Every business owner will understand how important it is that their customers and potential customers can recognise exactly who they are. Branding is the way in which businesses everywhere achieve this and how they differentiate themselves from other offerings in the market.
Branding can be considered successful when differentiation has been achieved and sustained. A great example of this is how the majority of customers could instantly know the difference between ‘Tesco Finest’ baked beans and ‘Tesco Everyday Value’ baked beans.
But why is branding important to a small business? This comes down to the fact that whatever your business model and whatever products or services you sell, you probably aren’t the only one doing it. Everyone has competitors and small businesses are no exception, so you need to make sure that your business is noticeable within the market. A strong brand can and will do this, and help to construct psychological associations in potential customers’ minds as to what your product is.
Branding includes a brand name, marketing communications, packaging, price and mechanisms that enable consumers to form associations which give meaning to your brand. All of these elements need to be carefully considered and sit in line with your objectives when you are developing your brand.
A company with a strong brand is easily recognisable to its existing customers and potential customers alike. People will be able to tell what sort of product or service you offer, the kind of quality they can expect and why they should begin to buy in to your philosophy.
The key to good branding is good planning. Having your mission and vision statements in place and setting your corporate objective will help you to understand what you want to achieve and how you want to achieve it. This will then help you when it comes to making decisions on your branding.
Every company, small or large, should have strong branding and the importance of this cannot be overstated. It is the best way to add value to your product or service and to communicate ideals and values to your customers. Without branding, your business will not be easy to identify or remember – so make sure you’ve got your branding in place today!
What do you think? Are you pleased with your brand?
Kate Tyler is the founder of Shake Social and our long time social media expert. A regular speaker at events, Kate offers consultancy and training on a range of digital marketing topics, in particular safeguarding and using social media in an educational setting.