How being specific in your branding leads to greater success
If your company is like most, it has likely undergone some significant changes in the last 16 months or so, from shifts in internal structures and policies to external communications, like branding and marketing. So, how do you skillfully move forward and reach your goals given the current climate?
One of the most common pitfalls I see is the temptation to cast the broadest net possible in your outreach, marketing, and branding. Many business leaders want their company to be everything to everyone, believing this approach will increase their impressions, improve brand awareness, and send their conversion rates sky high. Unfortunately, they’re wrong. What happens instead? Their brand tries to be too many things at once, and the result is that they’re left with an unengaged, watered-down collection of impressions, they’ve made far less of an impact on their market, and their conversions actually decrease.
Here’s where ‘choiceful’ business strategy comes in. When a company hones in on its purpose, brand voice, and brand image, it’s able to create a stronger brand identity, make a greater impact on their target audience, and drive higher revenue.
3 Common Areas Companies Can Be ‘Choiceful’
- Choosing what customers to serve. Failing to use targeting to reach a cohort of potential customers will actually decrease your growth potential. So get specific about who your product or service caters to, and focus your marketing on them! A good example of a brand who has been clear who they will target (and who they won’t) is Cheerios. Their success has come from targeting adults who prioritize a healthy breakfast for the whole family versus targeting kids who want a fun, colorful, sugary breakfast.
- Choosing their brand benefit. Determining your brand’s value and offerings will help you more expertly delight your target audience and customer base. For example, Starbucks has chosen to offer specialty daytime drinks, and they’ve also made the choice NOT to focus on other drinks (like wine, kombucha, cider, and so on). Saying “no” to some offerings means you can wholeheartedly (and expertly!) say “yes” to providing the very best of what you do offer.
- Choosing marketing placements. It’s easy to get swept up by the latest marketing channels. You might be tempted to spread your marketing budget thin, trying to be visible everywhere to everyone. Instead, prioritize the top channels that will help you best reach your target audience. This will maximize your investment in those few, top-performing vehicles before spreading into new marketing touchpoints. One of my clients has a proven model of leveraging CRM and event marketing, and they’ve grown well past $1 billion with these two tools alone!
Many of the most successful, well-established brands have been choiceful about where they’ll play and how they’ll win. If you want your business to see similar results and long-term growth, even in large and established markets, make sure to be choiceful in these three areas.
Need help establishing a strong, choiceful brand that makes an impact where it matters most? The team and I at Female Forward can determine the answers to your company’s most crucial questions: Who is your target audience? What message resonates with that audience? And how can we efficiently and effectively reach your audience? Reach out today for help maximizing your company’s growth potential with a choiceful strategy!