How can small business/startup benefit from branding?
This post is in continuation of my previous post on “What is the difference between brand development, brand strategy and branding?”
I started writing this article keeping in mind the big boys but later on thought it would be good to write with small business & startups as the focus piece. So i zukishh the paper took aim and threw it in the basket, sorry big boys next time.
You are a small business going to be a big business, fella’s you are at the right stage for creating a “long lasting brand”. You can lay a very strong foundation right now and see your brand grow later or you ignore it now and regret later, choice is of course yours!
How can branding benefit you as a small business, and why should you place any emphasis on developing a brand in the early stages of your business? There are numerous reasons, but perhaps a few of the most important are:
1-I know you so I like you– Creating a distinct identity helps your customer remember you and your product/service offerings. By branding you help them do away with the fear of unknown. You actually provide them a psychological assurance that it’s beneficial to choose your service over your competitors.
2- Sound professional in every sense of it- Branding helps you create an impression of professionalism, commitment and confident. It will make you look bigger than you are, and this is not a false promise but a way of showing confidence in your work.
3- We are not running away:- A business with shoddy image is always perceived as a fly by night operator. Prospective customers feel that you are here to make a quick buck. But if you project yourself as someone adding value to their life/business they will happily accept you.
4- Grey hair matter a lot: With the passage of time, as you grow into a much bigger and better business, if branded properly(earlier) you will be perceived as somebody with experience and which translates into Trust-our most important goal in building a brand.
5- Diversity demands consistency at times: You may be a business with multiple line of products, some of them are popular and some are still looking for their place in the market. If executed rightly then branding can help you drive benefits for your not so popular products from the one that are popular.
With this blog post I leave you with a workbook/checklist kind of a thing especially for senior management guys to keep it handy when they are working out a strategy on branding or MarCom. You can download it here.
This article was sourced from Khansuhel’s Blog and can be found HERE.