In any kind of business, more profit is always better.
You’ll get to grow the company, you’ll get to hire more talent, you’ll get to invest back into the company, you’ll get to do a lot of things.
The way to be more profitable is actually pretty simple.
As said by Marty Neumeier, the author of the book The Brand Gap, he said the purpose of your brand is “to get more people to buy more stuff for more years at a higher price.”
So we are talking about branding.
Now, in order to build the leverage that is branding for your business & company, you need to first understand what branding is or better & also, what branding is actually not.
Branding is not a logo. A logo is an useful tool to help people identify your business, it is a mere symbol for your brand, but it is not your brand.
Your brand is not a product. It is not the service you offer. It is not the promise that you make to your customers.
A brand is a result. It is a customer’s gut feeling about a product, service, or company.
It is whatever that ends up in the minds of the customers. They take whatever it is that you throw at them, they make a judgement & create a perception of what they think it is in their minds.
So in a way, there a millions of your brands out there in the world, because there are millions of perception of what it is out there.
A brand is not created by the company, but by the customers. You can only influence & shape how they perceive the company, the rest is up to them.
That means there are millions of different ways for people to say things about your brand, but if you have enough people say the same things, then you have a strong brand.
And the way you achieve that is by being consistent with the signals that you send out to the customers. The things you do for them stacks up & build upon what you want your brand to become.
Your brand is like a reputation. Like a person, we all have a reputation. but it is different based on who it is that you talk to.
It’s what people say about you when you’re not in the room with you. You can’t really control it, but you can influence it.
So to build a brand that is beneficial & advantageous to the company, you need to watch how everyone in the company do things inside & outside of it.
Because everything & everyone in the company affects how the customers will perceive the company which then affects the brand.
So the way to be more profitable is to first be more intentional, or in other words, be strategic.