Speeding up brand growth

Speeding up brand growth

As global economic conditions continue to challenge many established businesses, entrepreneurs are finding new and innovative ways to adapt. Ashleigh Donald, co-founder of Halo Business Consulting, explores how spirited business minds are accelerating the growth of their brands.

Some of today’s largest brands, including Disney, Hyatt, Microsoft, Netflix and Airbnb, were born out of recessions; they were able to shift their focus and offer a product or service long before the pandemic pivot became a thing.
“Accelerating Entrepreneurial Brand Growth” was a fascinating topic at the recent Future Hospitality Summit (FHS) in Dubai, where two inspiring entrepreneurs shared their insights on growing restaurant brands. Roaya Saleh, founder of Villa Mamas in Bahrain and London, and Fay Economides, co-owner of Mythos and Nola in Dubai, both stressed that authenticity, consistency and trust were core to establishing and growing brands.
Annick Van Overstraeten, CEO of Le Pain Quotidien, echoed these sentiments, as she took to the stage to discuss “Successfully Growing and Localizing a Global Brand.” She said: “Our brand values were defined more than 30 years ago as simplicity, authenticity, quality and conviviality, and these are all still relevant today.”
While these examples relate to food services, it is easy to see how they would apply to the wider hospitality industry, or indeed any service-based industry.

One of the most powerful tools for entrepreneurs seeking to elevate their brand is storytelling. Stories can be shared as content on your blog, website and social media platforms or in person, where you can command greater attention for a little longer. Most importantly, the narrative must be shared with your team so that they understand, live and breathe it before it is shared with your customers.

How many of us read reviews of a product or service before going for it? Most figures suggest that this figure is as high as 90 percent. As consumers, it is definitely part of the decision-making process, and genuine reviews from a third party can be very influential. While a strong story can communicate your values and your purpose, trust and authenticity are what will ultimately create the strong connection that can build long-lasting brand loyalty.

Brand loyalty
As customers, we have all become aware of loyalty programs that allow us to earn points or benefit from discounts and special offers. However, what is brand loyalty and how is it achieved?
Kevin Roberts, former CEO of Saatchi & Saatchi, said that brand loyalty was achieved through respect and love, and the three pillars of mystery, sensuality and intimacy.
We all know how powerful storytelling can be in terms of setting the scene and making things seem effortless, especially in the world of hospitality. Offering genuine experiences that inspire customers to share their positive feedback gives brands greater credibility and helps to accelerate growth.

Ashleigh Donald,
Halo Business Consulting Ltd
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