Our 2019 goal is to introduce a series of blogs, from our own team and from specially selected guests to bring to life various aspects of the Creative world.
Our first blog comes from the team at Marketing Voice:
The Value of Branding for Small Businesses
What is the first thing that comes to your mind when the topic of branding is discussed? Do you think branding is only for large businesses? Is branding only associated with pumping obscene amounts of money into advertising?
With the coming of age and the rise of digital businesses, customers are spoiled for choices. From buying a bed sheet to furniture for the whole house, and from picking a pair of slippers to office shoes, there are plenty of examples to go through.
Still, new businesses come through and gain a space in the highly competitive market. And the ones that don’t, probably 90% of them, are forgotten because there is nothing to associate them with.
If your whole business idea is to produce something at a cheaper price, welcome to the race to the ground.
(If you are trying to create a competitive advantage based on price, there is only one place per industry in the market for a cost leader. For example, there is only one Ryanair orSouthWest airline depending on where you are from. If you go any cheaper, you price yourself out of the market and people consider you too cheap to be of any quality).
Do Something Different
No matter what you do, there is potential in the market. The one catch - how you put your name out.
In other words, Branding.
We are often asked what is branding. Is it the logo? Is it implicitly stating the value for your customers? Is it the doctrine that you want your employees to follow?
The simple answer is, branding is all of this and beyond.
A brand is the coming together of people’s perception about a company and it can include
- The way customers are taken care of
- The reputation of a business
- The advertising techniques
- And the simplest ingredient - visual representation - including the logo and any other form of imagery
What is the Result of Branding
We spent some time building up the topic and reassuring that we understand why you are here. Branding, sometimes, sounds like an extra that your business can survive without. But, let’s be clear, you don’t want your business just to be another entity providing a product or a service. You want your business to be recognisable. So,
1. Brand makes your business recognisable and memorable
Research suggests that customers come across a business, on average, 7 times before making a purchase. Those 7 times don’t magically happen. Current and potential customers have come to you because they feel connected with what you are saying, before what you are selling.
But, what happens when your message is consistent.
2. Branding creates trust
Trust is the most important ingredient for long-term relationships. Whether it's your personal life or an extension of it, i.e. business, people are only willing to spend their hard earned time and money on you if they trust you.
As a result, you grow your business in terms of customers, but there is another effect internally.
3. Branding inspires employees
Once your business starts growing, your team starts growing. But, you do not want to hire for the sake of hiring. You want to hire people that believe in what you are saying.
And, this is exactly what branding does. It attracts the right kind of people to join your team. They speak your language before even joining you. When that happens, you know that you are in the business for the long-haul.
At Worsley Creative, they create branding campaigns that connect with the future growth of your business. Get in touch with them to find out how they can help you develop your brand and grow.