Posted on 04/04/2008 8:38:19 PM PDT by 2ndDivisionVet
Most of us recognize brands we use everyday. Picking coffee at Starbucks, visiting Trader Joe's for groceries or stopping by Home Depot for materials for the weekend home improvement project are things we often do without thinking.
Yet the reason we buy something, visit a store or contribute to a particular effort is based on how we know about it, how we understand it, and how we value it - its brand. Even paying attention to something we know nothing about is a conscious decision and could be a rejection of known brands.
Most brands we easily identify and use tend to be large, national companies. When it comes to smaller businesses, the names don't come to mind as easily. That often happens because small business owners concerned about day-to-day operations and budgets rarely think about or discuss marketing needs or strategies such as branding. That's a mistake.
Branding is an arena where small businesses can and should compete. Strong brands influence customer choice. According to a 2007 annual survey on brands and branding by Interbrand, strong brands capture customer attention, draw them in, orchestrate a favorable decision and secure lasting relationships.
Customers need to know small businesses and their products and services exist. If customers are aware of and can identify your product and company and have a positive experience with one and/or both, it's a win-win situation.
Small businesses need to look at the way they are communicating with their customers. Building a distinguishable brand is a valuable first step. Do you have a brand? Do you have an identifiable logo? Even if you do, a brand includes more than a logo.
Bill Nissin, a brand strategy expert, defines the ABCs of branding as attributes, behavior and circumstance.
Attributes are the basis by which consumers compare, contrast and distinguish levels of acceptance for use or consumption. We use attributes to make our choices.
Behavior is the way consumers act. Faced with the choice of purchasing a pair of sneakers, some people choose a pair by Nike, while others choose a pair with no name association.
Circumstances, or the setting, are the third facet of branding. If we develop a brand based on attributes and behavior but don't account for the setting, it won't work. For example, a new pool maintenance company based in Minnesota, where few homeowners have pools, is likely to have trouble establishing a brand presence, even if its service is excellent and its customers understand and use its service.
Other facets of successful branding include consistent messages, understanding your customers, and effective, creative communication. Small businesses that do all these things can use their brands to compete with larger businesses.
Effectively communicate your messages and get more sales by branding your business. Branding for small businesses is work, but the effort pays off in the end with increased brand awareness and a healthier bottom line.
Bttt.
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