When one thinks of branding, you automatically think of a logo and advertising. In actual fact, your business’ branding is your promise to your consumers. Brands are built on it’s customers’ perception on the company and it’s service delivery.
The word branding can be defined as: The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products. An effective brand strategy gives you a major edge in increasingly competitive markets.
Branding does not just encompass a logo. It is essentially the image of your business that you would like to portray and even more so with small businesses; it is vital to separate your brand from others and stand out from the crowd.
Here we discuss seven reasons why branding is an important part of small businesses in particular:
- You have the chance to be bold and daring in your visual appearance. Larger companies are surrounded by bureaucracy and policies with regards to being flexible as a brand. Keep in mind that your visual image is also determined by the audience you are targeting i.e. are you offering a sophisticated higher priced service, or are you the specialised but reliable, more affordable business.
- Reinforcing Company Vision. Your business branding is there to reinforce the business character/ culture and clarify it’s offerings to customers so they know what to expect from the business. It is also a way of educating your clients about the brand, what exactly you do and ensuring that there are no blurred lines between your business purpose.
- In order to thrive as a business, once you have established or defined your brand, though a long and painful procedure it may seem, it helps you to better understand your company dynamics and better translate your image to the public by asking the following questions:
What is your company mission
What are the main features and benefits of your products or services
What does the public or existing clients already think of your business?
Which qualities would you like those clients to associate with your brand?
- Branding creates a trust between yourself and the consumer. When people see that a brand is professional and socially interactive, they become more inclined toward the brand and think of the business as trustworthy.
- Through branding, you create new revenue for the business. People cannot refer your business if they don’t remember your brand. One of the best ways to generate sales, especially for smaller businesses, is through word-of-mouth. If your service is excellent and your pricing competitive, there is no reason why your image should not match this.
- With a well-managed brand, there will hardly be any need to introduce yourself; your targeted audience already knows your values and sticking to commitments through the positive impressions you’ve set in their minds.
- One misconception that business owners have is that they need to put their logo on everything. It would be like someone introducing themselves at the beginning of every sentence. Like your name, face, your distinct scent or style of dressing. These are visual aspects of your business that you can expand on by more than just a logo; the more one is able to expand on their branding like a specific font and colour scheme, a fabric used throughout the interior, your business becomes more relatable. While there are some businesses who just need to sell an essential product that serves a function (toothpick/ toilet paper), there are other businesses that sell a service and need to maintain good relations with their clients (doctors/ lawyers/ consultants).
A good brand does not necessarily mean a high budget is needed – more interestingly, all you needs is to work smart with the resources on hand, keeping the business vision in mind, and talking to the right people.
Check out our home page for some inspiration and if you have any other questions, give us a call so that we can set up a meeting and discuss just where you want your business to be and how we can make it happen!