Dallas Business Consultant Elijah ClarkDallas Business Consultant Elijah Clark

Branding Benefits

To say that you need a brandĀ to be successful is inaccurate. The laundry mat or embroidery shop up the street do not have a brand and they are doing very well. Whether you need a brand is dependent on the goal of your business. For example, if you are a service based business, or simply have a business that is in demand, then having a strong brand is not needed considering customers will seek you out and already know what they want, how they want it, and at what speed and price they want it. Think, where does the local school purchase its school buses? Have you ever seen a school bus manufacturer advertise their brand on television or at local events?

You do, however, need to have a brandĀ if you have significant competitionĀ and if you have a niche product which requires educating customers. The goal of a brand is to provide customers with reasons to purchase your product or service over the competition. Without a solid brand, it makes marketingĀ and customer acquisition expensive and time consuming. A brand gives your business its unique character – its look and feel, voice, and identity. Without its image, Nike is just one more shoemaker, and Macy’s is simply another retailer. A good brand should have a foundation based on value and customer engagement. The brand should represent the mission of your business and hold relevancy to your customers.

Perceived Value. Your brandĀ should reflect the goal of your business by highlighting your strengths and encouraging a positive perception. Perceived value influences the amount of money your customer believes your product or service is worth. Whether marketingĀ a service or a product, the results are similar in that both rely on the customer’s perception of your business’s expertise, quality, and reputation.

If your business and your competitors sell the exact same item, built the same way, and from the same materials, it is likely that the business with the better brandĀ value reputationĀ will sell the item at a higher rate because of the perceived value by the customer. If your customer perceives the value of your brand as high, they will likely make assumptions that the products you promote are of high-quality as well.

CMS Benefits

Having fresh content is mandatory if your intent is to drive traffic to your site to gain new and repeat customers. With a CMS, you can keep your website updated with the latest news, articles, products, and services. A CMS provides you with full control to manage the content on your website.

Updating. A CMSĀ allows your websiteĀ to have new content added on a regular basis and be easily upgraded with the latest technology as it becomes available.Ā Additionally, a CMS gives you full control so that you can easily add new updates and blogsĀ to your website without having to call a programmer to do it for you.

With a CMS, you can easily implement, update, and manage:

  • Article publishing
  • Website forums
  • Photo galleries
  • Surveys and polls
  • Interactive event calendars
  • Complex data entry forms

Management. Through the use of a CRM, websiteĀ content can be managed through a simple user interface that allows for quick task completion. The administration area of a CRM is often easy to use and can involve multiple access levels for various employees and managementĀ control.

Relationship Benefits

Building relationshipsĀ with your customers is a must when looking to start and grow your business. Some of the substantial benefits of building a quality relationshipĀ with customers are explained below.

Customer Satisfaction: Customer satisfaction is an important measurement of how a product or service meets or surpasses the customer’s needs. It is a reliable indication of the potential for repeat business and brand loyalty. Customer satisfaction can be attained only if your customer has an overall good relationshipĀ with your business and you consistently meet or exceed their expectations. In today’s competitive marketplace, customer satisfaction is an important performance factor and a basic differentiator of business strategies. Hence, the more satisfied the customer, the stronger the bond they have with your business.

Customer Retention: Customer retention is a strategic process to keep or retain your existing customers and deter them from using other suppliers or organizations. This is only possible when there is a quality relationshipĀ between your business and the customer. Usually, a customer will remain loyal to a particular brandĀ or product as their needs grow and only if those needs are properly fulfilled.

Referrals: The most cost effective approach to grow your customer base is through referrals. When customers feel satisfied, they are encouraged to become brandĀ advocates for your business. These referrals are beneficial for your business considering there is little to no cost associated with this process. Referrals are an optimal form of marketingĀ and profit generation.

Revenue Growth: When your business maintains a healthy relationshipĀ with customers, revenue will always increase considering current happy customers tend to purchase more. There is also the potential for a satisfied customer to purchase additional products or services when offered the option to bundle those products and services. For instance, if a satisfied loyalĀ customer has home insurance from an insurance company that they trust, there is a high probability that the customer will also purchase property and auto insurance from that same company.

Retention Cost: The cost to service existing satisfied customers is substantially less expensive than that of acquiring new customers considering there is no acquisition cost, your business should already know the needs and wants of existing customers, and active customers will have fewer queries and complaints as they are already aware of your business’s processes, products, and checkout flow.

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