communicate on a human level, making a direct emotional connection with your consumers. Use that.
Why should you make this a priority today?
Either you’re building this barrier on purpose OR you’re hoping it happens on its own. It’s a little risky to sit back and wait. You don’t always get what you wish for, you get what you work for.
It sounds like it’s time to make this whole ‘brand power’ thingy a priority to me. 🤔