Most Entrepreneurs I meet are very confident in what they offer (whether that be a product or service or both), yet sales still stagnate and many still struggling to break through that invisible ceiling in their business…
So why don’t more people want what they have to offer?
Some might try to convince them they have a sales problem. And although that’s a legitimate variable to consider …
9 times out of 10 it’s NOT a sales problem.
Let’s take a quick step back for a moment (I promise we’ll come back full circle) …
Imagine you see something you want to buy.
Do you solely base your purchasing decision on the item’s functional value (i.e., what can it do for you)?
Of course not.
Products and services are purchased for reasons much more complex than simply because you “need” them.
As human beings we’re more likely to make our purchase based on the emotions the product or service stirs up inside of us (i.e., what does it make me feel like)? As extreme as it sounds, that’s actually how most people make their purchasing decisions. As far as buying decisions are concerned, our logic informs, but our emotions persuade.
Even as everything else in our outside world continues to evolve, absolutely nothing has changed in our “inner world”.
Interesting enough, a lot of what happens in our brains is emotional, not cognitive. An easy way to think about it is heart over mind.
There are three factors that come into play when determining what products and services you purchase and who you trust to deliver them:
These are Emotional, Functional, and Social components.
Now, when you position your product or service in relation to each of these components, what you are accomplishing is what us marketers call “branding”.
Branding allows you to resonate with your target market on a much deeper level. Not only that, statistics have shown time and again that people are willing to pay more for brands they recognize and have positive feelings towards.
When things are branded, our brains perceive them as more valuable.
For brands that people also feel aligned with …A fierce loyalty can be cultivated. Just think of anyone you know that rides a Harley. How many other companies do you know inspire people to tattoo their bodies with their logo?
To be clear, there is a difference between “brand” and “branding”that you need to understand as well. A person’s mental picture of a product or service or experience is the “brand”… Branding is how you intend to create that mental picture in your customer’s mind.
Branding is achieved through crafting a desirable perception in customers’ minds about your product or service.
Brand = the emotional connection between the client and the entity.
Branding = creating the emotional connection you want with your customer.
Here’s the problem …
Most people hear the word “brand” or “branding” and instantly dismiss it thinking it’s something only big, established businesses need to think about.
A common misconception.
The fact of the matter is, every company needs a voice. Every company needs a way to showcase what their value is and what they stand for.
When your message and positioning resonates at a high level with your target market you can ultimately increase conversion rates, encourage repeat purchases, and ALSO inspire unsolicited referrals and word-of-mouth promotion from raving fans.
Told you I’d bring this around full circle!
Here’s another great example that’s not as obvious.
Think about your favorite musician.
A musician is in the experience creation business. When a musician is able to reach his/her audience by evoking a certain feeling or emotion in them through their music, he/she has succeeded. For people who feel aligned with that musician on an emotional level, a strong loyalty and connection develops.
One of the best unspoken compliments a musician can get is seeing someone actually singing the words of their song, or moving to the beats and rhythm of their music.
Now take a moment to think about your business.
Are you resonating with your target market as effectively as you’d like to be?
Is the face, feeling and messaging of your brand evoking the right emotion and connection with your audience?
If you’re still not sure, here are a few characteristics of a strong brand:
Strong brands sell without promotion.
Apple is a perfect example. Consumers wait in line for hours to get the latest and greatest from Apple (even if they don’t need it). Consumers will even get on waiting lists and pay top dollar (just to be one of the first to get it). Weaker brands wait to be scooped up only when promotions arise and by bargain hunters.
Strong brands create brand loyalty.
Think Amazon. I really don’t think I need to say anything more.
Strong brands don’t poke at people’s pain to evoke the complete “buy in” that you can help them.
Are you creating value, building loyalty and exclusivity? Or are you using scare tactics and evoking fear hoping that will motivate your target audience to buy your product or service?
Now if you’re still not sure …
When’s the last time you spoke to your clients?
You know you’ve nailed your message and positioning when your resonance is directly reflecting back to you like a mirror.
If you struggle with stagnant sales and still haven’t reached the pinnacle of success you first dreamed about when you first started your business, start taking a closer look at your brand, your branding, your message and your positioning.
Because the real competition in today’s marketplace is NOT for the client’s money. The real competition is for their emotions and hearts.
Always remember heart over mind. People don’t buy what they need, they buy what they want. Wants are emotional and will win nearly every time.
Branding is a tough nut to crack for most Entrepreneurs (even the ones that understand marketing). If you need help with your branding (or any of the other three Business Accelerators that can take your business to the 7 or 8-figure mark), consider setting up a discovery call with us to see if you’re a right fit for our Infinite Business Circle.
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- You want to build an Infinite Business to last for generations to come
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Simply fill out our 2-minute application to see if you qualify, and we can also set up a time to chat.