As a small business owner, spending time to build brand awareness and visibility can invite huge returns. Your service is important and has the potential to impact so many customers - they might not know it yet. With these tactics, you can elevate your business’s brand awareness as well as engagement with employees and customers. Let’s help reroute them to your door.
1. Establish a referral marketing system
By encouraging customers to promote your business through word-of-mouth, you can drastically expand your customer base. The revenue per customer can multiply with each referral. An impressed customer can bring your business into conversations within
their networks, building brand awareness and credibility on an ongoing basis — with minimal operational effort. All you have to do is communicate referral incentives and outperform your existing customers’ expectations, and they will gladly do the rest.
Word-of-mouth can be 2-10X more effective in attracting customers than paid media.
For example, if a client successfully recruits a customer for your business, they may receive a discount on your services in the future. Our Sages can help you effectively plan and reconcile marketing ambitions with financial resources.
Resources to help you launch a referral program in minutes:
2. Source strategic partnerships
Your product/service does not have to solve all of your target customer’s pain points on its own. There are likely many businesses addressing similar problems. Through partnering with complementary businesses, you can drive each other’s revenue and bolster the overall value delivered to customers.
Selecting the right partnership(s) can be tricky and requires considerations about the business and leadership. Ideally, your partnering business would offer a similar vein of offerings but would not directly compete with your product/service.
Think about your target customer: How can they best be positioned to get the most value from your product/service. After they use your product/service, what needs may they have in the future? These questions can help direct you to potential partners.
It is also important that your partners generally align with your organization’s culture and mission. When you join a strategic partnership, your partner’s business indirectly affects your business’s image.
For guidance about selecting strategic partners and forming productive working relationships, schedule a 1:1 appointment with our Sages.
3. Narrow your brand identity
In order to maximize the value from your marketing efforts, you should be able to concisely articulate your product/service’s unique value proposition to your target market. Being able to articulate your brand identity with the right level of abstraction - not too specific yet not too vague - will help potential customers remember your brand. It will also help customers clearly share your brand through word-of-mouth and help strategic partners understand the value of working with you.
Sitting down with your team to clarify and revise your brand identity can have exponential returns in terms of enhancing the value of marketing and sales efforts while ensuring that everyone is on the same page.
Identifying what your brand is — and is not — can be challenging, but fortunately our Sages are here to guide you in every step of the process.