How to Build A Wildly Successful and Profitable Brand
Author: Ines Lotfi December 26 | Blog
Having built what quickly became an eight-figure brand, The Beard Club founder Alex Brown created a strategy that made $10 million in the first year, without relying on email marketing or affiliates, and with limited knowledge of media buying.
In this training, he reveals the big trends that are going on in consumer consciousness that you must harness if you’re going to build an extremely successful and profitable brand.
1. Economic Restructuring
Here’s the thing. The world is moving fast – and slowly but surely, humans are being phased out because we just aren’t efficient.
This may sound like a negative thing, but it’s not. In fact, it’s encouraged the rise of entrepreneurship. A lot of people are starting online businesses, and we’re going to have to start redefining what “work” means.
It’s also causing us to slowly move towards access instead of ownership. Look at streaming services for example. Do people still buy music and movies? Or do they access it through services like Spotify and Netflix?
It’s a trend that’s even noticeable in transport and accommodation, like Uber and Airbnb.
So what’s to say people aren’t going to start doing this with products?
2. Biosphere Consciousness
This goes way beyond just climate change. More and more brands are becoming very sustainability-focused. Is the product sustainable? Is the packaging sustainable? Where are the ingredients sourced from?
People are becoming more aware of what they’re REALLY buying, so as a product or service provider, you should become more aware of what you’re REALLY selling.
3. Social and Political Consciousness
This has a lot to do with manipulating public opinion, which is extremely relevant in this election climate.
A lot of marketers fall into the trap of scaring people into buying things. And that’s not the way to go.
Look at gyms or nutrition apps for example. Instead of solving a problem, they tend to point you towards what is wrong with you. A reality not many people want to face. People aspire to a fit body, but they don’t necessarily want to put in the work, and they definitely don’t want to be confronted with the fact that they’re not.
If you really want to build a successful and profitable brand, you need to be building relationships. And telling people they’re not good enough is not the way to do that.
“Perfection is the enemy of progress.”
So what is a brand?
Well, quite simple, a brand is…
A story beyond your product.
If you want to create a highly profitable brand, you need to create a story that really resonates with people. What is the story you want to tell, and what is the story you want people to tell others when they buy your product?
The Branding Process
The branding process operates through a pretty simple, non-linear cycle.
WHY – WHAT – WHO
WHY does your brand exist?
WHO is this for?
WHAT can you provide for them?
If you want to win in entrepreneurship, whether that’s in wanting to build a profitable ecommerce brand or an agency, you need to truly solve a problem. And in establishing the problem as well as the solution, is where the WHY – WHAT – WHO cycle comes in.
- Why does your brand exist?
- Why are you building this brand and not something else?
- Why do you care?
- Why should someone else care?
More than making money
Your “why” is important. And yes, your “why” can start out just being “making money’. But eventually, you need to connect with a greater “why” than just that.
Remember, great brands have great purpose.
Talk to your customers
Find out your strengths and weaknesses. And the best way to do that is to talk to your customers. See what they like, see what they don’t like.
Your customers are the most important people in your business, but the bigger your business becomes, the more you lose that connection with them. Avoid this, reconnect, keep finding out their motivation, and you’ll never become irrelevant.
Lead with your vision
The truth is that people want to feel like they’re part of something bigger than themselves.
Whether that’s doing a tonne of stuff to help change the environment for the better, or taking a small action towards a good deed, it allows them to take part in in being the change they want to see in the world, and that’s why you need to be leading with your vision.
- Who is this for?
- What do they care about?
- How do you want them to see themselves?
- What are they like?
- What do they WANT to be like?
Be the guide, not the hero
When building brands, there is one thing a LOT of entrepreneurs get wrong. They create a brand, or pitch a service, and make it about them.
But in reality, the customer is the hero. You are just their guide.
Your role is not to be the hero, but to help the customer discover what they have been looking for all along. Guide them on their own journey, not yours. People need to be their own hero. Make it too much about you, performance will suffer.
Find your motorcycle wave
Basically, don’t create your own secret handshake. Hijack an existing one.
Your target audience is already out there, they already communicate with each other, they already have a tribe, and they don’t need a new one.
If you’re creating a new one, you’re just wasting time – there’s plenty of consumers out there that already fit your perfect target description.
- What can you provide for them to accomplish their goals?
- What kind of content do they consume?
- What drives them?
While there are strategies to ecommerce success, there are no secrets. Fulfil your promise. Make. Good. Stuff.
Have a product that people love to buy, and perform a good service. And hey, people make mistakes. All the time. You’re only human.
So the key is not to never mess up, but to own your mistakes and to learn from them. And do better next time.
What are you REALLY selling?
More often than not, you’re not actually selling what you think you’re selling. Your product is only a catalyst.
Here’s an example. If someone orders Facebook ads, they don’t really want Facebook ads. They want to grow their business and make lots of money and buy nice Christmas presents for their families and go on beautiful holidays.
People don’t want a quarter inch drill bit, they want a quarter inch hole. And really, they don’t want a quarter inch hole either, they want to hang a shelf. And then they want to put flowers on that shelf and have someone come in and tell them how nicely they hung up that shelf and how nice the flowers go with the vase they put on top of the shelf.
So you see, it goes so much deeper than what you’re selling.
And once you’ve determined all of these factors and stay ahead of that curve, you can build a strong, profitable brand.
If you enjoyed Alex Brown’s training, go check out FATC for more valuable guest coach trainings.
Enjoyed Alex Brown’s training?
Go check out FATC for more super valuable guest coach training: fatc.cathowell.com
Don’t forget to check out Alex Brown’s amazing ecommerce course!