Small Fish in a Big Pond – the Power of Branding for Small Businesses
In a world ruled by large corporations that seem to own every business under the sun, it can feel like branding a small business is an impossible task. Some start-ups even consider branding an unnecessary factor, when they don’t have the budget available that their larger rivals do.
However, branding is a powerful tool, especially for small businesses, and the current economy is more favourable to the underdog than you might think. Branding is where small businesses can shine and gain a competitive advantage in the market.
In this post, we’ll discuss what branding does for small businesses and how their efforts compare to that of larger corporations.
What’s Branding, and Why’s it so Crucial for Small Businesses?
It’s important to note that branding doesn’t immediately correlate with budget, products, or the size of your audience. Instead, it refers to how your business is perceived by your employees and your customers alike. This is achieved through everything you put forward to be consumed. Your brand consists of your choice of fonts, colours and content, your logo, your tone of voice, your social media strategy. It is within your values and your mission statement.
Combine all of those elements, and you have a brand.
This might make it sound easy, but not every brand is a good or strong brand. For branding to work, you need to present yourself consistently across all channels and put forward a cohesive image of who you are.
This is where small businesses can shine. Even without much budget, you can be consistent in your colour scheme and presentation. But above all, you can use your story and authenticity to stand out from the competition.
To get started, think about these questions:
- What makes your business unique? What is your selling point?
- How do you want customers to describe you?
- What is important to you? What are your missions/values?
- Do you make an impact on the world? What is it?
- What do you want customers to associate with your business?
Small Business Branding vs Corporations
The truth is that nowadays, customer opinion is more important than ad spendings. Brands can’t control how they are perceived when it is their audience that decides who they are.
In this new market, a small business can beat their giant competitors by engaging the voice of its audience. They can build advocacy through engagement and authenticity and win over consumers from larger companies.
It’s true – large companies have budgets and strengths you cannot match. As such, the key is to build your foundations within your local community and the audience surrounding your mission.
Invest in your brand and marketing strategy, knowing that consumers actually show a preference for small and local businesses. 61% do so because they offer unique products.
8 out of 10 British consumers prefer independent businesses over large stores.
So let’s recap. These are the advantages small businesses have over brand goliaths:
- Small businesses are often more dedicated to their audience and provide better customer service. This is believed by 51% of British consumers.
- Small Businesses often offer unique products or novel shopping experiences. This is something consumers actively seek out and enjoy.
- Authenticity and a personal relationship with brands have become key to the marketing world. Small brands have an edge in this field because they are perceived as genuine and often associated with an individual.
- Small businesses can make their story of origin the heart of their branding strategy. David vs Goliath stories resonates with their audience.
Are you Unleashing the Power of Branding for Your Small Business?
The take-away is simple. Branding is a powerful tool for small businesses and could be your chance to stand out against larger rivals. Through authenticity, creative content and cohesive presentation, you can boost your business and reach dedicated audiences.
You don’t have to do it alone. ZAK Agency is a branding agency for small businesses that can work with your budget to bring your brand to life. Get in touch today for a chat!