In 2023, all businesses must have a deep understanding of how to build their brand. This can be an essential step in allowing improved levels of brand recognition to take place, which can then lead to consumers becoming loyal to the brand and making repeat purchases. In short, improving band image and brand recognition can be a key strategy to ensure the long-term viability of any organization.
Competition in every sector of commerce can be intense, and the growth of ecommerce has meant that many companies now need to offer unique benefits to their customers in order to differentiate their offerings and build a distinctive brand.
If you are a business owner or leader you will be seeking ways in which you can build your brand to achieve long-term and sustainable growth. In this article, three unique strategies will be discussed that allow this to take place.
Innovative payment solutions
The use of innovative payment solutions is a key area for all businesses in the modern world of trading. For example, research has shown that businesses that offer a gift card program for their customers are able to generate higher levels of brand loyalty. It is estimated that the average consumer spends $38 more than the pre-loaded amount on a gift card in a standard transaction. Put simply, this can lead to increased revenues from sales and an increasingly loyal customer base.
Several organizations offer gift card programs that can be rolled out by businesses to entice their customers to spend more. In America, the Blackhawk gift card is commonly used to fund purchases in a range of grocery stores. Other gift cards are available from payment solution providers that allow a Blackhawk Network comparison to take place so you can see how these compare for consumers using the product.
It is widely recognized that all consumers like to make savings on their purchases. A company that offers a range of promotions on its company website can help to entice customers back to the site to make repeat purchases and become more loyal to the brand. In fact, this can be a key way to ensure the cultivation of a loyal customer base. Promotions can range from free shipping on goods above a certain value to points schemes that offer the consumer a way to accrue credit by making repeat purchases. You can read more about the wide range of website promotional strategies that can be used to build brand loyalty here.
Partner with charities
As a final point, it can be incredibly beneficial to partner up with a worthwhile charity whose values and mission statements resonate with your customer base. This can be a key way to boost the brand image of your company, as customers will associate your organization with helping others and giving back to the community. For example, in recent years Starbucks partnered with the charity Mermaids, which helps communities discuss LGBTQ+ issues and is a focal point for helping people to explore their identity. Consider the key values and aspirations of your target market and then explore a range of suitable charities that align with your customers.