Most small business owners will scoff at the mere mention of the word branding for their business. At a juncture in their business where every penny is being watched to ensure movement toward eventual profits, branding hasn't even entered the equation.
The real truth is that all businesses — big or small — have a brand within them. It's a matter of finding a way to bring it out to make your company stand apart from your competitors.
Many small business owners neglect branding because they feel it's an expense they can't afford. But branding can help position you as the expert in your niche — and it can catapult your profits upward faster than many other components within your business strategy.
While it's true that the big businesses shell out big bucks to make a brand for their company, it really isn't necessary to spend that much money. Branding is what sets you apart from other companies offering the same type products or services as you.
It could come from your logo, awesome customer service, the quality of the product you put on the market, or the buzz you generate in your niche. The next time you watch television, actually pay attention to the commercials.
What are some of the brands you see in the companies that placed those ads on the air? State farm insurance has a commercial jingle that says, “Like a good neighbor, State Farm is there.” It's not only their jingle — but also a brand, because it invokes feelings of trust in their target audience.
You don't have to spend thousands of dollars to get a brand for your company. Figure out what you want to be known for and develop a tag line or motto for your business.
What makes the store Payless shoes stand out from their competitors? The simple fact that the customer pays less for a pair of shoes than most shoe stores! They created branding right in their business name.
Branding is not something you have to break the bank to get. Figure out what your company or product's strong points are and build from there. Let your business grow and get your company's image developed by providing a brand to make you stand out from those you're competing against.