Foundation
To create lasting change, don’t start with “the how.” Instead, start with “the why”, i.e. ensuring that you are working from a healthy set of beliefs and mindsets about what you are setting out to achieve, how brands really work, and how you might need to adopt new ideas, beliefs, attitudes, and mindsets across your organization to create the transformation you’re here to create.
- Rational You don’t have to be the only one in your category / niche / market / industry but you you have to be the only choice for some people there is only one way to create revenue for a business and that’s through the customer and the customer choice is the most important thing and there are three ways to generate revenue from customer
- the amount of customer that buys from you
- customers buy at a higher price
- customer buys more often
Build a brand that your ideal customers will think as their only choice
The Only Strategy
- PRINCIPLES
- SERVE ONLY THE RIGHT CUSTOMERS
- DO SOMETHING FOR YOUR CUSTOMERS THAT NO ONE ELSE DOES
- DO ONLY THE VITAL FEW THINGS THAT REALLY MATTER
- GROW FROM YOUR POWER BASE
- The Only Formula The Only Formula is the step-by-step application process for applying The Only Strategy, and building an “only choice brand” that scales profitably.
- Step 1: Master the fundamentals
- Step 2: Discover your Power Base
- Step 3: Define your Onlyness
- Step 4: Design your extraordinary brand offering
- Step 5: Engage for exponential growth
- Step 6: Operationalize your brand
- Exercise: My results Write down the three most important outcomes you want from this program. Set your expectations high, then commit to making them happen.
- Exercise: My commitment Don’t just wish for change to happen, decide and commit to making it happen. Write down what you will commit to in order to make the most out of this program. Put it into your calendar, or it won’t happen. I commit myself to… I commit myself to… I commit myself to… I commit myself to I understanding g this process so I can replicate it for other people I commit to building up this brand in 5days I commit myself to go through all the exercises and really execute every step accordingly
Well done so far! Remember, persistence is the price of success! Do whatever it takes.
Note – In the next module, you’ll learn all about the Ideal Customer. For now, however, think your Ideal Customer as your best potential customer, someone who needs what (only) you provide, and that can give you what you need (money, impact, etc.) For you to learn from your Ideal Customers, now is an excellent time to reach out to at least five of them and ask them to participate.
- Step 1 We will dive deeper into this in Module 2; however, for now, go with your gut and describe the key characteristics of your ideal customer. Think of what criteria your ideal customer meets. For example:
- Starting entrepreneurs who live in the London area
- Want to outsource social media marketing
- Are willing to pay a fair price for excellent service
- Already have a product that sells
- Don’t have an in-house resource
- Want to double their business in the next 12 months
- Already understand how social media works
- Step 2
- Market Research
Module 2: Customer
The Customer module is dedicated to making choices about which customers to focus on, and to make sure you understand them better than anyone else. Without understanding their dreams, hopes, fears and aspirations, how can you ever be successful? Just think about it; your whole business is predicated on customers choosing you.
Without customers deciding to choose you over other alternatives, you won’t have a business. Therefore, getting crystal clear about who your Ideal Customer is, and digging deep into their minds to uncover their psychology is what sets you up for success. This will eliminate the constant guesswork so many companies engage in, as they lack real customer insights.
This module was designed to:
- Shift your perspective to become truly customer-centric.
- Gain breakthrough customer insights by collaborating with real people.
- Focus on a specific group of customers, category or market where you can create exceptional customer value.
- Create your own Customer Blueprint, an insights document for decision-making and inspiration.
- The One Eighty Prompt Write down 10 most typical business questions brand strategist ask themselves in their words . Then re-frame the same question to make it completely customer-centric. Business questions Customer centric How can we increase our market share How can we help more customers achieve their goals and become loyal advocates What’s our brand identity? How do our customers perceive us, and what values do they associate with our brand? How can we differentiate ourselves from competitors? What unique benefits do our customers gain from choosing our solution over others?” What’s the best marketing channel to reach our audience? Where do our customers spend their time, and how can we engage with them meaningfully? How can we boost brand awareness? How can we help our customers discover solutions to their problems and become aware of our brand? What’s our unique value proposition? What value do our customers perceive in our solution, and how can we enhance it? How can we drive more sales and revenue? How can we help our customers achieve their goals and succeed, leading to increased loyalty and revenue? What’s the most effective messaging strategy? What language and tone resonate with our customers, and how can we communicate our value effectively?” How can we improve our brand image? How can we demonstrate our commitment to our customers’ needs and build trust?” What’s the next big trend in our industry? What emerging needs or challenges will our customers face, and how can we address them innovatively?
- Power Of Ten The Powers of Ten exercise is designed to help you zoom in on the right size of the market. The idea is to start with “the smallest viable market,” then creating exceptional value for that market, allowing you to build a strong brand that scales and grows. The most common problem is that companies try to chase a market that is too big for them, leading them to be crushed by the competition.
- Prompt guide Create a progressively specific target audience description for [industry/field], starting with a general description and narrowing down to a most specific description. Use the following format: General: [Broad industry or field] Specific: [Add characteristics or needs] More Specific: [Add more details, such as location or specific pain points] Most Specific: [Add even more details, such as specific values, goals, or demographics]
- The Power Base Who are they? The real value of your business lie in the quality of the relationships you have with your best customers. Everything you do eventually comes down to what kind of customers you have, because not all customers are going to be equally valuable. Your Power Base is the group of customers that are the most valuable to your business, your “super customers” if you will. To build a unique and profitable brand, define your Power Base, then nurture and grow it. At the root of all profitability lie customers who are willing to pay a premium for your product or service. These are likely to be your most profitable customers. Profitability, then, is one of the most important criteria for your Power Base. Your best customers are often your happiest customers. You do something for them that makes them tick, and this means they are likely to be your best marketing people too. They refer you to their friends, and they root for you. Therefore, your Power Base is your most crucial business asset.The Power Base is central to The Only Strategy, which says that to build a unique brand and a highly profitable business, you must focus only on the right type of customers, providing exceptional value to them, and ignoring everything else. Your best customers are your most profitable customers, and by attracting more of them, you are building the most valuable asset you can have – i.e., customers who think there is no viable substitute for your brand, and who come back to buy more, more often, and at high prices. This is why building an “only choice brand” the holy grail of business. Now, the question is, do you already have a Power Base? And if you do, what are the criteria for your Power Base? About 20% of your customers will account for around 80% of sales. And the same applies to profits. Here lies the key to building a profitable brand and business. You must focus only on the top 20%. But who are they? Well, you’ll be the judge of that. You will set the criteria yourself. Just don’t forget the most important criteria Segment of Powerade clients First Class Business Class Economic Class What are the criteria for First Class Customers? First Class Customers are your dream customers, your ideal customers. They probably buy the most, they bring in the most profits and meet other criteria you might have as well (e.g. great to work with, promotes your brand, etc. This group might typically represent 5-10% of your customer base. Business class customers are your “good” customers. They bring in profitable revenue, although not as much as your First Class Customers. They are good to keep and try to turn into First Class Customers. This group might represent 5-25% of your customer base. Economy Class Customers are “the rest”. They are people with whom you don’t have a special relationship, they don’t buy much, and sometimes they just take up lots of your bandwith without much profit or satisfaction to show for it. Unless you can develop them into better customers, they have got to go! Why is this group important for the business? They have a growth mindset and willingness to learn. They have a clear understanding of their industry and market. They have an established brand with a strong online presence. They have a track record of successful partnerships and collaborations. They have a supportive team and positive company culture. They have a willingness to take calculated risks and innovate. They have a strong sense of accountability and responsibility. They have a clear vision for their customer experience. They have a commitment to quality and excellence. They have a sense of humor and humility. They have:
- A steady income stream
- Room for growth
- Willingness to pay for good solutions
- Respect for our expertise
- Good communication skills
- Focus on achieving their goals
- Moderate loyalty
- Potential to become Dream Clients | They have:
- Limited budget and spending power
- Few or small purchases
- Little to no loyalty
- Often require a lot of support and resources
- May be price-sensitive and demanding
- Don’t value our expertise as much
- Take up time and resources without much return
- May not be a good fit for our business
- Make up a large portion of our customer base (but not ideal)
- Bring in minimal revenue
- Require a lot of effort and support
- Can be draining on resources and time
- May not be worth the investment
- no data or customer insights to make fully informed decisions of their business |
- The Ideal Customer With a truly customer-centric perspective, with a minimum viable market in mind, and with an idea of which customers within that market will make your best customers, it is time to get granular and focus on the one single individual that best represents your best potential customer, your Ideal Customer. The Ideal Customer is a fictional (or real) description of one customer that best represents the characteristics, demographics and psychographics of your target group**. To put it in simpler terms,** the Ideal Customer describes to you Who your best potential customer is (identity),What they want (outcomes),How they want it (experience),and Why they want it (deeper, emotional drivers).The point is to define the Ideal Customer with as much rich detail as possible, so you have crystal- clear clarity on where you should be focusing your efforts.So in other words, discovering your Ideal Customer is like a matching game: you have to know both who they are and what they want, thus your unique skills and market opportunity., you have to know your strengths to define your Ideal Customer. Your Ideal Customer exists at the intersection of “what they want”, “what you want”, and your unique ability to give it to them. You will define your Ideal Customer in the section called Customer Blueprint.
- Marketing Reserch “Please analyze the following statement and categorize the key points into Limiting Beliefs, Target Audience, Desire, Pain Point, Aspiration, and Facts: [Insert your text here].” The entrepreneur’s guide to building a brand (without spending $$$ on brand)Koby Conrad | Substack
- Limiting Beliefs:
- “The question is whether I want to add any more expenses to my setup costs.”
- My background is in marketing (but not as a graphic designer), and I can make a basic wordmark logo and consistent brand colours myself…
- Target Audience:
- marketers – My background is in marketing (but not as a graphic designer).” marketers
- starting, owning, and growing a small business
- Once I saw it was going to take off, I hired a branding/design experts to help.
- Entrepreneurs who are results-oriented and seek branding solutions that can directly impact their bottom line. They’re willing to invest in branding when they see it as a strategic necessity for their business’s success.
- startup
- Desire:
- “I can make a basic wordmark logo and consistent brand colours myself.”
- “…at SOME point I’ll likely want to get a professional designer to help create a more refined look and feel.”
- Pain Point:
- “Balancing the need for professional design with the constraints of a startup budget.”
- The Fiverr logo and website was actually causing them to lose trust because of how generic it was.
- Aspiration:
- “Ensure your brand has a refined and professional look.”
- Facts & opinion
- “I’m in the process of launching my own business.”
- focus on getting everything exactly right can be counterproductive, especially when there isn’t enough data or customer insights to make fully informed decisions. Instead, they suggest that it’s often more beneficial to start with a basic approach and refine the branding as the business grows and gains more experience.
- Don’t let anyone make you believe branding doesn’t matter.
- businesses should invest in basic branding to appear at least semi-professional. proper branding is essential to gain trust and attract customers, and skipping this step can result in lost business opportunities.
- You could DIY and wait to rebrand later but skipping the brand strategy process can slow down your growth and make your messaging/marketing unclear
- To me- investing in your business shows you’re not just a hobby and you trust your vision.
- I was in business about 3-4 months before I paid for branding help. Basically, stuff like branding, I want to know the business is viable using the bare minimum amount of resources possible
- entry levale business owners – worry abt that shit later. get revenue, get clients, get testimony
- That makes sense. Start with something, and do all that letter once you get revenue. Revenue is King. Then you can look at ways to brand.
- What is your business and what do you need your website to do for your business?
- We are located in San Diego, CA. – Group Fitness. Booking classes, Membership options, Account login, etc.
- RIP you inbox. This type of stuff though is kinda what you pay is what you get. Hire a professional. Pick locals in your area get couple quotes like you would do for any other service. Give you a rough idea, just at first glance sounds like it’ll cost you $5k-$15k to start. Thats contextual on how complex your needs are and will go up from there.
- $5k was the first quote we got too. That’s bone-crushingly expensive to me. especially since I never deal with it.
- Setbacks
- Fear of making decisions based on guesses and personal taste
- considering whether or not get any external design support with branding.
- Having a brand you don’t feel 100% confident in can also affect networking and pitching yourself…
- Industry standard
- branding and brand strategy
- Brand designer here! My lowest package is just under $1,000 for a professional word mark and brand guide – which I feel is extremely reasonable for someone just starting out but looking professional (June 2024) current post
- I like to create custom proposals per project but for a strategic brand identity + 5 page website would start around $8,000cad. (June 2024) current post
- marketing and design agency
- content Doing some research on branding and having taste & common sense can sometimes go further than money (when it comes to new small businesses). Graphic design is one of those things everyone thinks they can do – especially with all the new user friendly programs like Canva. You could spend hundreds, but if you don’t know what to look for in someone’s portfolio, it will all go to waste & you might not even realize how crap your logo is. All the cute fancy graphics with script or other hard to read text, or illustrations of people, or ones that include images – those aren’t logos. Simple is better. Logos should work on a billboard or a pen. They should work in black on white. Someone who is smart, creative & tech savvy & spends some time looking into the basic design principles for logos could potentially create something a million times better than some of the “graphic designers” on Etsy. Even if you can’t do it yourself, doing some research will go a long way in picking someone & providing feedback – both now & down the line when you get it redone. Now don’t get me wrong, proper logo design & branding is so valuable. But as a new small business with no idea if it’s going to flop or not, you don’t want all that up front cost & you won’t have the funds for anything great, so you go cheap & will probably get crap anyway – at which point might as well do it yourself. It also depends on your business. Anything art/marketing related, you need an A+ logo, a dentist’s office, nobody gives a crap & making the logo with your eyes closed will probably be better than 50% of your competitors. I studied graphic design, so I did our branding myself & perhaps I’m underestimating how easy it is since it comes second nature to me. But I think with all the information out there on YouTube & TikTok, it’s a lot easier to DIY things. But also in that’s super time consuming so may not even be feasible I just want to chime in and say that yes, you can worry about that stuff a little bit later but at the same time it can really make you look so much more professional and bigger than you actually are, separating you from others with worse branding. I had some knowledge about it myself and had already branded myself a little as a freelance when I decided to start this other separate service. So far it’s just me, but I put in the initial work with the name, a fitting logo and tested different colors on people. Spent a lot of time creating a consistent branding, solid website etc. I also made sure to brand myself by creating material to put on my physical equipment, a hacket when I’m outside, business cards etc. These days I’m reaping the rewards for bothering spending that extra time and effort (or money as it would be in your situation) and people ask me all the time if it’s really just me and some even thought that it was this bigger company that had hired me and stuff. I stand out because of this and I don’t think I would otherwise. At least spend some time getting something initial while starting up if you can, then consider getting professional help when you’re able to. It will help you out, but it may not be crucial just to get started. At least with a base to go off of it will help refining your brand with professional help afterwards.
- Limiting Beliefs:
- HOW TO DEFINE YOUR IDEAL CUSTOMER Here are the necessary questions to define your Ideal Customer:
- What problem can I solve better or differently than anyone else?
- Who has this problem?
- What types of people have this problem? (Consider demographics, industries, roles, etc.)
- How do they want this problem solved? (Consider their preferences, values, and motivations)
- What are their goals and aspirations related to this problem?
- What are their pain points and challenges in solving this problem?
- How do they currently address this problem, and what are the limitations of their current solutions?
- What would be the ideal solution for this problem, and how can I provide it?
- Marketing Reserch “Please analyze the following statement and categorize the key points into Limiting Beliefs, Target Audience, Desire, Pain Point, Aspiration, and Facts: [Insert your text here].” The entrepreneur’s guide to building a brand (without spending $$$ on brand)Koby Conrad | Substack