Building Business Assets

February 27, 2018

 

 

Building An 8-Figure Business Brand

 

Building an 8-Figure Business Brand covers lots of moving parts.  From brand design (logo, color, font, etc.) to the brand promise, personality and finally the brand loyalty.  One main goal for building an 8-Figure Business Brand is to have an 8-Figure Business.  Building business assets, building the brand is one part of the complete picture.  So ensure you have your business brand ready to create brand equity.

 

Clear brand strategy and product alignment

Clear brand design delivers the additional benefit of identifying core assets, which lift business valuation.

With clear brand strategy, you can approach the business, management team and board with increased focus and impact. It’s easier for everyone to understand the business direction and appreciate the full value in the business. This understanding, in turn, helps the board and management team make better decisions regarding funding and positioning.

At this point you can move into aligning your product(s) with the brand DNA and convert the market more easily. Instead of this ‘brand first, product second’ approach, most people dive straight into product and channel design. As a result of missing out on brand, they’re usually left wondering why they have to work so hard to convert the market.

And the brand process doesn’t take forever. Imagine taking a month out to design your brand fully. Once you understand the various aspects of brand, your product architecture will fall straight out. Then it's much easier to start converting the market and drive revenue.

Build client relationships much faster

The next step designs and connects your channels to activate engagement and speed up client relationship building. What that means in early-stage business for example, is building your community – the network that will drive sales for you.

Large organisations constantly commission expensive consumer research to see if a new product will sell. The Enterprise Businesses market today doesn’t need – and most can't afford – to spend that sort of money. With a community built according to your brand and market position there’s no real need.

Imagine opening your product up to your network using our TRI process (Test, Redesign and Iterate). Test with your community, redesign and iterate depending on feedback.

If you invite your community to a workshop and people don’t respond, it suggests they aren’t interested in your offer. If you get 100 people signing up immediately, you're on to something. It's a cheap, quick and easy way to open your channels and engage people.

Build your data asset

It's also cheap, quick and easy to build data, which in itself creates business value. The process of community engagement speeds up relationship building and data becomes a business asset that will attract partners.

With big data – or better still engaged, analysed data and a significant community following – large corporate partners, influencers and people in your industry will be drawn to work with you because your asset has value. When delivering your marketing campaign, it will unite the sales process and create sales volume.

Our approach to brand building assisted with  one client jump from a single retail shop selling 200 pairs of shoes to 450 retail stores in nine months. Ready to get the most out of your business? Sign-up for a weekly dose of free business resources.

 

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