For business owners and entrepreneurs, referrals are the best way to multiply your marketing and build a powerful brand. Likewise, collaborators are important because they are still the single best source of new business.
Referrals and collaborators are an essential piece of your brand strategy that a business cannot afford to ignore. How you work with potential collaborators means the difference between getting a referral or a bad review.
In our previous blog post, “Power of a Brand: Your Market”, we discussed how defining your market is one step in the overall strategy for building a powerful brand. A market includes your competition, your geographical area and the subset of people most likely to buy your product or service.
Identifying the specific clients or people your business wants to go after is vital to good marketing; however, it represents only the top layer of a tiered cake. If you are going after the good stuff, you will want to dig in a little more and create client profiles, also known as buyer or user personas.
Brands can’t be everything to all people. Knowing your market includes knowing what you offer, who and where your people are and what your competitors are doing. Defining a business’ market takes the guesswork out of advertising and reveals how to communicate with customers effectively and efficiently.
Most customers recognize a company by its logo before anything else. A logo doesn’t even need to have the company’s name in it to be effective.
Logos are powerful. Businesses use symbols to efficiently advertise without using words, hoping that, in an instant, a customer will know who the company is, what they do and what they stand for. But even though logos are often the most appealing part of a company, they only represent one part of a company’s branding.