4 questions to ask yourself when branding your small business

Whether you are a large corporation or a small business, branding is one of the most important aspects of marketing.

Your brand differentiates you from your competitors and tells your customers what they can expect from you.

According to a Nielson survey, 59% of consumers prefer to buy new products from brands they are familiar with. Corporate branding is one of the best ways to build and maintain the trust of your customers.

Not only that, but a proper trademark can also lead to increased sales, word of mouth referrals, and advocacy for what you’re selling.

Here are 4 questions to ask and answer as you build a brand:

one. Who are you?

You can’t be everything to everyone. As your corporate brand grows, you need to narrow down who your target customers are.

If your customers know you for your low-cost products, your brand message and brand strategy will reflect that. If your customers perceive your company as innovative and cutting-edge, so be it for them.

Let’s use an example. A relationship therapist offering marriage counseling will focus on branding strategies to appeal to a target audience of married couples, not troubled teens or grieving pet owners.

2. What is your mission statement?

One of the first elements of creating a brand is defining your mission statement. Your mission statement is related to what your company is most passionate about.

Some of the questions you can ask in this trademark exercise include:

• Why are you in business?

• What do you want for your customers?

• How do you differentiate yourself from your competitors?

• Where do you see your company in the future?

• What underlying philosophies or values ​​do you have around your business?

Take a look at Nike’s mission statement. While you may be more familiar with their catchphrase “Just do it,” here is their mission statement. “Bringing innovation and inspiration to all athletes around the world.”

Your mission statement will influence everything from your tagline and logo to your tone of voice.

3. What is your brand message?

When you’re building a brand, it’s important to start with your brand message. Your brand message can come down to your value proposition and the tone of your content.

Brand messages are what inspire and persuade shoppers to buy your product or service.

MailChimp has a simple three-word brand message: Send better email. He is direct and tells you exactly what to expect if they use his service.

Let’s use the relationship therapist again as an example. He or she could create a brand message that is bold and direct: save your marriage. Or, he or she could focus on compassion and listening, and build a brand message around that: I’m here for both of you.

4. What is your brand strategy?

Your brand strategy refers to how, what, where, when and to whom you deliver your brand messages.

First, you need to determine your overall goals as it relates to your corporate brand. Are you trying to reach a new audience or steal market share from a competitor?

Included in your long-term branding strategy may be:

• What it communicates, such as your logo, tagline and language in website copy

• Where it is advertised. Do you use Google AdWords, social media marketing, flyers, bus stop ads…

• How you’ll reach customers, whether it’s weekly emails announcing sales or seasonal contests to keep them engaged with your brand.

Corporate branding is a process.

It’s not easy, and it doesn’t happen overnight, or even in a few months. However, continued effort can result in better relationships with your customers, higher leads and sales, and more confidence in your product or service.

It can be very challenging to focus on branding strategies on your own, and the risk of not getting it right can be devastating to your business.