Small businesses depend on their brands to attract customers and achieve long-term profitability, but many are confused about what a brand is and, more importantly, why they should have one.
It’s clear that being a small business is not a disadvantage when it comes to branding. In fact, many larger companies will deliberately position some of the brands in their portfolio as being “small brands” because of the positive associations that customers have with them. Customers like small brands because of their association with uniqueness, eco-friendliness, and quality, among a range of other things.
What Is A Brand?
Although most entrepreneurs understand the importance of branding, many do not fully grasp what a brand actually is. A brand is more than a logo, a theme or a slogan: it’s a way of communicating the story of your company, one that should contain important information about your values and purpose. Customers want to align themselves with brands that they feel reflect their own values, whatever they happen to be.
Effective branding is a tool for gaining customer loyalty and advocacy. When customers believe in what you’re doing and love your products, they instinctively return for more and share their excitement with the people around them. As a consequence, you gain new customers for free through word-of-mouth.
How To Build A Brand
Brand development can be a complicated process, but by using the following principles, you can get on the road to a fabulous, instantly-recognisable corporate image.
Create A Story
Customers not only want to know what you sell but why you’re selling it. The best brands give customers something that they can believe in, whether it’s a noble purpose, a desire to do something different from the competition or to improve people’s lives.
Be Bold And Follow Your Beliefs
Firms rarely achieve greatness through timidity. Instead, they boldly go out into the world and stand up for what they believe in. Companies that can do this generate an air of authenticity, demanding respect from customers, even those who may not believe in their core mission.
Stop Repeating Yourself
Although repetition can help cement ideas in customers’ heads, it can also get boring. Ideally, you want to create marketing content – especially digital content – which reflects your values but from different angles.
Create Long-Term Relationships With Customers
It’s much easier to retain and sell to an existing customer than it is to find a new one. The longer you keep a customer, the greater the trust, and the more likely they are to advocate your business to other people.
Stop Mimicking The Big Brands
If you’re branding in Perth, then there’s a lot of competition from established companies. Rather than go toe-to-toe with them and mimic their marketing approaches, do something different. Customers are looking for companies that can stand on their own as unique offerings, giving them something that they want. Independent brands often seem more authentic and bespoke than those of the larger chains.
The future of branding is personal and authentic. As customers become more savvy, branding needs to mature.