It’s cutthroat out there, and you need a strong brand to compete. Do you know how to convince the number crunchers and the board room to invest in your brand? Here’s what you need to know about branding to resonate in the board room and ultimately get approval on the tools needed to cut through the clutter when competing for your customer’s attention.
First, stay calm and be confident. This is of paramount importance.
Speak in a language your board room understands. Numerous studies show that investing in your brand provides an ROI. And branding isn’t limited to B2C businesses. In fact, B2B customers often have a higher risk when making a purchase decision because negative consequences can tarnish their professional reputation in addition to the bottom line. Your company should do business with others that look like yours, including aligned core values, culture, and overall brand image. If you do business with a company that doesn’t align with yours, your brand image will suffer.
And as manufacturers routinely sharpen tools and update equipment, the brand also becomes tarnished and fatigued over time. We’re in a rapidly evolving marketplace and what worked years ago will not work now. There are diminishing returns with any strategy, and it’s time to refresh and reinvigorate your brand.
A strong brand means you don’t compete on price.
Everyone in the board room understands a price war is a race to the bottom. Nobody wins. But creating a strong brand doesn’t mean you have to rely on low price offers. Instead, your brand will win business based on a value proposition that is relevant to your target audience. To accomplish this, you need to thoughtfully create a brand identity that addresses the pain points and needs of your ideal customer.
What everyone in the board room may not understand: People who eat, sleep, and breathe the business every day are not well-equipped to create a brand meaningful to customers. They are too close to it and lack objectivity. Creating an effective brand designed to get results is a big undertaking, which brings us to our next point…
Present a proven methodology and a fact-based solution.
It’s time to invest in third-party branding experts who offer a proven, methodical approach to branding. The methodology needs to include a brand audit, comprehensive competitive research, and a series of interviews with stakeholders. This is an objective way to identify pain points your value proposition can resolve in a language your customer will understand. This approach results in a strong brand identity and quality content that will connect with your customer.
Advise on the execution phase.
So, you’ve created a bulletproof brand built to resonate with your target audience. Now, how will they find you? Set expectations that you need a thoughtfully planned execution phase. It’s not just about updating the logo on your website and sending out an email with a link. Savvy brands see this as an opportunity to create an internal and external launch plan designed to maximize enthusiasm and engagement.
Before the external launch, giving employees a sneak peek at the new brand and explaining how they can help embody the new brand promise will generate excitement and commitment. It will help ensure a consistent presence throughout all touchpoints, including emails, social media, videos, search engines, email signatures, estimates, and billing, as well as offline marketing materials including in-person meetings and presentations, events, business cards, and collateral. Getting employees on board with the new brand will help ensure you don’t overlook any touchpoint, and it will give them the opportunity to reinforce your message and yield results.
Ready to tackle branding the board room? The branding experts at id8 are here to support you. Contact us today.