07/04/2021
THE UGLY TRUTH ABOUT BUILDING A SUCCESSFUL BRAND
The stats are right;
“Brands with a well-articulated purpose grows 2x faster than others.”
Many founders and marketing leaders think their company has a defined purpose, but in reality, only 1 out of 10 of these companies actually have a purpose that’s backed by a meaningful action plan.
What if I told you that two-third of your target customers (Gen Z and Millennials) prefer brands that:
• Have a point of view, and
• Stand for something.
It gives them a feeling of trust towards the brand. And imprints on their mind that such brand will be around for a long time.
Do you know the amount of sales you’re losing to your competitors just because you don’t have an effective brand purpose?
Do you even realize the amount of repeat customers, you have lost to your competitors?
THE 20/80 RULE OF THE BUSINESS WORLD
They say, 20% of brands gets 80% of customers. The 20/80 rule applies here too.
As it is less than 20% of brands that have a well-articulated brand purpose, those are the ones that take more than 80% of the customers.
What’s a brand purpose: It is the reason why a company or a brand exists beyond making money.
Let’s consider a case study, the “MTN” brand.
MTN as a brand has a tagline of “Everywhere you go” and brand mission;
“To make our customer’s lives a whole lot BRIGHTER. We do this by delivering relevant, accessible, high quality telecommunications solutions that put them in control”.
They have held onto this promise made to customers to a great extent. And yes, MTN is the largest mobile network operator in Africa.
Does your brand have a purpose, beyond making money?
If yes, is the purpose well articulated?
Stop leaving too much money on the table.
Stop putting yourself at the level of the regular brands all over the place,
Crowding it up, but doing so little.
Be Unique, Win with A Purpose.
A PURPOSE DRIVEN BRAND.
Need help leveling up your brand and effectively articulating your brand purpose?
Click here: https://caleboluwole.disha.page