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 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.
So what exactly is a branding/brand?
The short answer is, everything.
Here are 5 reasons why branding is important for your small business.
Branding Creates Trust
When a company presents themselves 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.
Branding Improves Recognition
While your logo should not be the be-all-end-all of your branding efforts, you should still put the time and effort into coming up with a professionally-designed, memorable logo. Not only should your logo be memorable, it should give the desired impression of your company so when people see it, they instantly think and feel what you want them to think and feel.
Branding Supports Your Marketing Efforts
Marketing is an important component of your brand. The mediums and channels chosen as well as the demographic targeted helps to build your brand. Be careful of too narrow of a marketing focus, or you’ll risk being “pigeon-holed” and lose your ability to expand into new markets. Then again, too broad of a marketing focus could lead to an inability to create a definable impression of your company in consumers’ minds.
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 Generates New Revenue
Branding is one of the best ways to get a 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 amazing golf clubs you just bought if you can’t remember the brand.
