Defining the meaning of your small business brand – Setting yourself apart from your competition
Updated: Mar 28, 2019
No small business owner can be all things to all people. According to the U.S Small Business Administration, two-thirds of small business owners and entrepreneurs (66%) are personally responsible for three or more areas of their business, including marketing. Therefore ... it can be challenging for small business owners to excel at marketing while also focusing on growing their business. With that said small business owners need to ask themselves, “how can my business capitalize on unmet marketing opportunities and find and dominate a niche market?” Ideally, you want to be the only one selling a unique product or service.
This can be an overwhelming and daunting task because you may not know where to get all of your answers. First, you need to discover what is your brand. Why would someone want to do business with you? What do they value or need, and what sets your business apart from your competitor? To discover the answer to these questions it is imperative that you sit down and go through a branding exercise. Now it is time to set a day aside, grab some colleagues, and get yourself some sticky notes and a pen so you can start brainstorming.
Conducting the Branding Exercise
Some starting questions you will need to focus on during your branding exercise are:
1. What is your positioning statement? – Take your time to discover this and make it a core value to your brand’s message. This statement defines how you want others to perceive your brand. The elements of the position statement should include your products and services, target audience, value proposition, and key differentiators.
2. What adjectives describe your brand? – What are your brands personality traits? Use words as if your brand was a person and connect to your target audience with human emotions. This will help discover your brand’s voice and tone both written and visually. Pick as many positive adjectives as possible and write them down on your sticky notes. These adjectives should best represent your brand. Below is a small sampling of adjectives you may use during your brainstorming process from Writers Write. Review them all and pick 3-5.
3. What do you aspire your brand to become? – What adjectives best describe the future of your brand. Write those down on your sticky notes. Then review those chosen adjectives and pick 2-4 that you desire as future long-term goals.
Why is this Exercise Important
You may think this is a pointless exercise that only benefits organizations who have larger budgets to spend on robust marketing strategies but that is not the case. Every small business should conduct a branding exercise to understand their company and find a way to set themselves apart from their competition.
Once you complete this branding exercise, your small business will be ready to develop a branding architecture that includes a clear set of unique personality traits and attributes for your company’s brand.
Don’t forget to take a look at the below video presented by Brainstorm Marketing Partner which further discusses how your small business can stand out in a busy and oversaturated market
That’s all for now. Hope you enjoyed my educational session on conducting a branding exercise. Stay tuned to hear more from me next week.
If you found this information helpful, register to BMP’s Blogs. You will learn about interesting topics dedicated to only small business owners. Also, once you register you will be entitled to a complementary consultation on evaluating the health of your marketing efforts. Remember, you don’t need to do it alone to be successful – you just need to have the right tools and expertise in place to grow. That’s where we come in.