Brand Networking for brand equity, increased revenue, and even more organic sales
Updated: Jun 28, 2022
It's more common sense than anything else, and yet it warrants a conversation to keep it in our awareness when it comes to leveraging NextGen business growth.
Brand Networking is a term that emerged when I was revisiting my past materials on creating brand equity.
Specifically, I was examining how best to upgrade the four stages a brand will move through to generate;
ever more brand equity
increased revenue from selling to a new-to-you audience
securing organic growth from existing clients
That upgraded approach to creating brand equity is here for your reference:
Those 5 stages hold true
1. Brand Awareness - the art and science of being discovered is required for you to become known,
2. Brand Awareness applied consistently, aka being known - facilitates brand recognition and thus you being liked,
3. Brand Recognition and being liked makes way for brand preference and you being experienced as trustworthy, and those 3 seps combined yield brand loyalty
4. Brand loyalty means you are enjoying some love from your clients.
5. I'd like to suggest a 5th destination on the brand journey - specifically, Inner Circle - the place where you and your clients co-create innovation and leverage respective assets to facilitate growth for a collective.
...the quality of your sales funnel & the value of your brand equity, is proportional to the quality of your brand networking.
I have an article here that unpacks what quality brand networking looks like at each of those 5 stages.
It's a deeper dive that uses a sales funnel structure to present the ideas along the brand networking roadmap to inspire your own business growth efforts.
Of course, if you don't want to do this on your own, we offer Financial Services firms a free 45-Minute Consultation to sketch out a viable way forward that uses what you have and where you are with what's possible, to get you realising your commercial goals. Details of that free consultation can be found over here >>