Branding is not just for large corporations with big budgets for marketing. Small businesses need branding in a world where concepts, services and products are often copied and used by competitors. A brand stands alone as the ultimate definition of a company, what it does and how customers feel about it.
Here are 12 reasons why branding matters to small businesses.
1. Instant Recognition
A strong, consistent brand image often starts with a well-designed logo, making it easier for customers to remember, recognize and recommend you.
2. Competitive Advantage
Whether it is dependability, knowledge or friendliness, branding should emphasize a clear difference from the competition. Branding also helps a small business stand out by highlighting what it offers, which lets people know what to expect from it.
Good branding will create customer loyalty and loyal customers will continue to support you through thick and thin. They will also spread a positive message to people they know.
The best brands have human characteristics, such as being quirky, fun or engaging. The target audience will connect more easily with a brand that appears to care about their needs and who they are as people.
A business’ brand connects products, logo, fonts, colors, voice, and everything else related to a business. If you’re able to unite and connect all of these components tightly, you’ll create a strong business.
6. Business Growth
Brands make it easier for a business to introduce a new product or service. Strong brands pave the way for your business growth. Once people trust a brand, you can easily add another product or service, or even get into a different area.
Building a brand means being consistent about values. Everything the business does should exemplify its core concepts, including social media presence and even how it greets its customers when they call.
8. Asset Stability
Products might fail, companies are bought and sold, technologies change on a daily basis, but strong brands carry on through all these changes. Brands are the most sustainable asset of any organization.
A quality logo will speak volumes about the business behind it. Building trust means looking the part.
10. Increased Value
People are always willing to pay more for a brand they recognize over a generic product with no proven track record. Having a brand elevates a product or service from ordinary to unique and valuable.
11. Size Perception
Even if a business is run out of a garage, a brand can make it seem bigger. This is important because if people knew the business was that small, they might not want to pay well for its offerings. Perception matters.
12. Revenue Through Word of Mouth
People will personally recommend a brand that they connect with emotionally. This builds trust and loyalty that often results in new customers. Free advertising is always the best kind.
Technology, the internet and social media create a great deal of noise in the current business climate. This is why it is crucial for a small business to build a focused brand and create a voice that cuts through the static. The process is challenging, exciting and brings priceless rewards.