increasing your brand profitability
5 ways a strong brand makes more money
Did you know your brand is so much more beneficial than just the image you portray? While strategically building a brand is better than not, you’re missing out on a lot of benefits of having a brand if you’re not actively using it! So let’s get into five ways to increase your brand profitability by actually utilizing your brand as a tool in your business.
1. Increase your brand profit by focusing on growth and expansion
Business growth is a critical part of increasing your brand profitability – whether that means hiring help, adding to your service area, accepting new clients, or boosting your visibility. But with so many options for expansion, you gotta make sure you’re choosing the ones that make the most sense. The ones that are keeping you on track toward your mission. The ones you actually feel excited about.
As you actively search for opportunities to grow, your brand will act as your compass to help you decide which opportunities are actually in alignment with your overall vision, which will also lead to profit.
Is that project relevant to the impact you want to make? Will buying that course really help you serve clients better? If you publish this post, will it amplify your message? Does this collaboration match up with your values?
We vastly underestimate the amount of energy decision-making takes, but relying on your brand as your barometer for correct vs. incorrect opportunities is going to make the process a lot more efficient, which will make your business grow a lot faster!
2. When you need motivation and direction
Even the most ambitious and driven entrepreneurs lose traction once in a while. But since we don’t have a middle-management boss mouth-breathing over our shoulders to make sure we get our work done, it’s up to us to keep pushing our brands forward so we can continue to make a profit.
Easier said than done, right? There are a lot of roadblocks in entrepreneurship that make momentum difficult. Sometimes it feels like no one is paying attention. Sometimes it seems like no one cares about the change you want to make. Sometimes you have to jump through bureaucratic hoops and deal with annoying people who disagree or desperately want to keep the status quo.
But here’s the thing about being passionate about your work and the change you want to see: it’s a double-edged sword. If you’re lucky enough to have a vision, you also have a responsibility to keep working toward that vision. I believe this to my core.
So where does your brand come in? It keeps your purpose front and center. It acts as your North Star when you feel stuck or lost or trapped or like you’re not making any progress. If you ever need a burst of motivation, just re-read your brand strategy guideline and be reminded why your work matters. Then get back to work so you can make the changes you want to see in the world – and increase your brand profit in the process!
3. Designing and improving offers to boost your brand profit
Having a logical offer suite is a big part of having a profitable brand. Your offers need to be part of a cohesive whole, but they also need to be distinct so your audience doesn’t get confused about what they need. So how do you find the balance?
Your brand actually acts as a guide for creating this kind of offer suite because understanding your brand means understanding what makes you uniquely qualified to solve the problems you solve. In other words: your signature method!
Increasing your brand profitability is largely dependent on your ability to create offers that people actually want. Mapping out your signature method allows you to promise the same transformation, just on different levels (and at different price points). It also allows you to create endless products and services, all within the scope of your expertise.
If you ever need a quick cash injection, launching an exciting new offer might be the best place to start! Use your signature method to create that new offer instead of relying on the ol’ “throw-spaghetti-and-see-what-sticks” approach – I promise you’ll increase the probability of a successful launch.
4. Irresistible marketing and content
Regardless of how you do it, marketing is what brings in new clients. So if you want to increase your profit in business, it’s less about trying new trendy tactics and more about getting back to basics: understanding your ideal clients and who they want to be. Only then can you create content that gets their attention!
If your marketing feels random, scattered, unfocused, or inconsistent, those are all signs it’s time to revisit the psychology of your ideal client and core brand message (both of which are massive parts of your brand strategy).
Knowing your brand message and ideal client are the keys you need to unlock strategic content and marketing.
If you want focused marketing to increase your brand profit, go back to those two things because they will make it clear how, when, and where to talk to your people.
5. View selling as a service
Put down a finger if you’ve ever felt weird or gross selling! We’ve all been there at one point or another, but it’s really important that entrepreneurs feel empowered to sell because selling means you’re solving problems. And solving problems is how your business changes the world. So instead of avoiding sales, let’s get better at it!
Try this mindset shift: you’re not just selling products and packages. You’re selling solutions. And if you want to do that confidently, you need to really understand the value of what you do so you can communicate it to other people.
And this is where your brand strategy comes in, because it lays out your value proposition in black and white. Understanding the value you bring means you can believe in the value you bring, which means selling changes from a necessary evil into a service you’re providing for others. Yes, you are doing a service by offering a solution to people’s problems!