There are a gazillion questions when you are developing your small business. Most of them are easily answered just because you are starting or building your small business. Where will I bank? Can I make this product for a reasonable cost? Some are a little harder to answer and should get the full weight of your attention. Who is my target audience or customer? My current favorite … what insurance coverage do I need for my business?
All of the questions you can come up with, and answer, are great but a lot of people are forgetting a small but important one when it comes to their business, “What is my brand?”
Well, “wait a minute,” you might be wondering, “do I need a brand?” or “that’s something for Coca-Cola level companies.” However, you’d be incorrect
You see, you need a “brand” for your customers and/or clients to utilize. Again, you are probably wondering what I mean by this. Well, you’ve heard of “word of mouth” and many businesses build their entire start on this very valuable process. But when your customers or those people you interact with are using “word of mouth” to discuss you what are they discussing?
You see that’s your brand. And you want to take control of it.
Brand, in this case, a marketing term. Back-in-the-day we might have called it “image”.
The dictionary definition is:
“kind, grade, or make, as indicated by a stamp, trademark, or the like”
But the marketing definition is so much more:
“A brand refers to the identity of a company. It represents the products or services a company offers, highlights the quality of the products, and can help create a following for products.”
And there is the key to a brand … “help create a following for products” … and I will add “or the company itself”.
So I put it to you again, “What is your brand?” And if you can’t answer that question it might be time for a chat.