The Importance of Branding to Small Business

I hear all the time that branding is not something most small businesses have time for, it’s not all that important to business owners, after all they are not a fortune 500 company, they don’t really need a brand to be successful in their small and limited market right?  Wrong.  Whether you are a fortune 500 company or a small to medium sized business, branding is paramount to a successful venture.  While some small businesses get lucky by being in the right place at the right time, the odds are that isn’t going to happen to you.  Successful business depends on hard work, and the right marketing strategy, and whatever that strategy is, it needs to include branding.

I’ve had people ask me, “So what exactly is the purpose of branding?” The purpose of branding it to get people to recall your business, your product or service from memory by creating a distinctive brand that will be remembered.  Your brand is the personality of your company; it’s what makes you different from your competitors.  Let’s be honest there are not too many products out there that are unique, the odds are that whatever you do, you have competitors offering the same exact service or product under a different name.  So that being said, branding helps identify your product as unique (even if it isn’t); branding is the personality of your business, what makes your company stand apart from the others.  Branding helps position your company in the marketplace, and this is important even if the market place is a small or local one.

So yes branding is a necessity, even for small companies, without branding you cannot grow, you cannot effectively stay in business for the long term.  Branding will identify who you are as a company, and create a presence in the mind of your target market.