Branding for a Small Business
Branding is very important for all companies. Through branding, large and small companies differentiate themselves from their competitors and become memorable in the minds of consumers. Positioning a brand doesn’t happen overnight; it’s an ongoing process that requires effort and strategy.
Your business doesn’t need to have a large budget for branding; there are plenty of affordable and creative solutions you can easily implement to help your brand stand out and maintain a positive image. Even if your company has been around for a while, it’s necessary to reevaluate every year the way customers see your brand and use this to make improvements or leverage its impact to help you achieve your business goals.
If you want to shape and influence the way people perceive your brand, the first step your business needs to take is defining its identity. Here are a few questions you should be able to answer quickly to determine who you are as a company:
What is your competitive advantage? While your products or services may be similar to the ones your competitors have to offer, there should be something your brand offers that your competitors cannot. While the differentiating factors may be subtle, those unique benefits and features will help attract new customers and keep them loyal to your brand. In the marketing world, we call this the POD of your brand, short for point-of-difference.
Who is your target audience? When developing a brand, it is important to consider whom you are trying to target. You can define the personas you are trying to reach and narrow down who they are by thinking about the different demographic aspects that make them the ideal customer for your products or services. Consider things like age, sex, education level, household income, household size, etc.
What is your brand’s personality? Identifying your company as a person can help you define multiple aspects to build a consistent and robust brand. This is an excellent way to establish the values you want to represent and the things your business stands for.
What is your company’s story? Every brand has a story and a message they want people to remember them by. This message should be tied to your company’s mission, and it’s something you will need to keep consistent across multiple platforms to represent your brand accurately.
Brands should constantly reinvent themselves to stay current. Don’t be afraid to think outside the box. The big companies didn’t gain their success overnight. They succeeded because their idea was new, inventive, and fresh; you could be the next big brand.
To learn more about other branding solutions KKP Canada offers, click here.
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