Like your venture’s size, your investment in building the brand (as in marketing it) must be smaller than your investment in your product or service quality. At the end of the day, what works best for a small enterprise is its commitment to quality. While large companies garner customers simply on the faith that a well known brand must have stringent quality standards, a small company needs to prove this over and over again as it serves its customers so remember your quality is your single biggest differentiator!
Have a Vision
A small company must have a large vision. Having an ultimate goal is important for every business but more so for a small enterprise that wishes to compete with the bigwigs. Have a clear goal and a vision for your company and doggedly follow that vision day after day. Similarly, your brand must spell out your vision. From brand name to design to colours, it is important that all of these speak out your vision!
Have an online presence
An online presence is equivalent to an address in the physical world today. A business without an online address is not taken seriously. Today it is very cost effective to build a website. Do that ASAP. Invest a little time and money into having decent online presence and watch how your business expands. Use SEO tools, do a bit of digital marketing and advertising – it is definitely more affordable than creating television ads!
Use Social Media
This has its pros and cons. Irate customers can rip your brand apart on social media but happy customers can help build the brand too. Customers really appreciate personal connect with Founders on social media. Use social media only if you can be prompt and answer queries real time. There is no point logging into your brand’s social media accounts only once in a blue moon, you might as well not create them then!
Follow Brand values within the company
Whether you are a 2 member company or a 200 employee company, ensure that your brand’s values are clearly ingrained into every employee. Create a culture where the brand’s values resonate with the employees. Let them feel some ownership towards the brand. Build a brand board – a group of creative individuals who are constantly taking the brand philosophy forward and helping other employees understand and follow values. Take suggestions from employees across the board, implement the best ones. And yes, lead by example!
Let the brand evolve
The best brands are those that move with the times. In 2020, India will be the youngest nation in the world with average age being 29 years. Make sure your brand appeals to this largest consumer segment. Evolve with time but don’t let go of the brand’s core ethics and values!
Coming Soon – a post on brand communication!