Why Branding Matters: Ways to build a brand for your small business
Branding is just as important for small businesses as it is for big names. It is not just a logo or how business is perceived externally but a way of defining your business to yourself, your team and your external audiences. It could be called the business’ “identity”, but only on the understanding that it embodies the core of what the business is and its values, not just what it looks and sounds like.
The benefits that a strategically defined brand can bring are the same as when people fall in love with each other. When customers connect emotively – because they share the same values and beliefs of a brand – it leads to higher sales and better brand differentiation. It also leads to loyalty, advocacy and can even protect your price in times when competitors rely on promotional discounts to drive sales. It can also give you the ideal platform from which to extend your offering or range.
Tips on how to successfully implement branding for your business;
- Start by defining your brand
Review the product or service your business offers, pinpoint the space in the market it occupies and research the emotive and rational needs and concerns of your customers. Your brand character should promote your business, connect with your customer base and differentiate you in the market.
- When building your brand, think of it as a person
Every one of us is an individual whose character is made up of beliefs, values and purposes that define who we are and who we connect with. Our personality determines how we behave in different situations, how we dress and what we say. Of course, for people it’s intuitive and it’s rare that you even consider what your own character is, but when you’re building a brand it’s vital to have that understanding.
- Consider what is driving your business
What does it believe in, what is its purpose and who are its brand heroes. These things can help establish your emotive brand positioning and inform the identity and character for brand communications.
- Aim to build long-term relationships with your customers
Don’t dress up your offering and raise expectations that result in broken promises, create trust with honest branding – be clear who your company is and be true to the values that drive it every day.
- Speak to your customers with a consistent tone of voice
It will help reinforce the business’ character and clarify its offering, so customers are aware exactly what to expect from the product or service.
- Don’t repeat the same message in the same way over and over again
Alternatively, aim to make your key messages work together to build a coherent identity.
- Don’t try to mimic the look of chains or big brands
Try and carve out your own distinctive identity. There is a big consumer trend towards independent establishments, and several chains are in fact trying to mimic an independent feel to capture some of that market. Truly independent operators can leverage their status to attract customers who are looking for something more original and authentic, that aligns with how feel about themselves.
- Be innovative, bold and daring – stand for something you believe in
Big brands are laden by large layers of bureaucracy, preventing them from being flexible and reacting to the ever-changing needs of their customers. Those layers of decision-makers can make it hard for them to be daring with their branding.
- Always consider your branding when communicating with customers
Don’t lose your pride or dilute your brand positioning with indiscriminate discounting. Try offering more, rather than slashing prices. Promotions are an opportunity to reinforce your brand mission.
- The old way of stamping your logo on everything won’t cut it.
The future of branding is fluid and engaging – respect your customers’ intelligence by not giving everything away up front. Generate some intrigue and allow them to unearth more about your brand for themselves. This is the way to foster ambassadors who revel in telling other people what they have discovered.
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