How much is your brand worth? How can you boost that value? How much time will that take? You may wonder what strategy is best for a small business, a startup, or a Fortune 500 company. I’m sorry to say, I have no secret strategy to double your brand value. But just good old commonsense can do a lot when it comes to branding.
Try Social Marketing
One of the newest strategies for increasing brand value – and of just getting noticed in the first place – is with Facebook. Why not Twitter or LinkedIn or MySpace? It depends on the amount of time you have. If you lack the necessary time to publish info across every social network, first off, you can often connect them (like connecting your Facebook page to your Twitter account); second, you don’t necessarily have to. Facebook has the most users. If you want to connect to the most potential clients with the least amount of effort, Facebook is smart. But building a following does take time; don’t expect your website traffic to double in days.
Are You Asking Buyers Questions?
Sometimes the best businesses simply ask buyers what they want, or sometimes even better yet, what they don’t want. Domino’s Pizza ran some ads a few years back where they had testers explaining their pizza tasted like cardboard, along with some other nasty comparisons. Domino’s recorded this video, then redesigned the pizzas and came back to the same people who denounced their pizzas, and changed their minds. Domino’s has continued this tactic, now showing footage from a real focus group. While you don’t need a million dollar TV commercial campaign, sometimes you can learn more from unhappy customers than the happy ones.
Give Something for Nothing
If you try Facebook, depending on your brand, you may also try giving away some freebies. Some marketers give discounts if you like their Facebook page or hold sweepstakes for fans. Others post free content on their Facebook page so more prospects start following them.
Different colors symbolize different things and can actually evoke certain emotions in people. A recent study pointed out the most popular brand colors were blue and red. Oddly enough, your brand colors have an affect on prospects. This includes your logo, any pictures of products, and pictures of employees. While this may seem overtly simple, sometimes the best way to re-brand your business may include adding color.
Why Always Sell?
If you want to build a brand, you must be a master salesman, right? While salesman helped build our advertising foundations, so did those who treated this as more than a business. Sometimes it’s the life style you are selling, rather than the product. Sometimes one email a week instead of 10 is enough. Often you can close a sale without lowering your price, but asking some questions. The point is, take off your sales hat every now and then. Get creative and have fun.
You want to be what Seth Godin calls a “Lynchpin,” where you give freely and build value over time. If you follow the above tips, you may increase your brand value and your value to buyers. If you only take, take, take, if you offer no fun or specials, if you don’t differentiate yourself and show personality, others will.