Branding is usually associated with multi-national companies and big businesses. The misconception is forgivable because when you think about it, the best-known brands are those that bring in the big bucks. It is for this very reason that small businesses often overlook the importance of effective branding – and the fact that being mindful of this is vital to the success of any business, regardless of size and scope.
Branding defines a business. In an age where too many businesses offer the same thing, branding can set a business apart. The brand has to be unique to the business because it creates an identity and an association with the business.
Small businesses often refrain from branding because of the costs. While it’s true that branding can be costly, no business can do without it. This is an investment for a business, but the rewards are well-worth it. Branding creates customer loyalty. For instance, it’s what makes Apple users go back for new iPhones and MacBooks no matter how expensive these products can be. It’s also largely why 94% of the world’s population recognize Coca Cola as the leading soda. Or why Starbucks is a global phenomenon
Branding also creates awareness. Again, too many companies offer the same products and services. Branding allows the customer to consider you before all other companies out there.
For small businesses, the challenge is to get people to think of them even if they’re competing with larger businesses.
Digital World Branding
There is also the need to adapt to the digital world. When a customer is looking for something, Google is usually the search engine of choice. If consumers don’t see you on the search results, then there’s a good chance that you won’t be transacting with them anytime soon.
It isn’t enough for a business to have a digital presence. If you want people to do business with you, then it’s best that they find you right away. Appearing on the first page of Google is always helpful. Your website also needs to be accessible via a mobile device. With more and more people using their phones for a quick search, it’s not a bad idea for customers to see your business on their phones.
In a nutshell, branding tells people what your business is about and why you’re the better choice. No business, big or small, should skip this crucial marketing strategy.