What is Operational Branding?
Now more than ever should businesses focus on customer retention, by optimizing their operations and
increasing the use of guerilla marketing. Since the beginning of the pandemic, more than 40% of small
businesses have shut down permanently. According to Moody’s Analytics’ chief economist, Mark Zandi,
well over 1 million businesses failing would not be a surprise. The Small Business Administration (SBA)
has of course provided solutions, but there are still many hurdles that must be overcome for a large
portion of businesses. Though the various pieces of the CARES act have provided a cushion for some black-owned businesses received less than 2% of Paycheck Protection Program (PPP) funds. Subsequently, the
million-dollar question from most owners becomes – How do I continue to generate sustain and maintain
during this indefinite economic hurdle?
Nearly 67% of millennials are looking to capture seats on the entrepreneurial scene and their businesses account for over $1M in average annual revenue. The one commonality as to why this paradigm shift is even possible lies in one word, disrupt. It is increasingly becoming more prevalent that disrupting the status-quo can lead to tremendous opportunity and success in business. This environment of disruption presented a tremendous opportunity for the ‘operational branding powerhouse’, a.k.a. The Business and Brand.
Operational Branding is the alignment of business operations and brand marketing strategies, leading to a maximized ROI for clients. According to Entrepreneur Magazine, among others, two of the top reasons for business failure is poor marketing and lack of a solid business model. Operations and marketing and teams often work in silos, which lead to a disconnect in the brand messaging and the customer experience. This disconnect is what our company addresses. By collectively analyzing where a company is on both fronts, we’re able to develop and implement customized strategies that combine optimized operations with targeted brand marketing efforts. These comprehensive strategies allow for clients to ultimately grow their businesses.
3 Ways Operational Branding Fills the Void
- Decreases Waste and Expenses
Cost is one of the most important things a business owner is concerned about; specifically, operating costs and cost associated with goods sold or COGS. These two figures, among others, derive from the core of the business, the business model. The initial portion of the operational branding methodology is to evaluate the core of the business model, which identifies the operational inefficiencies and process issues. Therefore, the business’ core model and operations can be evaluated and restructured for optimal efficiency.
- Strengthens Your Brand Credibility
Have you ever seen a commercial or ad showing a happy and friendly employee but when you arrive at the store, the employees you encounter are the exact opposite of happy or friendly? What about that strikingly professional-looking logo or website, but when you finally encounter the business, the company’s team, services or actual business doesn’t reflect the same level of professionalism? Brand consistency directly impacts your customer’s experience. It’s also the portion of operational branding that figuratively ‘closes the loop’. It ensures that what you’re portraying to the world is consistent, whether physically or digitally. This means having a fully optimized and high-functioning website that will deeply resonate with the target audience. Additionally, things such as: brand colors, logo consistency, team member uniformity and business card quality, to name a few, would be evaluated.
- Increases Revenue
Without sales (revenue) a business is dead. Aside from cash flow, revenue is one of the main numbers that clearly depicts the financial performance of a company. There are many ways to increase or affect revenue but with the operational branding method, increased revenue is a benefit of a company being at maximum operational branding efficiency. By solidifying the business model, ensuring operational efficiency and portraying brand consistency companies are able to be distinguished from their competition and capture a larger market share.