Site icon Arshad Hasnain

Thorough Brand Audit: How To Drive Growth?

Thorough Brand Audit: How To Drive Growth?

Remember where we left last time?

The Easy Way Out? (Finding out who you are)

Start with:

Preferably write this down on a piece of paper and keep it handy .

Look here how I have made this converge into who I am. You can do the same for your story.

Next:

What are the factors that drive growth? Let’s look at some research in this direction. Multiple studies reveal that organizations growing at the rate of 6% can tell you some secrets. Here are some important cues to decipher.

The top 3 factors contributing growth are:

Happy Customers contribute to business growth (no brainer). Customers or clients are the lifeblood of any business. Happy customers mean not just more business… but lesser overheads, lower customer dissat, employee stress and fatigue and above all an internal nontoxic service environment. Voila you have a brand that supports business growth and expansion.

The talent and effectiveness of employees come next. Highly motivated, engaged and equipped workforce can do wonders. You got to empower your employees to bring the best out of them and serve the customers in the best way possible. This means right capabilities within functional departments and understanding of the common goals.

Making profits in business. No business will survive without making profits. You need to plan ahead keep expenses in control and invest where the returns are…Sounds easy right? But this is where many miss it. You got to stay ahead of the competition, bring more value and continue disrupting the market. Got to figure new and innovative approach to solve all the problems.

Branding yourself starts with an extensive brand audit. Got to understand how the customers perceive your brand and what may move the lever of your business growth.

Talk to customers or employees, figure out the margins the way they are…Ask questions. How can you sell more with less effort? Can you price your products higher? Can you enter the market with a new product? Can you address a new need and solve a different problem? Can you reinvent yourself?

This will require research and any business big or small should clearly lay down its path for growth. It should identify bottlenecks and remove them, embrace new technology, tools, and techniques that give a leg up, think differently and continuously innovate.

This will be slightly different if you are a startup or a small business that wants a fresh look to its branding strategy. If you are a startup or small business (never took branding seriously) you will need to understand your market thoroughly and rebrand.

You will have to study your ideal prospect and run tests to understand if you are targeting the right people. With a prototype in hand or not its always advisable to understand how your product or service shall be used…What problem will it solve, How important is solution provided for the customer? Will he/she pull out there wallet/purse to pay for your product or service?

This stage is crucial for any brand before it can become. You see you got to have a market for your product and potential buyers who will find it really useful. Miss this and you will fail. This is not just about getting the right product or service but also reaching the customer at right time.

Work all this out and you have a foundation to build an impeccable brand or take existing one to whole new heights.

Want help in figuring out who you are and where you should start with branding your business. Click here to claim your FREE 15 minute consult.

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