Branding

Branding is an important aspect of small business. Consider the biggest businesses you can think of, and you will see that their brand speaks volumes about who they are and what they do. The following are some of the steps you have to take in order to successfully implement branding:

Do your homework- Branding can be tricky. If you want to be successful at it, it helps to have a company that knows what they are doing help you out. However, they do not come cheap. It can be helpful to do your own market research and self-analysis. It will lower your cost, and it will also give you some insight into your company that will help you to improve in the future. For example, you may see that your competitors offer more variety of choices, as well as services you do not have (such as speedy checkout), by recognizing where they beat you, you can improve yourself to become a brand worth buying into.

Go with a shorter name- When picking your brand name, be sure to keep it short. In fact, the shorter the better. It is best to use between 8-10 characters. It will help you find a domain name quickly, and will also be more memorable. People will be able to get to your website faster. Leave the wordy explanations and product offerings for the site itself and keep them name short and sweet.

Avoid business speak- While it may sound fancy and fun to brand your company something like "Executive Solutions and Capital Consulting" it really just leaves people confused about what it is exactly that you do. It is far better to choose a name that is clear and not too generic. Be sure to select something that does not alienate your customers, as they certainly will not appreciate it. Distinguish yourself, and what you do. Ex: United States Postal Service of USPS. Simple, straightforward, totally clear.

Be distinctive- If you are a small business, there is a good chance you are facing some healthy competition on the market. If you want to reach out and grab market shares with your branding, then one of the most important things you can do is be distinctive. In what way? Start by doing an evaluation of your competitors. What are their main areas of weakness? Now make that your strength and distinguish yourself with it. Think about brands like Wal-Mart and Target. Wal-Mart is cheaper, but Target holds their own in the industry by offering things like shorter lines, better customer service, etc. Find out what is going to distinguish you from your competitors, and be sure to point that out in your branding so that you are a strong and memorable brand that capitalizes on competitor weaknesses.

If you can manage to do these things, you will understand your own company better, have more to offer your customers, be memorable, and take some market share along the way.