Should I Brand my Business? Benefits and Costs

By Mary Brophy


Many business owners consider a company's brand to be one of its greatest assets. How can you create a brand for your small business that will create this value premium? How much will it cost? And, perhaps most importantly, is it worth it?

Your Brand: An Inherent Part of Your Company

Building a brand is more than simple logo development, although the image you create is an essential component. Every single interaction your customer has with your company contributes to their perception of your brand – from their communication with your service staff to how their purchase is packaged. Your brand includes the values that customers associate with your company. You must therefore begin by identifying what values are important to your company, such as honesty, high quality products, or customer satisfaction. It is not enough to simply to start marketing yourself without a plan. If your branding strategy requires high quality customer service, you need to consider your customer's needs during order taking, billing, returns and exchanges, and then during a post sale thank you by mail or telephone and by sending a buyer satisfaction survey. Your branding strategy needs to be an integral part of your firm.

So what will it cost you to brand your company? Because we think of "brands" as large national chains, we often associate having a brand with huge advertising budgets. This is not the case. You can grow your brand without investing in television commercials or banner advertisements on high profile web sites.

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A Graphic Connection

An initial step is creating a public image with a eye catching logo. Many believe that their logo design begins with their first meeting with a graphic designer. However, adequately preparing for this meeting is what will ensure you walk away with positive results. Know your target market. Bring examples of the competition; of things you like; of things you don't like. If you arrive prepared, your graphic designer will have a better idea of what you want.

If your designer provides you with several samples, it is wise to hold a "focus group" to determine which logo will best appeal to your target market. Be creative. Ask your family, your friends, the guy at the grocery store and your kid's soccer coach. Public opinion will help guide you in the right direction. For example, you might not otherwise realize that a certain color could be seen as negative or unattractive to a specific audience.

A logo can cost anywhere from $50 to $5,000, and there are many designers available to match your needs and your budgets. You may even find someone who is willing to arrange an exchange of services.

Once you have a great logo, put it to work! The success of a visual brand is measured by how often it is shown in a professional and appropriate fashion. Most companies do not leverage their logos often enough. The logo can be effective in so many ways –  integrate it into your product or service, company stationery, invoices, email signatures, shipping labels, indoor and outdoor signs, flags, and creative or functional giveaways. All of these are used repeatedly and are a constant reminder. Employees may also take pride in wearing a classic polo shirt or an owner or executive may enjoy showing off her logo on a portfolio or other handbags for working women.

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A Constant Continuity

One important part of establishing a brand for your company is to become consistent. This means consistency in image - through using a consistent color scheme, paper choice, and font. It means consistency in experience, for example, always greeting customers upon entry into the lobby. It means consistency in reflecting your values. If you set a goal to be an environment aware company, be specific about which company programs or processes have an environmental impact and find ways to track or measure results.

What is the benefit to all this? What difference does it make if my van matches my workers' socks, you might wonder. The fact is, branding creates an experience. Your customers – and potential clients – associate your brand with a particular set of predictable experiences. For a landscaping company, consumers are likely to associate it with eco-friendliness. Depending on your branding strategy, other traits such as friendliness, high quality work, or luxury may be required. When value are aligned and communicated with a prospect group, its a potential match made in heaven – and brand loyalty often follows.

Consumers react to branding only when they are aware of the brand. But what does awareness cost you? And is it worth it? The cost will vary depending on the size of your company. Some elements of branding can be created with little to no cost to you, such as offering consistent service, answering the telephone the same way each time, and creating special offers for your clients. Some elements do cost money, so choose wisely and carefully. For example, if you are on a budget, it is wise to base Internet advertising on a cost-per-click pricing structure. If you are advertising via printed mediums, choose items that have an element of longevity, such as having your business card printed on a magnetic calendar rather than a flier.

Decisions in business branding can be adjusted to suit any budget. The key is to have a plan, follow it through, and be consistent – and let it grow based on your financial resources.

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