Many SMBs ignore branding as a key marketing tool. It’s usually not even the last thing on their minds; probably because it’s not an easy business strategy to understand. Ask any business or marketing person what branding is and you will get some standard responses similar to “it’s how your customers perceive your business” or some even swear it’s “your logo” that brands the business—and they aren’t wrong but they aren’t entirely right either. These are only part answers. The biggest challenge is how do you take these simple definitions to convert them into a business function and tie the investment made with business growth? Sounds difficult right?
Now, your business may have been doing well so far without needing to build a brand. However, here are two compelling scenarios where you will find that branding is the only way out of them. Is your business experiencing one of them?