Does your small business have appropriate branding? Does your brand help you to differentiate your products and services from other competitors? Branding is one of the most important aspects of any small business because it tells potential customers who you are, what you provide, and why they should buy from you.
Originally, branding was done in the cattle industry by burning a mark or symbol onto a cow to differentiate it from others. It evolved over the years to a business term that is used in marketing and advertising to create a point of differentiation in the products and services a company provides. The foundation of a brand is often a company logo or slogan.
Some of the top corporate brands include Apple, Google, Microsoft, Wal-Mart, General Electric, Amazon, IBM, Coca-Cola and AT&T. They are household names and it is well known what they do and provide. For small businesses, a brand provides a vehicle to make impressions with potential customers with your company name, logo, marketing messages, advertising and everything else people see and hear about your business. Having a branding strategy is the first step in branding. A branding strategy is how, what, where, when and to whom you plan on communicating and delivering your branding messages. Where and how you advertise, and how you distribute your product is also part of a branding strategy.
Defining your brand and developing a branding strategy is an important component for all small businesses to position themselves in the marketplace and attract new business.