Reilly Newman | As a business grows, so do its problems. Most business problems can be solved through systems, delegation, or even just removing the cause.
Certain business “problems” like taxes, bookkeeping, payroll, expenses, etc. are typically associated with numbers and business jargon answers. They are due to being in business and running a business. You need to pay taxes, you have expenses, you need employees, etc. However, what about the problems that come with keeping you in business?
Contrary to the inevitable problems that come with being in business. To stay in business (and hopefully grow) there are a whole slew of different problems. These may or may not include numbers and don’t typically have basic solutions. These types of business problems usually need brand solutions.
The problems that arise to stay in business are the more nuanced areas of business like sales, marketing, pricing, innovation, relevancy, and other outward-facing aspects of a business. The good news is that brand and strategy give you control over these so you can not just stay in business, but grow as well.
In today’s competitive market, businesses face various challenges that hinder their growth and profitability. One effective way to overcome these obstacles is by developing a strong brand strategy. A brand is much more than just a logo or a slogan; it is a representation of the company’s values, identity, and promises to its customers.
By building a robust brand, businesses can enhance their visibility, credibility, and reputation, leading to increased customer loyalty and higher revenues. A well-crafted brand strategy can help companies differentiate themselves from their competitors and communicate their unique selling propositions effectively. Notice that it isn’t enough to just have a brand, but it is what you do with the brand that provides the solution. Like a hot-air balloon can be used to lift someone higher than everyone else, they are not something that has an autopilot. You need to know when and how to properly add or release air and use it to take you where you want to go.
These benefits can drive business which will create some of the “being in business” problems we covered earlier. For example, a better brand will be more effective in marketing, which leads to more revenue, which impacts your tax responsibility, costs increase, and perhaps the need for more employees to service the demand.
A strong brand can also help businesses solve various operational problems. For instance, a brand that is known for its excellent customer service can attract and retain more customers, reduce customer churn, and improve customer satisfaction. This is like what Zappos did with their brand which ultimately drove demand for their service and helped them recruit new hirers who were drawn to what the brand represented. The Zappos brand killed two birds (at least) with one stone by “delivering happiness” which eventually was purchased by Amazon.
To that point, a brand can also facilitate internal alignment and engagement among employees. When employees identify with the company’s brand values and mission, they are more likely to work towards common goals, resulting in better collaboration, productivity, and morale. From Google and Apple to Patagonia and Redbull, these brands have not only created exterior desire from their audiences but also boosted the internal mechanics with employees who are proud to work there.
Brand solutions can be applied to many business problems from morale to marketing and sales. The impact of brand helps businesses grow and stay in business because it helps the business model go beyond just itself. It creates connection, passion, and even movement. A business is unable to do that on its own because the business model simply isn’t built for that.
A well-crafted brand can help businesses overcome various challenges and achieve their desired objectives. By investing in brand and brand strategies, companies can create a strong foundation for long-term success and sustainable growth.
