How is branding applicable when you’re a small business owner? First, let’s try and explain the term “Branding”. The most direct answer would be that it is a set of associates a person makes with a particular company or business type. For example, when someone says shoes, the first thing that comes into mind is Nike. That is branding.
Now how can it help you? Branding for a small business is very doable. And just like any business endeavor, it requires work. With good branding and good business standing, your company name shall be associated with excellent products and services. Which you could then sell at a premium because you have such a good business reputation.
So how to get around to branding your business? Lets take for an example a small burger joint. You want to grow your company and in that process, retain and acquire clients. And this is where branding comes into play. You “brand” your business so good that when your clients think of burgers, they automatically think of your burger joint.
There are a number of strategies to employ for business branding purposes. One such example could be offering free drinks for every two burgers bought. It could be something like that. And if you serve excellent burgers, people would just keep coming back. Another very widely used strategy is providing loyalty cards.
These cards could be stamped and if the customer comes back for the 10th visit, they get a free burger and fries. This is really great for small businesses that recently opened. It ensures that there are customers that keep coming back.
While branding could work for typically any business, you also need to have excellent products that people would want to come back to. No use in branding if you have third rate services or products.