19 May What Business Brokers Need to Know About Branding Strategy
Business Brokerage Press recently held a webinar about developing one’s brand entitled “Developing Your Brand.” Being a business broker or M&A advisor is about more than just helping other business owners buy and sell their businesses. It is also about being a business owner yourself, and every business owner has to think about the art of branding.
Allie Weaver is the co-founder and creative director at Allie Weaver Productions. During this informative webinar, she shared her views on what it takes to build a dynamic and memorable brand. Weaver endeavors to bridge the gap between the art of storytelling and the science of strategy.
Weaver notes that branding is “The act of giving people a reason to care about your business and a place to belong.” For context, she quotes branding expert Marty Neumeier, who is considered by many to be the father of modern branding. Neumeier states that branding is centered on managing relationships between a company and people over many channels.
Weaver observes that a brand is a customer’s perception about your business. It determines how they feel about your business and how they feel about the services and products that you offer. A consistent brand message over time can shape what customers think about you and what you stand for. As a business owner, you need to be able to answer the following question: why should customers care about you?
In creating a brand, it is vital to remember that brand creation ultimately takes place in the mind of the consumer. Each individual consumer will create their own version of the brand based on his or her perception. And at the core of the entire process is building trust. The goal, both in the short-term and the long-term, is for customers to feel safe enough that they are confident in you, the business broker, to sell a business that they may have spent a lifetime building.
Central to building that trust is demonstrating, in a clear and coherent fashion, how you are going to deliver. Your clients are solely interested in how you will help them achieve a successful deal. As Weaver points out, “Trust is really the currency of today.”
When business brokers and M&A advisors present a clear message, it will overcome any skepticism that they may face. The bottom line is that you must understand your business, what you can offer, and why your services will ultimately be effective in helping people sell their businesses.
