Differentiation is key when you’re competing in the marketplace.
You probably know that you’re supposed to build a brand for your business but maybe you’re not entirely sure what that means. In fact, some people believe that a logo is all you need to brand a business. However, while a logo does play a role in your brand, it’s not your brand. It’s a visual representation, that’s all.
Branding is the process of creating a unique name, message and image in a consumer’s mind. The goal is to differentiate yourself from others in the market and to attract and retain customers.
When you have a new business (or even an existing business), it can be a challenge to find the money for marketing. There always seems to be other areas of business that need funding. But the truth is, without marketing you’re not going to have a business. If your target audience doesn’t know you exist, how will they be able spend any money with you?
Marketing is an investment more than it’s an expense, and it should not be something you don’t fund. Having said that, you can market your business inexpensively and effectively if you know how. There are many small budget marketing techniques that really do work.
There are literally millions of businesses and services offered online in thousands of different markets. For example, estimates put the number of blogs between 200 and 250 million. So how in the world is your business ever going to get seen online?
Today, it’s vital that you know how to get your business noticed online. This often means being a lot more personal and relationship focused than ever before. It’s not enough to have a great service or product. Having that should be a given. Now you must also get personal, stay relevant and even entertain your audience so when you do get seen online, you’re remembered. You must build a fan base to brand yourself in a memorable and profitable way.
The first thing to understand is the importance of branding. Branding isn’t just for big, multinational businesses. Why do you need to brand your small business? Your brand is all about what you do, why you do it, who you do it for, what they need, and how you’re different. Your branding needs to do all that for your audience.
Many small businessmen and women don’t know what all the fuss is about with branding, until they successfully create a brand themselves and realize the rewards an effective brand can deliver. When you brand your small business, it’s more than a logo or name. You need to really think about how your audience feels when they think of your brand. Here are 9 branding tips for small businesses.