For The Brand — Branding For Small Businesses
Maybe you love Pumpkin Spice Lattes. Maybe you hate them. But one thing is certain – a good portion of the population associates this drink with fall and craves it as the leaf-changing season approaches.
But do you need millions of dollars in marketing budget to permeate your local market? When we think about brands, or even talk about examples of great ones, small businesses are left out of that conversation.
But small businesses need great branding, too. That’s why many people are skipping their pumpkin spice latte runs for local third-wave coffee shops.
So how were these local roastery brands able to generate such strong consumer appeal and eat into the market space created by Starbucks, Dunkin and even McDonalds?
Small Businesses Are Agile. Your Brand Can Be Too…
Many small businesses haven’t paid much attention to their brand aside from a logo, some colors and shapes, and a tagline that may or may not reflect your company values.
That’s because establishing a brand identity – or re-working it – can seem like a daunting task in the face of operations, sales, and other loose ends you are tying up on a daily basis.
But the biggest advantage small businesses have over large corporations in terms of branding is efficiency. While decisions on branding can get caught up in management and legal circles for months or even years, you have the ability to move fast.
Establishing Your Brand Identity
Small businesses don’t have the budget to compete with corporate brand campaigns in terms of visibility. So it’s more important than ever to know who you are offering your product or service to, and be in tune with how you’re being perceived.
Establishing brand identity is where it all begins. This includes putting more thought into:
- Brand Name
- Brand Logo & Tagline
- Brand Typography Style
- Color Palette
But more importantly, let’s discuss the non-visual elements. When you’re a small business, these things also matter:
- Function – what do you do, and is your value to your customer base clear?
- Differentiation – what makes you different than your competitors?
- Personality – how can your customers identify with your brand and its values through your unique voice and style?
- Authority – how much experience do you have? What is your company story?
- Brand Association – can your customers associate your brand with other products and services?
The Stats Back It Up
- 86% of consumers say that authenticity is a key factor when deciding what brands they like and support (Stackla, 2019). If you are a small business, you have a head start in this category.
- Choose your colors wisely. Using a signature color can help brand recognition by up to 80% (“What Can Brown Do For You?”).
- Being meaningful is good for business. 77% of consumers buy from brands that share the same values as them.