What do Coca-Cola, Apple, and Nike have in common? Besides being some of the biggest brands in the world, they all have an X-factor that they’ve consistently marketed to their target audience. These companies have found a way to differentiate their brands and win more business. But how can you find your X-factor and create a successful branding strategy?
This blog post will cover how to find your X-factor – that thing that makes your business stand out and grow. We’ll also talk about branding and how to create a brand that resonates with your ideal customers. If you’re looking for ways to take your business to the next level, read on!
What Is An X-Factor?
Your X-factor is a critical performing aspect within your brand that separates you from the competition. It benefits your customers, and when it’s perfectly aligned with your target audience, it turns them into raving fans. Brand advocacy is critical because people constantly look for a context frame. They associate new things with things they knew before.
Customers are always asking themselves: “Does this company provide a service like this other company?” or, “I wonder if this product is better than that one I always buy.” Whether they’re conscious or not, people are wired to create these contexts, so you must ensure they think of you for something in particular – and that thing is your X-factor.
7 Steps To Finding Your X-Factor And Win More Business
1. Think Strategically
Strategic decisions and consistent actions build a stand-out brand. You don’t necessarily want a brand to grow organically but strategically. This mindset will impact your marketing level because the brand is right in the middle of everything.
The brand is the heart and soul of your company. It’s the reputation you have in your community and what people say about you when you’re not in the room. How you build it are the hundreds of micro-decisions and consistent actions that you deliver every single day.
2. Find Out What Makes You Unique
When you work on your brand differentiator, you’ll create that distinction from your competition. You don’t want to play a price war. Instead, you’re going to get hyper-focused on finding why you’re better, different, and special. When you add those layers of information, strategic decisions, and consistent actions, you’ll gain a competitive advantage.
3. Innovation Is Key
Great brands don’t mimic. You’re not supposed to do something just because your competition is doing it. Instead, you should find a way to lead boldly. That’s why brand differentiation means innovation. You don’t have to change who you are but put on the mindset of kicking antiquated traditions to the curb and chart a fresh way.
4. Showcase Value
Your customers should see the value of what you’re offering. They’re not there for just a one-time purchase; they’re investing in their future. You want to show them what your product or service will do for them down the road. When you’re clear about the value you provide, your target audience will be more likely to do business with you.
5. Challenge The Status Quo
The status quo and industry averages are everywhere. Sometimes, business owners get too busy in their day-to-day actions to realize what those perceptions are. So it’s time for you to challenge your status quo before someone else does.
You need to be hyper-aware of your industry. If you’ve been in business for many years, it might be time for you to really look at some of your processes or habits and how you do business or your team operates.
6. Convert Customers Into Raving Fans
After finding your X-factor, you need to elevate that customer loyalty. Focus on making your differentiator known, which will help with word-of-mouth referrals. When you do, there will be a tremendous amount of brand recall, meaning customers will come back and turn into brand advocates.
7. Start Winning More Business
Some business owners question their prices all the time. However, raising your prices requires you to look for ways to hone your niche market and grow intentionally, not just with the flow. It’s essential that you create and drive behaviors through your brand that bring you business. Then you can grow in your offerings and core services to take your business to the next level.
How Do You Build a Brand?
Branding is everything; from your name, your mission statement, your purpose, and how you present yourself to your target audience, all the way down to how you deliver. Your goal should be to create a powerful, memorable expression and experience. Think of your brand as a muscle with 3 living components:
- Verbal Brand: The ability to say powerful and creative taglines, slogans, promises, and all the different verbal nuances in a way that’s memorable to your target audience. This way, your customers know who they’re talking to, and it all comes down to them remembering you. How you speak out of your brand has to be aligned with the way your ideal clients hear you.
- Visual Brand: Your colors, typography, and logo must be relevant, crisp, and modern. Again, they need to attract the ideal clients. If you swing more masculine or more feminine, you need to be able to talk that language. Visually, you have to make it look beautiful for everybody, but it needs to resonate most with your target audience.
- Experiential Brand: Lastly, delivering a remarkable brand experience is fundamental. Remarkable refers to that feeling people have when they know they’re going to have a great experience with you. There are many little intentional ways to create this fantastic brand experience. And it leaves your clients wanting to come back for more, setting an expectation in your audience’s mind.
Benefits Of Defining Your X-Factor
You can expect one to three points of this ROI on your time and effort, including:
- You’ll find your ability to magnetically attract more ideal clients, meaning the best positioned to work with you.
- You’re going to convert more sales faster because you’ll have the right angle, the right message, the right story, and the right value proposition from your X-factor.
- Your customers won’t find what you have to offer at any other place, so they’ll want to come back and do business with you again. When someone thinks they need a different supplier, you’re going to step right in front of them and showcase your differentiator to retain their business longer.
Some Examples Of Successful Branding
Southwest has millions of raving fans who may even go out of their way to travel to Southwest airports because they genuinely love flying with this airline. Their brand is an off-the-charts powerhouse, and they’re doing things in totally different ways from their direct competitors.
First of all, Southwest has coined the term love LUV. They use the word all the time in their slogans: “We LUV to fly,” “You know you’ll LUV where we’ll take you.” The word LUV and the indication of that emotion are present across many pieces of their brand. Additionally, their flight attendants go out of their way to make extra special moments for their flyers or first-time flyers.
Another company that has made its brand X-factor very clear is Chick-Fil-A. They’re a common fast food restaurant. They serve chicken sandwiches at bare bones. But if you drive by a Chick-Fil-A around lunchtime or dinner time, you see employees out in the drive-through lines. This way, they can shorten the waiting times and serve people at a more exceptional level. They’ve brought a face-to-face interaction, which has elevated the entire experience.
Chick-Fil-A even took it further with their verbal brand by taking the most simplistic moment and turning it into something powerful. Whenever you, as a customer, say “thank you” to one of their employees, you’ll hear back two words: “My pleasure.” Chick-Fil-A’s strategy was to create an instantly recognizable response. They went down the deep dive and said, “we’re going to create high touch and high impact moments on our people because we know that’ll set us apart.”
Team Up With Hite Digital OKC And Start Growing Your Business
Now that you know the importance of having an X-factor, it’s time to find yours and start growing your brand. If you’re having trouble getting started, Hite Digital OKC is here for you. We provide digital marketing solutions tailored to your business, but we’re way more than that. We care about people and our goal is to help customers and their businesses reach their full potential.