Branding: who you are, what you offer, and why you’re different. This is the most important aspect of any business, and perhaps even more important for those of a more modest size. A professional business brand not only distinguishes your business from competition in a highly saturated market, but is the initial signifier of what your customer can expect; therefore, cannot just be haphazardly thrown together. Appropriate investment, both temporal and monetary, is crucial in regards to branding.
Hesitation with this strategy can be common in small businesses where focus on other aspects of growing the business might be tempting and other tasks may be seen as a priority. Nevertheless, branding needs to refrain from being seen as a second thought and be at the forefront of any business’ development. Customers have a multitude of options in this day and age, and you want to be able to make a strong first impression as to capture the highest possible market share with the least amount of effort. This is where a significant difference in ROI can be seen with investment in brand development as opposed to other strategic investments.
For it to be successful and yield these results, a clear-cut product or service definition needs to be developed that embodies where from the competitive advantage is derived. This product definition needs to remain constant across all fronts of the business. This means in the way your employees carry themselves, what your logo looks like, website design, the way you communicate with clients or customers, what your social media content is comprised of, anything that reflects the voice or image the business has as a result of branding. It is important to remember that this has to make sense for and remain true to your business. Synergy and consistency is a must when it comes to branding-your message should never be contradictory, confusing, or different in any way. If strong and consistent branding is accomplished, brand equity will be achieved, which in turn means higher profit margins.