Branding, a term that seems to only be associated with large corporations all over the world. On the other hand, small business owners don’t feel that they need it nor understand the need for it. And that’s not the only challenge, they are hamstrung by their budgets and time.
To set the record straight, branding is an opportunity, an opportunity that as a business owner you can use to create value for the world as well as improve the overall health of your company.
It’s especially a significant tool to use to stand out from the crowd and surprisingly you can do it at very little cost. Why does this matter? if your business depends on creating loyal repeat customers then branding is a sure method of achieving that ambition.
Today’s article explores five useful tips that your business can implement on a budget before you choose to pay for that expensive and pretty banner that will add very little if any value at all to your company’s image.
Make a Promise and Keep it
You may ask yourself “why does it matter. I mean people just come to me to buy stuff that they need.” You are correct but the same people can go anywhere else to buy the same offer you have. It’s a viscous competitive cycle and that’s why when you make a promise to your customer, they will believe in your words and validate that promise with your actions because you have a genuine and credible business.
This takes time I must admit but the results are well worth the efforts. A company that keeps its promises builds value that can be converted into monetary terms as it grows.
One way to make a promise is by creating a story around your company. For example, you can highlight your company’s beginnings that motivated you to do what it is you do right now. And don’t forget to Keep it simple.
Simplicity, Simplicity, Simplicity
By simplifying not only your message but your company’s identity - identified by the industry and taste that resonates with your audience - down to its core, you will need to focus and become disciplined when faced with the need to complicate your offering(s).
When Apple first began under the leadership of Steve Jobs, it began with the simple message of stress-free usability. At the time it faced giants like IBM whose accounts were overflowing with cold hard cash but as a corporation, they ignored the needs of their users. Because Apple stuck to its guns, it managed to build so much loyalty that some of their mistakes overtime are overlooked by their loyal client base which has led them to a valuation of a trillion dollars as of 2018.
Today Apples revenue is supported by three main products that have made them a household name in the western hemisphere. Take note of that when thinking about your business
Know Your Audience
In the market place, most companies need to know their target audience. When a business has identified who they are going to sell their product, services or both then they are able to plan the direction in which their company will dedicate it marketing resources, in addition to establishing human connection between itself and its audience.
Not everyone is willing to listen thus it’s important not to waste that razor thin budget on an audience that will ignore it. Take of instance selling baby product. Mothers will instantly connect because they know that their babies can benefit from that product.
One thing that you don’t need to spend money on but can have a significant impact on your business is passion. Passion is not only addictive to you as a leader but its unbelievably infectious to your employees and clients as well. Take Bill Gates for instance, his passion to help the world through his foundation is what drives his actions consistently very time which has brought him great success. While passion cannot be truly quantified, it can certainly be a great help when your business may fall into hard times.
Delivering a product or service is one thing but to really build a brand from nothing you have to be consistent. Customers love a business that is reliable in all that they offer from the message to the service from the moment they first interacted with that business.
On the other hand, if you fail to keep up with what you offer or communicate then your business will take a beating over time especially when your customer has the option of moving on to your competitor.
Set a standard and keep to it. Take a look at the Coca-Cola company, its existed for a century not because they created a wonderful product but the consistency in which they have maintained the standard for every consumer touch point.
To find success in a saturated economy, take these tips and apply them immediately in your business. Not only will you enjoy the results but your income will improve without the need for a colossal investment. Thanks for your time and if I missed any crucial information on in here don’t hesitate to leave a comment below. Take care.