Does your business provide quality services yet your customers don't like paying you well?
What if I told you that you are responsible for the small money they pay you?
Sounds confusing right? Stay with me for a bit and you will understand what I mean.
So, Check this out …
Mimi is a really good fashion designer, all her customers love the dresses she makes. In fact, some of her customers usually come and stay at her shop just to ensure that she makes their cloths herself. Yes, Mimi is that good.
Anytime her customers wear her cloths to events, they'll be dancing like . . .
But there is a problem.
Mimi's customers don't like paying her well for the cloths she makes. Anytime she charges them even ₦10,000 for one cloth, they go from all smiles to - well let Mummy Patience show us the look.
But ironically, when Mimi's customers make the same cloths at those so called Big Fashion Designers they pay ₦15,000 to over ₦30,000 for the same thing they get from Mimi at less than ₦10,000.
Annoying customers abi?
I know the videos I've shared are a bit dramatic, but this typically describes what most Micro & Small Businesses go through.
Now, you may not be a fashion designer like Mimi, matter of fact you may be in a totally different kind of business, but If this describes what you are experiencing in your business, then this post is going to help you solve this problem by positioning your business to be worth exactly the quality of services you provide. And although there are so many different strategies to solving this problem, the approach we are going to look at in this post today is the importance of branding brand your business.
So What is branding?
Branding simply means distinguishing your business, products or services from your competition. That's all it means, don't allow big dictionary definitions to confuse you.
The truth is that, there are thousands of other businesses providing the same services you are currently offering, and so when you don't distinguish yourself in your market place, it becomes difficult for your customers to attach any form of reverence to your business.
In the case of Mimi and her fashion business, although she is really good at her trade, all her customers see when they look at her is another common tailor.
I want you to take a look at this herd of Zebras for a sec ...
I bet you can't find anything unique here, they are all Zebras and they all have the same colour stripe. If you had to pick one Zebra from this herd for any reason, I am most certain that you will pick just any Zebra, and this is because the zebras all look the same after all.
And you sure will not treat your chosen Zebra particularly special in any way because after all, there were hundreds of other Zebras (options) you could have chosen.
But I strongly believe that if you had found a purple coloured Zebra in that same herd of Zebras, you sure would have quickly chosen the unique one, chances are that you may likely even treat it with reverence because of its outstanding uniqueness.
The is exactly how it is in your market place.
Your customers will only treat you special, when they see that you are unique and special.
And this is what branding means, "Making Your Business Unique and Outstanding in The Eyes Of Your Marketplace".
So how do you brand your business?
Branding your business involves making key strategic decisions in your business and taking actions towards implementing the strategies. Below are some simple steps you can take to brand your business to give it that superior position in your marketplace. The caveat however is that your products or services must be really good for you to succeed.
That been said, lets now look at these steps:
Simple steps to branding your business
Soul & Purpose
Branding your business starts with deciding what you want to be known for. I call this the soul & purpose of a business. You may call it your mission. Being very clear on your mission is very important because It is only when you know what direction to go in your business that you can reach there faster. When you are clear on your mission, your marketing, communication and actions become very focused and congruent. At this point it becomes easier for your customers to find resonance with your products and services.
Secure Your Business Identity
Your business identity is the one single resource you must protect at all cost. And your business identify primarily includes your a Business Name and logo. These are basically your trademarks. This is because, the most distinguishing aspect of your business is how you are called or known. Your Business Name is even more important than the products or services you sell at the moment. And I will be showing you how to secure your Business Identity in just a while. For now, lets see the 3rd step.
Stay True To Your Brand
Building a lasting business brand is about making promises and keeping them. You must stay true to your mission. If your mission is to create the best wedding moments for couples and their families as a wedding planner, then you must ensure that you always deliver 100 and 1 %. This will create track record and also cement your place in the minds of your customers.
Stay Professional
To be seen by your customers as a professional, you must act professional. And this involves ensuring that your business is registered as a company. You must register your business with the CAC, open bank accounts in the name of the business and transact all your business through those accounts. Now imagine if the next time Mimi's (our fashion designer) customers want to pay her, instead of telling them to pay into her personal account as usual, she says "Please Pay Into Our Business Account With Access Bank". I bet you, her customers will begin to see her differently. It is the same for you too. The next time you ask your customers to pay into your Business Bank Account, it instantly gives them the impression that you are upgrading beyond how they have always viewed you.
Am sure you can see that building a strong brand strongly depends on whether your business is registered or not.
You remember when I promised to tell you how to secure your business identity in step 2?
Well, to secure your business identity in Nigeria, you must first register it with the Corporate Affairs Commission. Registering your business name with the commission makes it truly yours, giving you rights to append it to your products or services to distinguish yourself from your competition.
When you register your business with the CAC, you can also open bank accounts in the name of the business and receive payments from customers straight into the business account.
Indeed registering a business with the CAC is the first thing you should have done before you even started operations.
If you are yet to register, follow the guide below.
To register your business with CAC today,
Follow the link below to see how our subcidiary TERMA ICT COMPANY & Partners can help you register seamlessly.
Branding your business can not be done overnight, it takes attention, focus and strategic actions. At Tersur we will be happy to help you create a unique brand for your business. If this is something you are open to, complete the contact form below and our team will contact you.
Also, I would love to hear your feedback with regards to the subject I have discussed here today. So, get into the comments section and I'll be happy to respond to any areas you may have questions about.
Thanks, and keep succeeding in your business.