Do you know that
86 percent of consumers are willing to pay up to 25 percent more for a good customer experience? An effective strategy that differentiates top brands from their competitors is
Branding is the process of creating a name, symbol, logo, and personality that represents your product or services. Your company becomes important when customers associate high-value and quality products with your brand.
In today's business world, competition among companies has grown to the level where gift sharing has taken over good customers relation. How sad!
Howbeit that branding your business is not just about sharing cookies and making awareness, it is a way of creating value for your product and at the same time creating a space of confidence in the heart of your customers.
What makes the top brand is based on how much profit you make, how strong your brand is in comparison to your competitors, and how long your company can provide a quality product without depreciating.
The number one brand in the world, Apple, is presently worth $214 billion, this is to show the difference a good band can make when it comes to selling your product.
Branding is so important because it creates an unforgettable experience on the customer's brain, helps establish awareness and long-term loyalty that makes customers spend 300 percent or more on your product.
Below, therefore, are six (6) effective branding strategies that make your customers spend more on your product.
1. Work on your (USP) unique selling proposition
It is hard for customers to have confidence in a brand that doesn't stand for something. A unique selling proposition (USP, also seen as a unique selling point) is a factor that differentiates a product from its competitors, such as the lowest cost, the highest quality, or the first-ever product of its kind.
A lot of businesses make the mistake of standing for everything at their initial stage, whereas businesses with a unique selling proposition stand for something specific that later becomes what they are known for.
Don’t make people guess what your brand is all about. Tell them or show them, clearly and simply.
By defining your brand values, you’re trying to help buyers identify with you and give them a higher purpose for becoming a consumer.
2. Have a customer-friendly website
Do you know that Google, Bing, and other search engines, use site performance as a ranking factor? Your unfriendly website reduces your customers’ conversion rate, reduces your SEO, and grants low pageviews.
Your website is the home of your business. It builds credibility and trust. However, because every customer has a different personality (what s/he likes and dislikes), you’ll need to be broad and strategic in order to best ensure that your business website makes sense to all your customers.
3. Use customer loyalty software as a reward
A customer loyalty program is a rewards program offered by a company to customers who frequently make purchases. A loyalty program may give customers free merchandise, rewards, coupons, or even advance released products.
For example, WayMoreNaturals always give their returning customers one free organic kratom sample - and this is one of many reasons why they’re regarded as the #1 Organic Kratom Vendor in the industry.
According to Business Wire, coupons are a very effective way of attracting new customers. More than half of the people surveyed would try a new brand if it offered them a coupon.
Just as quality service is essential for customers, customer loyalty software will also help your business in customer retention.
4. Create a good relationship with your customers
To succeed in branding, you must understand the need of your customers. What they want, and what makes them prefer your product compare to your competitors. You can implement this by integrating your brand strategy throughout your company at every point of public contact.
Understand your customers by interacting with them on a frequent basis, take every negative complaint seriously, and work on it Asap. Create several platforms by which your customers can easily access your product and your customer's service without stress.
In fact, a study shows that 51% of U.S. consumers are loyal to brands that interact with them through their preferred channels. Customer retention is all about engaging your customers in new exciting ways, but also in ways that suit your audience.
5. Give your brand a unique identity
Your identity goes a long way when it comes to building a brand that wow the consumers. Aside from using well-known influencers, using a Catton face or a well-developed logo to represent your brand can help with memory retention and customer attraction to your products.
Your brand identity does not stop on having a logo and using influencers alone, 90 percent of your brand’s success is determined by how you can use the internet, hence, your online profile goes a long way.
Start producing content that will help your customers understand the value of your product. Produce as much content as possible on your site and other external sites; this will serve as a connection between you and people buying your products.
6. Build trust, credibility, and loyalty
Nothing compares to trust, credibility and loyalty when it comes to creating a successful brand. The question is, can your customers have 100 percent trust in you?
Customers will come back from time to time if you provide a quality product and value. Promote your company by encouraging happy customers to rate your product and provide feedback online.
According to Experience Matters, loyal customers are 5x as likely to repurchase, 5x as likely to forgive, 4x as likely to refer, and 7x as likely to try a new offering.
Not having an effective branding strategy in 2021 would cause you to lose out on potential business opportunities while you spend time trying to educate clients on who you are. Start off this year with a strong branding strategy and hit the ground running so you can put your efforts into growing your business.