Will Branding Grow Your Business?

26 07 2010

KFC

We have talked before about how to grow your business.  Obviously, you will follow a business plan to help get your business off the ground, the business plan will also provide a basic path for you to follow as your business grows.  But  a big question is, will branding grow your business?

Let’s first go into what, exactly, is Branding?  We are not talking about marking livestock or people, but we are referring to branding as a marketing term.  When you reach for a tissue, how many people want a Kleenex?  If you want to tape something together, do you ask for Scotch Tape?  What about getting a soda, don’t you ask for a Coke or Pepsi if you are wanting a cola type soda?  That is the branding we are discussing tonight. 

Branding is the assigning of a name, slogan, symbol to a product or service.  It has evolved into including the identity of the company, or the personality of the business to the product.  As we are mainly small entrepreneurs, branding anything we may have will most likely take much more capital investment than we will see in our near future.  So, it begs the question, is it really important to have whatever we are offering to the public (be it product or service) branded? 

We have all seen how a familiar product brand will outsell its competition, even the generic brand.  You see people tending towards the familiar brands, even if the other labeled products are exactly the same and less expensive.  Consumers will tend towards the familiar over something new and even less expensive.  If you think about branding though, isn’t a brand just a name or a concept that we have become familiar with?  It is not necessarily all the marketing that we have been exposed to, granted the marketing helps, but that is not all.  If you try a particular brand-named product and have a good experience, then you will let others know about the good experience.  The reverse is true too.

So, really the key to branding on the small business level, is to let people become familiar with your product and / or service.  The more familiar they are with what you have to offer, compared to similar items others are offering, the higher the likelihood that your product / service will outsell the competition.  Even if you have a product or service that is not common, if you have developed familiarity with your consumer base, people will be more willing to purchase from you than from any competitor who may crop up in the future. 

Part of what branding would be for small business is the concept of you branding your company, not necessarily the specific products you are offering.  It is stated this way, because as stated in earlier blogs, as the business climate changes, your product line may be modified to meet the new needs of your customers.  What you should probably focus on, is your own unique method of presenting the products and services.  You should be offering with your product or service, something that no one else is offering.  You may want to emphasise your business integrity, or perhaps that the product you are selling is the first in its field.  You want to offer to the customer something they have been looking for, and have not been able to locate in any of the competition.  Once you discover that aspect, you want to be sure your customers know that you offer something nobody else offers. 

Once your customers discover you are offering what they have been looking for, your “branding” will be advertised through them.   You want to create the thought in your customer’s mind that you and your offerings are unique and what the customer wants.  They in turn will tell their friends and your business will grow.  You will have discovered the small business version of branding to grow your business

If you are interested in starting up your own small business, please feel free to check out our website, www.hawgwash.net.  We offer several types of small business opportunities for those looking for a second income. 

Until next week…

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6 responses

27 07 2010
Tweets that mention Will Branding Grow Your Business? « Hawgwash's Blog -- Topsy.com

[…] This post was mentioned on Twitter by Gerry Schroeder, Hawgwash, LLC. Hawgwash, LLC said: Will Branding Grow Your Business?: http://wp.me/pAPeq-43 […]

29 07 2010
income tax calculator

do u have a twitter

29 07 2010
hawgwash

My twitter account is http://www.twitter.com/hawgwash

2 08 2010
agus

I like to visit your blog, dont forget to visit and comment at my blog http://www.voice-city.info

22 08 2010
Twitted by hawgwash

[…] This post was Twitted by hawgwash […]

24 08 2010
david michel

people are stupid

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