Branding
February 1, 2006
What do customers and the public think of when they think about you and your business? What is the promise you make to your customers? That is your brand. If your answer is “I don’t know” then your brand is weak, but it is still a brand nonetheless.
Howard Schultz, the CEO of Starbucks, once said this regarding brands (and I think we can agree he knows a thing or two about branding): “Customers must recognize that you stand for something.”
Think about it: How many people actually know you and your business personally? If you are like the rest of us, the answer is “not many;” far more people have heard of your business. What they know, what they associate it with (if anything) is your brand.
How important is it to create a strong brand? Consider Oprah Winfrey. What is her brand? Honest, strong, savvy, inspiring, empowering? That is a strong brand. What about Starbucks? Hip, expensive, comfortable. Another strong brand. What about K-Mart versus Wal-Mart? One is known for low prices and the other for well, what exactly? Strong brand versus weak brand. I would venture to say that the last presidential election turned on branding -- the Bush campaign being better able to brand John Kerry as weak than he was able to brand himself as strong.
So branding is about creating a desired impression in the minds of people. This is more important for small business than almost anyone else because there is so much competition out there. But if you are able to do it, the benefits are many. For the small business, a favorable brand carries with it:
More income potential
Consistent business
An aura of success
Credibility
So, how do you go about creating an identifiable, strong brand? Here are the steps to take:
Step 1: Understand how you are perceived: How do people perceive your business now? Is that how you want to be perceived?
Step 2: Decide upon your Unique Selling Proposition: What makes you or your business unique, different, special? What niche is available that only you can fill? Can you be
The sedation dentist?
The inexpensive lawyer?
Step 3: What are customer expectations? What do your clients typically expect of you? What unique attributes do you offer that best fit client expectations?
Step 4: Make it personal, if possible: Who do you trust more, a corporation or a person? Whom would you expect to give you better customer service – a corporation or a person? What about honesty – whom do you think is more honest? The answer to all three, of course, is a person. That is why, if possible, it is often a good idea for a small businessperson to tie his or her own name/personality in with the brand. People like and trust people more than businesses.
Step 5: Put it all together: A great brand will offer something unique, something that people want. It will be based on honesty and integrity (a great brand cannot be a lie), it will both attract and repel customers (you are not trying to be all things to all people; some people like Starbucks and some don’t), and finally, it will offer perceived value.
Once you decide what your brand will be, you then get the word out consistently and repeatedly using your website, business cards, signage, stationary, newsletter, e-mail, advertising, marketing, and public relations.
The result is that you will create a memorable business that stands for something.
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Today’s tip: I was recently informed of a great new program for the many small business people who use Microsoft products (a company I work with). It is called Small Business + and it offers free online software and skills training, and best of all, free tech support. You can learn more about it by going here.
Also, this is the final week to send me your favorite business tips. Send it to sstrauss@MrAllBiz.com.
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