Brainstorm to Develop a Small Business Brand
Important Steps to Take in Creating a Strong Brand
Sep 25, 2008
Starbucks, McDonalds, Subway are just a few big companies that have nailed branding. What about small businesses? They do not have the luxury of marketing/branding personnel on their payroll. They have to do it themselves, just like most everything else. Some small business owners need some advice on how to effectively brand their business. There are several questions to ponder when making this crucial decision.
What is your Company’s Mission? What are your Benefits? What is your Story?
It usually can be linked to what you were so passionate about in the first place. What is it your company is dedicated to? Think about your ultimate goal was in developing your company. What was your main focus? The next thing to ask yourself… what benefit your company is offering its customers. List them on paper. It will help you to figure out your tagline. You should also narrate a story as to how your company came to be. Sometimes writing down why you are doing what you are doing is the best way to give customers a reason to believe you and your company.
Who is your Target Market? What is their Need?
Another crucial thought process is to focus on your customer, or more specifically, your target market. Determine their demographics, purchase habits, needs, wants, impulses, etc. You need to understand them completely in order to create a compelling brand that will give them a reason to purchase.
What’s Important to Your Company? To the Customer?
Who is your Competition? What is your Point of Difference?
This will depend on the type of business you have. If it is local in nature, check the local chambers and networking groups to see if there are potential competitors. You can also type in the same search terms you are hoping your target market will use on the internet to find you, to find your competitors. Look at these companies closely. Briefly ask the above questions for each of your competitors to understand your point of difference. This will help you identify your unique selling point.
A small business owner should consider many if not all of the questions above when determining how to brand their company. Once you are able to brainstorm all of the above questions, it may help in clarifying your company’s brand. It is a necessary process to give you a competitive edge and to keep you focused.
