Why is your brand important in the mechanical services industry?
Investing time, money and energy into something that can seem intangible is often a difficult conversation.
Add in some scepticism about the merit of the undertaking in the first place and more often than not, things don’t get far.
Branding is one of these undertakings. And businesses in the mechanical services industry are often found guilty of both lacking in brand focus, and having plenty of scepticism. Branding is undervalued and overlooked frequently – often to a business’s detriment.
So how do we talk to our clients about the importance of branding, and that it’s honestly worth every investment of time, money and energy? Here’s some insights:
Being clear on what branding actually is
There’s absolutely no point in trying to talk to business owners and operators about embarking on branding (or rebranding) if they’re not clear on what it is.
A brand is essentially how your audience feels about you. And that is a very powerful thing.
The emotional connection (or lack of) a person has with a brand can dictate their loyalty to you, what they’re willing to spend, their likelihood of recommending you and so much more.
While we can’t directly control how people feel about a brand, we can take many careful steps to build an authentic brand from the ground up in a way that positively impacts public perception.
The truth is, you’re ‘doing branding’ whether you try to or not — the difference is whether you do it in a controlled and effective way.
Let’s also clear up what branding isn’t. Branding isn’t a logo. Branding isn’t a product. Branding isn’t a brochure. Branding isn’t a business card. Branding isn’t a website. Branding isn’t a social media post. Branding isn’t your gun salesperson that could leave or get hit by a bus tomorrow - taking your customers with them. And branding isn’t the owner of the business.
While branding is intangible to a degree, it will have a momentous impact on all aspects of your business. In fact, it will make every element that you invest in for your business significantly better.
Let’s look at the benefits to your bottom line
When talking about the value of branding, it often comes down to proving that it will have a good return on investment. Thankfully branding has an excellent track record.
If you are a business that is aligned with your market’s core values and your branding reflects this, you will enjoy far more loyalty than competitors. Across all industries, 89% of customers stay loyal to brands that share their values, and 59% of consumers opt to buy new products from brands they trust - we don’t believe these numbers would vary greatly in the mechanical services and trade industries. Because who doesn’t want to buy from brands you know and trust - and usually buy repeatedly.
Taking the time to design a compelling and meaningful brand that presents consistently across all platforms has been found to increase revenue by up to 23%. Sounds like a worthwhile investment to us.
At the same time as bringing in more revenue, branding can also save you from needless focus and spending on people and things that aren’t aligned with the brand.
As well impacting your customers, branding can make a difference to how your business functions internally too. The emotions your brand evoke (good or bad) can extend to your workplace culture. Strong, positive branding has been known to translate to a happier, more productive team and increased staff retention. Can you put a price on that?
Let’s audit the existing brand
Is it something you are proud of?
Is it something your team are proud of (ask them, you might be surprised at the responses)?
Is it consistent? Or deep down, is that voice inside of you saying it’s been the same for 5, 10, even 20 years now, and you know it’s been neglected and needs work? Is it genuinely representative of who your company is and what you do?
Rarely do we get convincing yes’s to all of these questions.
Auditing your brand is an opportunity to get up to speed on the perceptions of your brand in the market, what makes you stand out in your field, and your weaknesses or areas for improvement.
Through this process you will likely start to see gaps and holes where there should be positive recognition, growth, and customer loyalty.
And if you were to sell your business tomorrow - how much equity is in your brand that could either add value, or alternatively decrease, your sell price? Branding efforts compound, and we are here to help you get started today.