BUSINESS VS BRAND.
Tell me about your business.
Now tell me about your brand.
What's the difference between a brand and a business? A business is an enterprise where goods and services are exchanged for money. A brand is the image, feeling, "vibe", and what pops into your target audience's mind when they hear your small business mentioned.
Your brand is what sets you apart from any other business who offers the same product or service you do, and this differentiation can be a major driver the decision making process when a potential customer is trying to choose who to spend their hard earned money with.
A hard truth is your businesses don’t technically entirely control your brand, and that's because, for the most part, it's simply the way your target audience perceives your small business.
Businesses can control this narrative more however, by
Building a strong brand is often crucial for establishing a positive perception in the minds of consumers.
Establishing your brand is essential for small businesses because it helps create a distinct identity, build trust with customers, foster loyalty, and ultimately contribute to the overall success and sustainability of the business long-term.
✹ 81% of people look up a biz on Instagram before purchasing their product or booking their service ⤹
✹ In marketing, first impressions are made in 7 seconds, which is a quick look at your page or feed, so your branding needs to be strong with a clear message.
✹ Inconsistent or unprofessional branding often leads to distrust of a small business (even if their product or service is stellar) which is a huge shame if you’re good at what you do.
✹ Brand consistency is proven to increase sales.
Establishing your brand is crucial for small businesses because:
Differentiation: In a competitive market, branding helps small businesses stand out from the competition. It creates a unique identity that distinguishes the business from others, making it easier for customers to recognise and remember.
Trust and Credibility: A strong brand builds trust and credibility with customers. Consistent branding conveys professionalism and reliability, which are crucial for gaining the trust of consumers, especially when they are unfamiliar with a small business.
Customer Recognition: Effective branding helps customers recognise and remember your business. This recognition can lead to repeat business and referrals, as customers are more likely to choose a brand they are familiar with and trust.
Customer Loyalty: A well-established brand fosters customer loyalty. When customers have positive experiences with a brand, they are more likely to become repeat buyers and advocates, helping to generate word-of-mouth marketing.
Value Perception: Strong branding contributes to the perception of value. Customers are often willing to pay more for products or services from a brand they trust and perceive as high quality.
Consistency: Consistent branding across all platforms and communication channels helps create a cohesive and unified image. This consistency reinforces the brand message and makes it easier for customers to understand what the business stands for.
Marketing Effectiveness: An established brand simplifies marketing efforts. A recognisable brand can make marketing more efficient and cost-effective, as customers are more likely to engage with and respond to familiar brands.
Attracts Talent: A strong brand not only attracts customers but also attracts top talent. Employees are often drawn to companies with a positive and reputable brand image, making it easier for small businesses to attract and retain skilled individuals.
Flexibility and Adaptability: A well-defined brand provides a foundation for growth and adaptation. As small businesses evolve and expand, a strong brand can be adapted to new markets and product lines while maintaining a consistent core identity.
Competitive Advantage: In a crowded market, a well-developed brand can give small businesses a competitive advantage. It helps create a positive perception that can set the business apart from competitors and influence customer choice.