My corporate life was such a great grounding for understanding a few simple business principles around marketing, positioning of your product and brand, and understanding how to segment your customer.
I got to do incredibly fun things like eat ice cream before it was released to the general public, go people watching to understand their buyer behaviour, and really learn why value and price are so important.
Plus the strategic things like see how the proverbial butterfly flaps its wings in Brazil and causes my kids to create a hurricane in their room. Ok ok its more like see how the demand for resources in China and India causes a downturn in mining jobs in Western Australia (where I live) which in turn sees people reduce their spending on leisure activities.
I also see how often creative and talented women “lowball” themselves – undervaluing their time, their skills and talent, and their expertise, and work really hard to help them break those patterns.
I hear things like “ooh no one would pay $50 for my handmade candle”. “I can’t charge that for an hour of coaching (which probably also includes two hours of typing up notes” “If I increase my price, my business will disappear.” Umm, not if you are providing value, it won’t.
Cue Increasing Brand Value Tip #1
Your Entrepreneurial Mindset…
I would often hear my beautiful and bendy yoga teacher saying the following at the end of a session, and it kinda stuck…
“Watch your thoughts, they become words;
watch your words, they become actions;
watch your actions, they become habits;
watch your habits, they become character;
watch your character, for it becomes your destiny.”
I actually thought that this must have come from Ghandi or Buddha, but turns out this sagely advice for an entrepreneurial mindset is gifted to us from Frank Outlaw, late president of the Bi-Lo supermarket chain.
Lowballing yourself does no one any favours, and if anything, your ability to make significant change through your business venture becomes either really limited OR you get yourself on the fast train to burnout.
Improving your Brand Value Tip #2
Align your position, profit stream and potential customer
This is standing naked in front of a mirror and full on owning your wobbly bits hotness as you strike a pose – but in the business sense.
Lets start with position.
No, I’m not talking downward dog, or any other doggie dog position – I’m talking brand purpose position.
If your purpose is to build connection by being real and funny, let this shine through in your brand. If you love yourself a bit of spiritual woo, show that too. If you are a website building warrior goddess, gorg – let the powers out!
Better yet, combine your superpowers for your point of difference.
There are very successful brands out there who keep it real, like the founder of Scary Mommy, Jill Smokler . If you’ve ever been to Scary Mommy, you most likely felt relieved that you are not the only imperfect parent on the planet (clearly this is turning into a blog where there are alliteration ailments are afoot – apologies! ahaha).
The clever thing about Scary Mommy though is the next part
How they aligned their position with the next part – profit
If you check out ScaryMommy, you will notice all sorts of funny and cool things – and some well placed google ads.
With over 15 million monthly page views back in 2014, those clicks translate to cash. They know their audience is there for the realness.
They aren’t directly selling to their content consumers – but they have customers via advertising – last part of the alignment triple threat.
Potential customers- and those customers care about the traffic.
Awesome alignment and strategy, if you ask moi.
Worried about comparing your sweet self to a supersite???
Don’t fret pet – check out the other awesome mothers below…
Jen from Sea Fog Media does a cracking job at combining both her intuition and her website skills and she knows a ton about the Divi theme for WordPress and how to get the most out your site instead of feeling like you have to pay for leadpages, courseware and all the other bits and bobs. (one to watch, people).
Likewise, another Jen of http://jennifer-franklin.com combines her graphic goddessery with her WordPress wisdom to help any female entrepreneurs get going with websites and graphics, and
The point is, all these amazing mummas defined who they wanted to connect with and went for it – and they have a strategy on how to monetise their skills – which brings me to the next tip…
Increasing your Brand Price Perception Tip #3
Light up your Brand – Literally
If a picture paints a thousand words, then a well photographed product or person procures a pashmina load of profit
If you are thinking about the experience you want your customer to have, this is where a little lighting and thought to placement can make a huge difference. Whether you are a service or a physical product.
How does this relate to being authentic, you ask? When it comes to imagery, it can make a huge difference. I have seen many a beautiful product in real life, yet the lack of lighting or styling makes it less than appealing online.
This is not about changing who you are or what you do, but shining the light on the best bits – like literally.
Now as you guys may be starting to learn, I am a big believer in leveraging your strengths – product styling is so not my thing. nor is photography.
Enter the very talented and ubercool AJ of AJHarringtonphotos .
Whilst her site has loads of valuable information, she has this great post right here which demonstrates the effect of light with before and after shots. Putting your self and your product in the best light can have a dramatic impact.
Think of when tabloid magazines run all those “25 celebrities with no make up” or “celebrities caught with pillow face and bed head”. If that was the constant norm, do you think it would impact their personal brand?
As hard as it is, you need to think about what your customer will connect with. Personally, I’d love to live in a world of pillow face and bed head, but, my friend,
as Madonna says- we are living in a material world, and I am a material girl
(so go get some lighting tips)
Demonstrating the Value of your Brand Tip #4 –
Customer Love + Testimonials
Remember those ideal customers? Guess what – if they are reading testimonials from customers who are “just like them” – you know, past customers or clients who have shared struggles, and they can see their successes, it certainly can help increase the value of your brand.
Not sure how to get them? Ask, but be specific. A great testimonial will showcase the problem they had, what they learned/achieved from working with you, and how they feel afterward. Bonus points if they hone in on your superpowers.
In particular, if you are still working up the courage to increase your pricing, or if you are doing things for free, a great way for your customer to honour your *ahem* discount is to write an authentic rave review for you – on Facebook, on your website, on your course – wherever.
They are particularly useful in sales pages for courses where people start to look for social proof on “should I really invest my time/money” in this product/service/person.
For a long time, I had a ton of hand written testimonials from programs I had delivered just sitting there – even though I knew how valuable they were, I was not leveraging them at all.
Just for shits and giggles, here’s the testimonials from people who have been through the Productive Brand Power Up program
Value through Brand Visibility Tip #5
Show your expertise
Expertise is a great way to add value into your brand (and put your prices where they should be). There are a few different ways to demonstrate your expertise, but one of my favourite is with media – digital, print or TV. Because we all associate someone being on TV or in a relevant site or podcast as being knowledgable – #amiright??
Media is a secret weapon for getting extra visibility and reaching those extra sets of eyes. My friends, Cathy and Andrea over at Ginger Brown are the best when it comes to having expertise down pat for tips and tricks to get your brand featured in prominent media outlets, and get through to the right journos.
I mean, when you appear on a website and you see “As featured in Entrepreneur.com, or HuffPo, or SmartCompany”, your brain starts to go…..hmmm this chick might know a thing or two on the topic I am interested in. I certainly do… Huge power in visualising where you have been featured…
Definitely one for the to do list my lovelies! and little plug to the GB team -check out their course on how to write a brilliant media release for the sweet deal of $49 AUS (so about $38 US, and if you are in the land of tea and crumpets, roughly 25 quid…)
By making a few tweaks here and there, the only step left is to ensure that your pricing is aligning with your ideal customer and the value that you deliver.
To round it out, here are five simple ways to add value to your brand
- Mindset – stop lowballing your skills and start believing in yourself.
- Brand Alignment triple threat – match up your position, profit streams and potential customer
- Light it up – help to increase the price perception and show off all the good bits with great photo skills
- Leverage the customer love and be sure to get testimonials visible where they matter
- Media Visibility – showcase your expertise by getting featured in the media that is relevant to your audience.
And as always, I’d love to hear if you have used one of these tips to increase your brand value, or if you are going to give one of them a try.