Brand-building for small businesses: Why it’s important and four tips for getting started

If you have a small business, you have a brand. It’s not your logo, your business name or the colours you use. It’s your reputation with your target market; what people say about your business when you’re not in the room; what they think when they hear your business name, says Belinda Watson, Head of Design, Agency and Brand, MYOB.

Your business’ brand is created through every interaction, every experience and every communication you have with existing and potential customers.

It’s important to protect your brand because it influences your bottom line. A strong brand lowers the cost of acquiring new customers and increases customer loyalty. Get it right and you’ll see more word-of-mouth referrals, more repeat purchases, and better lifetime customer value.

4 top branding tips to add value to your business

When it comes to managing your brand so it adds the most value to your business, here are four tips for small to medium-sized businesses:

1. Be clear about the unique value your business delivers

When starting or running a business, it’s important to be clear about the big problem you solve. Who experiences this problem and how do you solve it in a way your competitors don’t?

This is called positioning and without it you run the risk of being like everyone else. Difference is critical – you can’t stand out and get noticed by being the same.

When you have identified the problem and how your business solves it in a unique way, define three words or attributes that you want your target market to think of when your business name is mentioned. Keep these words in mind and it will help to ensure you are ticking the right boxes.

You could also create a list with ‘We are this and not that’ descriptions. Defining what you don’t do can be just as powerful as defining what you do.

All in all, your business should have a pitch that passes ‘the elevator test’. Can you easily explain to a stranger in 30 seconds the problem your business solves and the value you deliver?

2. Consistently deliver experiences that match the promise

Once you are clear about your value proposition, make sure this is communicated to your customers through everything you say and do.

This is the hard part, and consistency is key. Your proposition is essentially a promise you are making and so it is important your products, services and all interactions meet that promise.

If you have employees, make sure they are also 100 per cent familiar with the value proposition and the attributes you’ve defined so they can deliver experiences that match.

3. Utilise the channels where your customers are

Consider the channels you can use to build your brand. The best channels are free — word of mouth, referrals and positive online reviews — which are achieved by delivering great products and services that delight your customers.

But also think about who, and where, your target customers are. You might reach them through social media channels, your website, emails, newsletters, trade and community events and even traditional media like radio and TV.

Every channel you use to communicate has the potential to build your brand.  So, create a distinct, memorable and engaging look that brings your brand to life, and think about tone of voice and the kind of language that will appeal to your customer base.

4. Measure the health of your brand

It’s tricky to get one quantitative measure on the strength of your brand with existing and potential customers, but there are a few different measures you can track.

Keep an eye on your social media followers and engagement, and track unique visitors to your website and Google searches for your brand name.

You can gauge how customers are feeling through customer satisfaction surveys, online reviews and — even better — referrals for your products or services.

Bigger businesses with bigger investment dollars could consider running a brand health monitor survey, measuring the perception of the brand within a target audience.

Finally, don’t discount how your employees understand and feel about the products and services sold. Looking at things like employee engagement surveys, and how easy it is for you to attract and retain staff, can tell you a lot about how your brand is perceived.

Building a brand may happen organically for many, but it’s a key part of running a business. It’s important for small business owners – particularly those competing against larger players – to define their value proposition, deliver it through consistent experiences, and work out the best way to communicate it to their current and potential customers.

Want more? Get our newsletter delivered straight to your inbox! Follow Kochie’s Business Builders on Facebook, Twitter, Instagram, and LinkedIn.