Our world and everything inside of it is easily accessible and it’s on our fingertips, everything moves and happens at a fast speed! Technology has its primary role, and social media is more powerful than ever. What does this mean for small and medium businesses? The variety of products and services and the small market create the conditions for even more fierce competition. We have less and less retained our interest in a product or service for more than a month, not to mention loyalty to a particular brand for a lifetime.
How does this affect small and medium businesses? Today, established and strong brands, especially small and medium businesses, are a mirage. Competition is very large and all approaches are allowed to win the game, namely the ultimate customer and a larger market share. Do you wonder why, when you hear the word “branding,” giants such as Microsoft, Dell, IBM, BMW, Range Rover, Coca-Cola are emerging in your head, not business companies of a small caliber. The saddest thing is that these companies are the ones most in need of brand image and identity. And not giants that have many customers and are world-famous.
It’s the small and medium-sized business that needs its values, mission and vision to be reflected and communicated in a clearer and more powerful way with their most valuable asset, namely loyal customers.
What are the red flags that signal a blatant need of a brand identity for small and medium businesses?
- The lack of product or service recognition by the customer and often the feeling of confusion with the products and services of the competition. When you offer, for example, sweet products and the customer doesn’t know that your chocolates are tastier, more useful and more boutique packed than those of the competition, you lose money as well as market share. In the long run, these two losses can lead to the bankruptcy of your small or medium business. When your business is not presented authentically with its strongest advantage, you lose your biggest asset.
- Lack of loyal customers who are the best advertisement for the brand and attracting new loyal customers. When you have no tribe of loyal and loyal customers to present the benefits of your product in the best possible way to your circle of loved ones, the losses are enormous. When the right people who love and promote your brand are missing, it has no message and impact on the users. And as humans, we don’t buy chocolate or chewing gum, but the meaning and they carry.
- The lack of a significant market niche in which small and medium-sized businesses operate. This is a very serious problem that can lead to the end of your business earlier than you want. Just for small and medium business, every client is extremely valuable because the more you have the market, the less you have something to worry about and the more opportunities you have for development.
The world we live in requires brands to constantly adapt, develop, and give meaning which people lack these days. Brand image and brand identity create ways where they aren’t any left, inspire new peaks, and open up people without spirit. Right now, small and medium-sized businesses have an increasingly shining need for brand identity to distinguish it from competition and reflect its values as clearly as possible.
If you want not just to survive but to thrive with your small and medium business, you need to build a brand image and identity that reflects the values behind your business as clearly as possible, creating a lasting feeling for the customer. Alternative Advertising will gladly support you and create the missing piece of the puzzle to build a brand identity beyond your boldest expectations that are authentic and meaningful for the customer.