Does a Solopreneur Need a Brand?

The mute button saved me this week.

I was on a teleconference about marketing messages with dozens of participants.  Someone asked the leader whether he thought she needed a brand for her business, now that she had crafted a marketing message.  Before he could answer, someone yelled:

“Of course you do!  A message is not a brand!”

Luckily, my line was on mute, so no one heard me. Phew!

I can’t help it.  I’m a branding evangelist, and I believe everyone can benefit from a well-branded business.

Knowing exactly whom you want to serve, why you’re the best option for them and how you back up your promises is critical. When you consistently share this message, you can skyrocket your business.  I have seen it over and over with my clients.

But maybe that questioner has a one-woman business. If so, as a solopreneur, does SHE still need a brand? That question got me thinking.

And, I decided: not everyone needs a brand.

But, how would you know?

You don’t need to brand your business if …

• You have all the clients you want

• They are the best clients ever and really “get” you

• Your clients are loyal (as in repeat business)

• They refer others to you who also become loyal clients

• It’s easy to articulate what makes your business special, unique and better than your competitors.  In fact, everyone in your company, as well as your clients, can differentiate you.

• Your prices (and profits) are exactly as high as you want them to be.

If you answered a resounding “Yes, that’s me!” to every statement in the list, you don’t need a brand, and you can stop reading now and go ride in your solar-powered yacht.

Ciao!

…

…

Since you’re still reading, I’ll tell you a secret:  anyone who truthfully says yes to that list – and those businesses do exist – doesn’t need a brand, because … THEY ALREADY HAVE ONE!  And, it’s quite healthy.

Here’s how you can tell a healthy, well-branded business (even if they’ve never “officially” branded themselves):

• They have all the business they want. (However, by itself, this does not necessarily mean they have a good brand.)

• Customer loyalty indicates a business is consistently delivering on its promise, and fulfilling the expectations of its clients.  “The promise you fulfill” is one way to define brand.

• Referrals from loyal customers are a fun way to grow a business and an easy way to determine a good brand.  The right clients (who value you so highly that they never switch brands) send others (indicating they know who’s a fit for you), and those people buy (meaning whatever was promised to them by your loyal customer was fulfilled).  Bingo!

• If you and your clients can not only differentiate your brand, but also describe your advantages, then your brand is well-defined.  Articulating your point of difference may be the most difficult thing for any business to do.  (It’s even harder when your market is crowded, making your offering seem like a commodity.)

• Well-branded businesses can charge higher prices because there is a clear understanding of their value.  They are more profitable because:
  • Their client base is loyal (lower marketing cost)
  • They grow from referrals (lower new client acquisition cost), and
  • Their differentiated value statements (marketing messages) attract clients more effectively.

Differentiation is the key factor in branding and sets it apart from a simple “marketing message.” If you can say what you do in a way that gets attention, then bravo! You’re on the right track.

What’s even better is to communicate your brand in a way that ALSO sets you apart from your competition (or, all the other alternatives your prospect considers, including doing nothing).

Branding helps this process by creating long-lasting impressions – through imagery, language, color, associations, logos and tag lines – about your value in the customer’s mind.

If you can’t honestly affirm that you have an abundance of loyal customers, marketing messages that captivate your prospects and healthy profits, then your opportunity is to build a better brand.

I invite you to enroll today in the Enlightened Marketing Branding Action Group. Let’s discover and build the brand of your thriving business.

Tagged as: branding action group, small business branding

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