Effective Strategies To Expand Your Business

Branding

We’ve learned that incremental changes are the best in achieving long-term, lasting growth.

That’s why we’re advising you to focus on one stage first, and then go up from there.

Ever wanted to know how to adjust your brand when looking to extend it into foreign ever-growing markets?

If others did it, so can you!

So did we! It’s pretty much like getting to the next level within your favorite game. Only now you are in charge of the strategy used to get there. Here’s some advice to guide you on the way to branding greatness.

1. Motivation for Expansion

Every entrepreneur wants to extend their business to larger audiences. After all, a growing business may open doors for so many opportunities. Especially when you’ve outgrown your area.
But you know what? It’s not as easy as it seems at first glance. There are many aspects to consider and things to keep in mind. However, there are some good strategies and practices that you can follow. That way, you can maintain a steady pace on your journey to first local and then even global acclaim and recognition. This chapter will look into the most effective branding strategies that will turn your business into a local and even global force.

2. Dominate Your Craft and Become the Best Local Business

A business starts with an idea and that idea has to actually solve a problem, a need. If you want to stand out and succeed, these two need to create a synergy each time you come in contact with your customers.

Your offering needs to be constantly solving their problems.

To this simple equation, we’ll add many more branding tools, so you can truly dominate!

But how, you ask?

The first step is actually being a professional at what you do and bringing as much value as you can to your customers.

Let’s say your craft is coffee-making and you own a coffee-shop. Apart from brewing an exceptional array of beverages to have on lunch break, you can add a small library, or offer co-working spaces for your lovely clients.

The second thing is to gradually begin targeting new customer markets. In order to effectively do that, you need to ramp up your advertising efforts.

Continuing our example above, you could first start to open a few more coffee places in your town, then look into the conditions of neighboring cities, only to – why not?! – become a globally recognized coffee spot for young, entrepreneurial book lovers. Wonderful!

This leads us right into the third: be easily remembered.

The goal of marketing..

..is to communicate the right message, to the right audience, for the right amount of times.​ People are remembered for having a unique personality and a distinct image. Businesses achieve that through pretty much the same things, a unique visual identity, and personality.
This identity isn’t one that needs guessing, right?

And it all starts with a logo.

Once you have the sign that tells you apart from local competitors, you can be easily recognized by clients, known and trusted for the great quality products and/or services you bring to the market. The logo and a full branding package are just the starting point for your journey to (if you so wish it) Becoming the best at a larger scale.

3. Expand Through Mergers or Acquisitions

There’s an old African proverb that points out the importance of partnerships on the way of achieving great things:

“If you want to go fast, go alone. If you want to go far, go together.”

The best conquerors were wise enough to make alliances and continue expanding their reigns until becoming empires. Some even settled and, with time, blended into new structures through assimilation.

Likewise, businesses can become stronger by expanding through mergers or acquisitions.

As you are a business owner, these things may already be familiar or already happening. Either case, here is what Investopedia tells us about these terms:

“Mergers and acquisitions (M&A) is a general term used to describe the consolidation of companies or assets through various types of financial transactions, including mergers, acquisitions, consolidations, tender offers, purchase of assets and management acquisitions.”

We truly believe that when you join forces with similar businesses, you not only increase your reach but also the skillset offered to potential clients. It all starts with collaborations, then partnerships, and inviting other companies to join you in the mission you set out for your brand: expand and help as many people as you can, while increasing revenue and building a legacy. Imagine being mentioned 50… 80 years from now, maybe as a world-class example of a simple yet efficient business model, inspiring future generations of entrepreneurs.

4. Why Not Expand As A Franchise?

Did you outgrow your local area? Why not considering going all in and turn your already powerful local business into a franchise? We’re sure you are familiar with the concept, but briefly a franchise is:

“the right to sell a company’s products in a particular area using the company’s name”.

We’ve all might have seen a Starbucks just around the corner, in most of the places we’ve traveled. Or an IKEA. Or a H&M. And that’s not to speak about McDonald’s! You shouldn’t be discouraged, as all these global businesses started out as small businesses, targeting their local customers. Then came the tactics and collaborations that launched all of them into commercial stratosphere. Once again, they all started like the rest of us! This is what we mean… 1971, Starbucks opens first store in Seattle’s Pike Place Market. 2019? 31,256 stores.
Between the 1940’s and 1950’s, the IKEA brand is being developed into a furniture retailer. Today, the IKEA Group has 313 IKEA stores in 38 countries. From the total, 37 stores are owned and run by franchisees outside the IKEA Group in 17 countries.
The first Hennes store opened in 1947. As of 2019, the number has increased to a total of 4,414.
In 1948, the McDonald brothers were streamlining their production, and in 1954, Ray Kroc became their franchise agent. The McDonalds we know today, opened in Illinois, back in 1955. The brand had its most recent opening in Kazakhstan in 2016.
Basically, by franchising, you’re allowing your brand’s name to travel further than the local area you started your business. This is especially true for brick-and-mortar companies, but you can also expand an online business, by using paid advertising. But for all THOSE tricks… you’ll have to revert to Chapter 5. It’s OK. We’ll wait! … Assuming you went back and took a peek at what we told you about using ad tools, let’s move further along in our branding journey!

5. Finally, why not become a global brand?

You did it! You finally did it! Those long nights, busy weekdays and countless plans and strategies have now paid off! Putting in the effort, dedication and expertise rose you to the top of the market, and now you are a world-renowned brand! This is the dream we wish to help all of our small business clients achieve!

Long gone are the days of medieval conquering, but the marketplace is still a pretty competitive place!

In order to become a leader of your industry, you need a lot of things: an idea, a vision, courage and ambition, tools to accelerate processes and make things more efficient.

Last, but not least, great teams that will make your brand shine.

Everything requires passion, dedication, and skills.

But it all starts with a distinct logo that visually story tells the vision behind your brand.

And like the powerful symbols that are found all over medieval mythology, modern-day businesses can start their very own empires. Convincing one client at a time through the power of visual branding.

6. Conclusion

Going global might be a lengthy process that will require a lot of self-discipline and hard work, but it will ultimately pay off in the end. As we went through this chapter, we shaped a general direction in which you can steer your marketing and budgeting, making every investment count in order to achieve your desired target. Whether you love being the heart of your local neighborhood and only wish to polish your look… Or are already expanding and need some brand touch-up… And maybe you even have your eyes on offering your skills worldwide…
In each case, we have your back! We know first-hand how difficult is for small businesses to afford high-quality logo design and branding packages. And we also know that once you have these, it skyrockets your confidence in taking your business to new heights! As we said, it starts with a logo. And if you follow the practices we outlined above, you will surely make the process faster and easier both for yourself and for your business. Have you tried those one-of-a-kind logos we have at NewGlue? Hurry up! Once they’re chosen by other businesses, they are no longer available on the site.

Key Takeaways

Remember that in order to expand and grow your business, bringing your great idea to new heights, you have to look into four main strategies:
  1. Have a great motivation for doing the expansion altogether! Maybe you love being local.
  2. Become the best in your local area. Grow a family-like clientele.
  3. Expand through mergers and acquisitions. Create collaborations that will help you grow.
  4. Try offering your own franchise! Extend your trademark to like-minded entrepreneurs!
  5. Become a global brand. Grow your influence and leave a legacy!
Good luck! Do drop us a line to tell how it all went!

Jonas

by Jonas

Favorite Branding: Preem

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