For your business to grow, attracting new customers is crucial. While repeat customers will obviously help your company to sustain itself, it will remain running on the spot if you fail to add to that customer base. Effective branding can be a powerful tool for reaching out to new people – but why?
Do you have “too many goods chasing too few customers?”
It’s likely that your company has more than enough products and services available for selling; your problem is much more likely to be getting people to buy them. Edwin Dearborn, the author of “Power Branding Secrets”, has pointed out Fast Company’s comment that “almost every industry is struggling with overcapacity: too many goods chasing too few customers.”
So, the good news about this situation is that you shouldn’t have to fret about how you will cope if your businesses sees a sudden upturn in customer numbers; you should be able to cater for those new customers without too much trouble. But the conundrum remains: How can you get that upturn in the first place? Through effectively putting together what has been called a “branding triangle”.
The three major parts of a “branding triangle”
Some people might think that they know for definite what branding is. They might picture the distinctive Apple logo or the red and white colours of the Coca-Cola packaging and think that branding is about a simple but memorable logo and well-designed website. However, this is more to do with visual branding, which far from paints the whole picture of branding.
In his book, Dearborn has explained that there are three main components of branding, each of which form what he calls the “branding triangle”. These include the brand identity, which covers such visual aspects as your logo, colours and uniforms. Personalised badges that we offer can certainly help you to success here.
Another aspect is the content management – this refers to the promotional and sales materials and strategies that are used to keep customers interested. So, the company’s website, blogs, podcasts, social media and brochures are all accounted for here. The third part of the branding triangle is customer service; this is how your firm delivers its products and/or services in relation to the customers’ requirements and expectations.
Entice new customers with a “freemium” offer
Dearborn insists that, in order to attract more customers, you must consistently and routinely excel at all three aspects of the branding triangle. These aspects, he says, underpin a brand’s reputation, word-of-mouth and value. However, someone who has never previously bought from your company won’t be able to judge its customer service until they buy from your company – a classic chicken-and-egg situation. You can overcome this by offering something small for free.
Whether it’s free samples, discounts, 2-for-1 offers or something else, you want to offer something that can genuinely pique a new customer’s interest before persuading them to become a paying customer. If a particular offer seems to be attracting lots of interest, do your best to avoid messing with a winning formula.