randing is a word is thrown around in the business world in all sorts of ways. Does it relate to marketing, digital collateral, social media, communication, advertising, or all of the above? Is it only the large, globally-recognized companies that need to worry about effective branding? Even small companies and startups often make the rookie mistake of overlooking their branding strategy because they solely think of themselves as a business, the whole branding topic hasn’t even crossed their minds yet. It's important branding doesn't go overlooked in any business size. Why? Simply put, branding does a lot more than make your company look pretty and cohesive to a customer - let’s take a look at the top 5 reasons why strong branding is essential for small businesses.
1. Establishing Trust
Whether it’s through a website, social media platform or a storefront, small businesses have multiple tactics to leverage when it comes to proving that its services or products are professional and legitimate. Have you ever pulled up a company’s social media profile or website and had a hard time finding any ‘real’ information about the company? No photos, no ‘about’ section, and no store hours listed online? When integrated strategically, it’s these small iterations that create social proof that a business is set out to do what they have promised. Building trust will lead customers to feel more at ease with the company and feel more comfortable paying for what they have to offer.
As we mentioned the whole cohesiveness portion at the beginning, this is an important part of effective and strong branding. Now your logo is without a doubt a very important part of your branding strategy; however, this is not where it ends. Maybe consider running your logo by a professional designer. Not only should your logo be memorable, but it should also 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. Adding to this, your brand colors, tone and typeface choice should reflect and complement your logo.
3. Employee Motivation
our employees and the work they do is most definitely something to celebrate because it feeds into the overall idea of having a motivated workforce, and all businesses want that. Giving your employees a common mission and vision to work towards will give them something more than just work. It gives them a reason to feel that same sense of pride and work in conjunction with each other to achieve the goals set as a company.
4. Flow of Clientele
Pause for a moment and think about one of your favorite brands. What about them makes it your favorite? It’s probably so special to you that you’ve told your close friends and family about it, right? Strong branding enables your company to get referral business like word of mouth. Strong branding creates an indelible impression and word of mouth referrals are only possible in a situation where your company has made it possible to deliver a memorable customer experience. People naturally want to share things that they are excited about or that benefit them.
5. Financial Value
Another great addition that comes naturally with strong branding is inherent financial value. Companies that publicly trade on the stock exchange are often valued at more than the actual worth of the company, this is because the potential value is instilled in the company itself. Being perceived as a company with financial value will make the entire process advantageous for the founder. The more effort and devotion a company has under its belt to build its brand value, the better the financial return.
Whether you’re a small brand just getting into the swing of things, or you’re just looking for a refresh on your current branding strategy, thinking into the bigger picture and diving into effective branding is a smart move. The most successful companies, small and large have one thing in common - a strong brand.