Initiating a business venture may seem simple but nurturing growth and distinguishing it from other companies are entirely distinct challenges, so an alternative manner of thinking and specialized skills are needed. Balancing profitability with sustaining momentum and relevance is a challenging feat for any business, but there are concrete measures that you can take to guarantee the progress and thriving of your business. If you want to create a strong brand for your established company then this article has got you covered with its ten tricks which include naming your business.
Before we explore the recommendations in detail, there is an interesting real-life story about how one company made use of many such strategies successfully, and for almost half a century now since its establishment in 1973, Patagonia is one of the leading companies offering both clothing and outdoor gear. At its inception, Patagonia had little market share but specialized in catering to the needs of specific customers. On the other hand, with time they have become renowned globally as a result of their focus on sustainable practices and ethical business.
Patagonia’s success can be attributed in part to making sure they meet the needs of their loyal customer base, and the fact that their intended market has a love for nature and concern for environmental problems is recognized by them. Henceforth, they have assured the sustainability of their products by taking necessary actions and giving financial support to environmental conservation programs, and Patagonia’s customer-focused branding has enabled it to establish an ardent fan base that fuels the company’s growth.
Tip #1: Focus on Your Customers
Patagonia owes its success in part to its ability to meet the needs and preferences of its dedicated customer base and attracting customers who care strongly about nature and environmental concerns has also played a role. By taking steps to support conservation programs and ensuring product sustainability, Patagonia has further cemented its reputation with these customers, meanwhile, strong branding efforts have helped build an enthusiastic following that continues to drive growth.
Tip #2: Use Social Media
For a thriving enterprise looking to promote themselves better, social media can be the perfect tool for building a wider consumer base and connecting on this platform, making possible deeper ties to customers in order to strengthen brand presence. One way to display your products while sharing your company’s culture is through the utilization of social media.
Tip #3: Create Valuable Content
Creating valuable content is another powerful way to grow and brand an established company. By providing helpful information, you can position yourself as an authority in your industry and build trust with your customers. Valuable content can take many forms, including blog posts, videos, podcasts, and social media posts.
Tip #4: Partner with Other Brands
Working alongside different brands can be a powerful approach to growing your business and extending its reach. Identify brands that share your values and target audience, and then come up with collaborative ideas. It’s possible to work together with other businesses by co-hosting events or coordinating advertising plans.
Tip #5: Invest in Customer Service
It goes without saying that all businesses need good customer relations but when you’re already an established company it becomes essential, at the start of any enterprise endeavor it is essential to make certain that you have fulfilled all obligations towards ensuring customer delight in regard to the products or services offered. Using this strategy may lead to developing a loyal following and receiving favorable recommendations.
Tip #6: Expand Your Product or Service Line
Growing your brand by expanding your product line is a proven strategy used by many successful businesses, so keep an open mind to new business opportunities that may bring complementary products or services to your existing portfolio. To boost profits in your clothing store think about broadening the range of items available by branching out into accessories or footwear.
Tip #7: Host Events
One effective way to engage with customers and promote your brand is by hosting events for them, such as workshops or seminars related to the product or service that you offer that can help in its promotion. One possibility is to hold an event that corresponds with your company’s core values such as organizing a charity fundraiser.
Tip #8: Differentiate Your Brand
In order to be successful in a saturated market, it’s important for your brand to stand out among other competitors. Initially, it’s crucial to establish what sets you apart and effectively communicate this with your customers. An exclusive value proposition partnered with memorable storytelling about your brand and distinctive visuals can be created.
Tip #9: Leverage Influencers
Influencer marketing is a growing trend that can help you reach a wider audience and build your brand. Look for influencers who align with your brand values and target audience and find ways to collaborate. This could be through sponsored content, social media posts, or events.
Tip #10: Create a Profound Name
Creating an exceptional name is an integral part of branding your company. A good name should be memorable, easy to pronounce, and reflective of your brand values. When it comes to writing a brand name, using a Squadhelp tool can be incredibly helpful in generating unique and memorable options. Here are some examples of startup names that are exceptional:
- Airbnb – This name is easy to pronounce and memorable. It also reflects the company’s core values of hospitality and travel.
- Tesla – This name is simple and elegant. It reflects the company’s innovative and forward-thinking approach to sustainable transportation.
- Dropbox – This name is easy to remember and reflects the company’s core product offering of cloud-based storage.
- Warby Parker – This name is playful and memorable. It also reflects the company’s mission of disrupting the eyewear industry.
Growing an established company’s brand is crucial for maintaining competitiveness and profitability, so it is essential that companies focus on catering to their target market’s specific needs while also engaging them through various means such as creative content creation initiatives or connections made via influencer marketing programs. If you utilize the correct methodologies and possess the proper mindset about it, building a lasting brand that resonates with consumers is achievable.
This guest post was written by Angela Gerard of squadhelp – “We help build great brands by connecting companies with most creative people across the globe.”
Angela Gerard is a branding professional with 5 years of experience working with companies who need names through crowdsourcing.
Following a career spanning >50 years in the technology industry across three continents, with three decades in CxO roles leading significant, sustained growth in revenue and profitability, I now work with successful owner-led businesses to further enhance their growth, profitability and business value.
If you’d like to discuss your goals, company culture, board, business strategy, trends, goals, or anything else related to your business, book a confidential, free 30-minute call with me here.
I’d be delighted to talk with you.
And if you’d like to learn more, these related posts might be of interest:
- “Sell the problem you solve. Not the Product.” – Unknown
- How to Ruin Your Reputation and Brand – Lessons from Turkish Airlines
- “Businesses often forget about their current customers [audience] – the people who are already listening, buying, and engaging.” – Paul Jarvis
- Defining Your Ideal Customer Boosts Profits
- Living Your Brand – do companies really care about their Brand?
- Who Controls Your Brand?
- Customer Loyalty – is there a Right Kind?
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