Is it the preserve of the multinationals or can SME’s benefit too?

As a small to medium sized company I guess you can’t help thinking, how can little old me create a brand? And if I did would the effort worth while? Brian Sid Keates

The closest most small to medium sized companies get to creating a brand is a snazzy logo coupled with a strap line which once proclaimed so much but now does not seem quite as believable.

Remember, you can brand either a company and product or both.

Benefits for either

A branded company will be worth more when you come to sell. Research has shown that a company with a strong brand can sell for 20% more than those without.

It is easier for a branded company to go into completely unrelated markets, think of Virgin or Easyjet, these companies are able to sell into completely separate markets because their reputation precedes them – consumers have bought into their ethos.

A branded product can sell for a higher price or at least reduces the need to sell on price. Once established there is less need for costly advertising, excluding fmcg’s – branded products and services sell on reputation and referral.

So how can you brand your company?

Firstly, make sure all your marketing material is of the highest quality of design and make sure your image is consistent across everything you do, adverts, literature and web. The best and safest way to do this is by choosing an agency which can do it all, (for a clue go to www.mediacovered.com).

Secondly and probably the hardest, is to find or create a point of difference about your company. The sixties produced two of the greatest icons of all time, The Beatles and Mohamed Ali, they also shared a great marketing strategy, both telling the World they were the best and then went out and proved it. Obviously these very were talented guys but nevertheless they achieved what they said they would and they didn’t always win or get to number one in the charts. Perhaps the easiest way is to apply this is use the “kiss” (keep it simple stupid) principle.
For example, a plumber might guarantee to be on site within an hour. He should always make sure that he is and always make his clients aware that he was. So when he decides to branch out into “oven cleaning” his client base are already aware what his brand stands for and therefore what they can expect. This might be an over simplification but it is a very important point as to how you are perceived on a daily basis. How often do you hear people telling of their poor experience with a company? Well, by adopting this approach they will only be singing your praises!

Thirdly, know your customers; understand what they need from your company.

Lastly, make sure your staff “buy” into the whole ethos.
I don’t just mean a unique selling point I mean a company wide way of doing things; you know, “all sing from the same hymn sheet” and therefore continually reinforce the brand.

So in a nutshell what we are talking about here is attention to detail in every facet of your business. It takes time and effort, but by building it into your business strategy and taking a holistic view it will become easier. This will eventually give your clients comfort and confidence in everything you do.

If you would like to bounce a few ideas around about your brand and how to implement a design strategy which fits your business objectives, contact us and if we are unavailable we will call you back – within the hour!