Many small businesses make the mistake of overlooking branding efforts because they think of themselves as a business and not a brand. Brands, they think, are the big fish in the pond with huge budgets and national and also international recognition. Resigned to their supposed small-fish status, small businesses do little more than come up with a fun logo and some flashy business cards.
But branding is important for businesses of all sizes because it increases their value, gives employees direction and motivation, and makes acquiring new customers easier.
Below are reasons you should brand your business
- Trust: When your business presents itself in a professional way, and when there is social proof that their products and service are quality, prospects will trust that company and feel more comfortable giving it their hard-earned money.
- Revenue Generation: Branding is one of the best ways to get referral or word-of-mouth business. And again, this is why it’s important that your logo, marketing, and reputation work cohesively to form an indelible impression on consumer minds. Think about it, you can’t tell your friend about the cool stuffs you just bought if you can’t remember the brand.
- Branding motivates employees: Anyone can hire employees, but only a strong brand can hire motivated employees that are inspired to carry your vision and mission forward. When your brand feels pride, your employees do as well. Having a strong brand is essential for employee morale and productivity.
- Branding increases the demand for your product: Branding is very essential if you want to increase demand for your services and products. The more you invest in building and maintaining your brand, the more people will recognize you as an expert in your field.
- It saves time and money: For small businesses, it’s so important to watch where your money is being spent. You have to decide what is most important to you and what makes the most sense for your business. Trust me, I completely get it! It might seem easiest to just go with the cheapest solution at first, but without proper branding in place, you might not be very consistent. You may want to change your strategy, logo, messaging, website and everything else several times before you’re completely happy with it. In the long run, you may end up spending more time and money on changes, rather than setting a good foundation in the first place. Constantly changing things also won’t do anything good for your customer loyalty.
- It increases your value: It can be hard to get your first clients and customers. In order to start making money, sometimes you just have to take whatever you can get. Many times, you may charge way less than what you deserve just to gain some traction in your business. With a solid brand established, you will come across as a professional and therefore you can charge like one! If you show that you produce high quality work or products, clients will be more likely to value what you offer and pay higher prices for it.
Let us know what you think with your comments in the comment section as we really appreciate your opinions