Why Should Branding Matter to Small Businesses?

26 February 2020

Any small business should have good branding. Not only does it increase the value of a company, it also provides employees with motivation and direction. Branding can also help a business to acquire new customers.

Branding represents a person’s perception of a company’s reputation, advertising, logo and customer service. With all the aspects working in unison, the brand of a company is healthy and thriving.


Branding:

  1. Improves Recognition: The logo is the face of the business. A positive, modern logo seems to deliver the best for growth and development. The logo is the first impression that any customer receives from a business, which unveils the outlook for the rest of the business.
  2. Creates Trust: Once a customer has gained recognition of the logo and becomes familiar with the brand, a pact is made between business and customer. Trust in the business world is very important for growth, development and success.
  3. Support Advertising: Advertising is very important for any business, big or small. Without it, a business will not be successful. It is advertising that helps to build the brand.
  4. Builds Financial Value: Having a strong brand helps to build a future foundation for a company. A business who has value in expanding their brand receives a stronger financial return.
  5. Inspires Employees: Raising moral in a company is a very important aspect to a business being successful and continuing to grow. Companies, big or small, simply do not run without gears. In this example, it is the employees who are the gears.
  6. Generates New Customers: Word-of-mouth is important in any type of business. A company with a strong logo and a strong brand will accrue a strong customer base, which only helps to further strengthen the company’s brand.

Know the Difference Between Branding and Marketing:

Marketing: Promotes your business to customers in targeted ways. It’s about promoting your latest service or product and engaging with and building relationships with customers.


Branding: Puts a spotlight on what you do and why you do it. It helps a customer to decide to go with your business over another business, not just a product or service.


Building a Good Brand:

  1. Implement Story-telling: Stories connect people to each other and that is true between a business and it’s customers too. Consumers are influenced by emotions and if you can evoke the right ones, people will buy pretty much anything.
  2. Stay Unique: Consumers have so many options available to them every single day. Emails are loaded down with this e-flyer and that e-flyer. It’s important to remain unique. To create a brand that really stands out above the rest. When people recognize a brand, they will pass up other brands to get to it.
  3. Maintain a Strong Bond: Consumers tend to gravitate to a brand they trust and know. Getting people to switch brands after they have been using the same one for years or even decades, can be hard. Customer service, strong messaging and social proofs help build a strong bond.
  4. Know Where You Want To Go: Where do you want your business to go? A roadmap is created through branding, but you must know where you want the road to lead. By knowing this information, you’ll know what products you want for your business and how to communicate with your employees and customers.

Unlike years ago, branding is no longer optional if you expect your business to be successful. Gaining the loyalty of consumers means maintaining a brand that stands out from the rest.


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