When starting our own company, we often want to jump right away and have strong logos, well-defined brand colors, and hear the name of the brand from the lips of every person on the streets. However, far from everyone realizes how crucial the proper building of a brand is for future growth, and how influential can a genius leader be in its formation.
77% of B2B marketers are saying that the brand is crucial for successful growth. For sustaining any kind of performance and success, nowadays, you do need to have a strong brand. This might seem as a vague definition, but there are a few specific areas that can be improved in order to guarantee an establishment of a successful brand.
Company has to align with its customers’ values. Consumers are less likely to buy from the company which goes against their beliefs or which recently went through a huge ethical scandal. For example, I stopped going to one of the coffee shop chains in Gothenburg, despite living there for a long time, after they were caught on mistreating their employees. Same goes for fashion: people are paying attention to where the clothes were produced, what are the conditions for workers, and whether the company pays attention to the planet. Therefore, make sure to take care of your brand regardless of what kind of industry you are in and monitor your values, values of your customers, and whether they are being maintained. Customers are watching you.
Make sure people build connections with your brand. Statistics show that around 64% of women and around 68% of men have felt an emotional connection with a brand. How can you create that? Modern world is built around emotions and a lot of purchasing decisions are dependent on the emotional connection that your brand has with its customer. You as a leader have to ensure that your company has this emotional connection, that it is stronger than that with the other brands, and that you know how to trigger it. 89% of shoppers stay loyal to the brands that share their values, and that they feel emotional connection to.
Be transparent. 94% of customers are likely to show loyalty to a brand that offers complete transparency. Truth is always going to come out, but meanwhile, if you are trying to hide something from the customer, you will spend more on salaries (10% on average), you will find difficulties hiring the right people for the job, and you will be constantly stressed out whether everything is in order.
Create good customer service. 73% of consumers love a brand because of their helpful customer service. People become your brand ambassadors, so you need to bring them on the same wavelength with you as a leader, as a company, and make sure that they keep spreading this value around. That way the mission is going to work for you, and not only you for a mission.
So, to become a successful brand, define your values, be transparent, surround yourself with the right people and be there for your customers!
If you are interested in learning more about upcoming guests and tips to create a successful brand, listen to the whole episode of the Genius Leadership podcast here.
Stay tuned and be genius!