How Leveraging Your Assets Builds Your Brand
Many of the recent discussions I find myself involved with have been about marketing my clients brand and building a bolder presence.
Many people look for advice as to how to better penetrate a customer demographic, improve service, establish a new retail or revenue line or other ways they can improve weak areas and grow.
Most of them are taken aback when I inform them that we should not focus on their weaknesses and opportunities, but rather on their strengths. When I tell them that we need to look at what they do well, assess what total assets they have collectively as a company and that we need to leverage that, they sit their rather stunned.
It’s because in a competitive environment where we’re always trying to improve, we often forget what we have and fail to play to our strengths.
Here’s the comparison I used with a prospect earlier this week. An improvisational actor is trained to consider everything onstage that they can use in their performance. The scene, the audience, the other actors (if any) and the props are the only things they have going for them during that scene and they need to leverage that in order to perform. They can’t worry about what they don’t have; the only thing that matters is what they have right then and there and how they can use it to engage their audience.
Or if you play a game like Scrabble, you have to make use of the assets – the tiles – in front of you. Knowing how to play with those tiles will enable you to gain points. Knowing how to use your company’s assets that you have in front of you, or right under your nose, will allow you to gain customers and market share.
In order for a business to strongly engage with their customers and their audience, the organization must know who they are and grow their brand based off of their current assets to develop that image and deeper relationship with their clientele.
Assets can come in many forms. Here are some examples to generate some thoughts as to what you might already have:
- Your brand logo
- Your physical location(s) – office, retail, warehouse
- Your people
- Your green and sustainable initiatives
- The user experience (UX) in your online platforms
- Your financial stability
- Raving customers
- Employee promoters
- GlassDoor ratings
- How easy customer complaints are rectified
- How you connect with your customers
- Community or philanthropic endeavors
- Your culture and overall vision
- Your products
- That new chef, manager, marketing person, technician who just started
- The customer who has been loyal for 20+ years
- How you’re disrupting the marketplace
- Your attentive service and acknowledgement of your customers
- How you’ve adapted to disruption across 3 generations
Every company has something positive to promote and leverage. These are the ingredients that make an organization what they are, differentiate it, and bring clients and customers to themselves.
We can try to reinvent ourselves constantly in trying to find new ways to market and grow. This may work, or might confuse current customers as well as those you hope to bring abroad. Or we can be like Pepsi, who has managed to stay hip and relevant by playing to their brand and trendiness for so many years. Their message has adapted to the current culture and generational influences over time, but they continue to market to their brand consistently with tremendous results.
Take stock of the assets in your organization and leverage them to the max. It’s the best and most consistent way to build a stronger brand.