4 Tips for Branding Your Growing Business
by Sophia Eddi Content WriterAs entrepreneurs, our small businesses are our "babies."
We have created the business, brought it into the world, nurtured it, watched
it grow, and ached to give up (some) control to other caregivers and stressed
each time it entered a new phase of life.
Does this sound at all familiar?
I have been lucky to have had a diverse experience in my
career: large companies, small companies, client-side, agency-side, employee,
and owner. All these situations had one thing in common, branding is a
challenge. The brand needs to speak to those within the company as well as to
its audience.
Looking at small businesses, we have now had numerous
occasions where a branding exercise has either come to a halt or has gone full
circle. This is mainly due to business owners not being able to solve the
difference between personal brand and the brand of the business. (Please note:
I am using the term "branding" very loosely, as branding includes far
more than just the logo.)
What is personal branding?
Personal branding is the trademark of an individual and
their knowledge. This form of branding is crucial because the digital
impression you give the world can make or break your business. Your personal
brand gives you the opportunity to stand out in your industry because your
competition is just one click away. You not only need to leverage your personal
traits but your experience and knowledge of your services.
What is corporate branding?
A corporate brand is the definition, evolution, and image of
a business' identity. The brand identity must represent the core of your
company; this includes your products or services, offerings, values, and most
importantly, your audience.
Corporate branding is used to reach out to your intended
audience. It is meant to attract your audience and make them understand your
services so they can relay the traits that represent your company. Nothing else
matters until you attract your audience with your brand.
Branding challenges in growing small businesses
Many entrepreneurs start up their businesses as solopreneurs
or with a very small team of like-minded individuals. Therefore, the brand
often starts off with "personal branding" rather than "corporate
branding." But once the business owners want to stop being the identity of
their business and begin giving their responsibilities to their team, the
branding will need some adjusting to be adapted to a larger entity. The
realization that occurs is that the brand must transition from their personal
branding to a more clearly defined brand for their market, and then the
separation anxiety begins.
Our first instinct is to keep our personal values and
messages within our identity because that's what got the business to the point
of growth in the first place. But now, it is time to let go of some of the
control and allow your brand to evolve. In doing so, your brand will transform
to its new position in the marketplace, which will give your business the
chance to grow without the brand challenge where you might take your business.
4 tips for re-branding a growing business
Here are some of our tips that can help you in this growth
stage of re-branding or "updating" your brand.
1. Find a Marketing Partner That You Trust
Look for a partner that has experience in branding and with
whom you feel comfortable. It is important to find a marketing partner that you
trust, and that understands your business, your growth plans, and your market.
2. Trust Your Partner
Once you have found a partner that you trust, you will need
to have confidence in their ability to translate your input into a brand that
meets your business objectives, not your personal preferences. This new brand
is not about the colors YOU would prefer, the words YOU would like, or the icon
that represents YOU the best. It is a combination of visual elements that will
attract your audience.
3. Reign in Your Expectations
As a small but growing business, your budget for the
branding exercise will undoubtedly be moderate. In that case, do not expect a
branding exercise that includes a strategy team, creative team, and graphic
designers. You will not get hundreds of unique designs with unlimited
revisions.
Even the largest organizations have ranged in what they have
invested in their logo design. Here are some examples (Reference):
Pepsi spent $8 million for their 2008 logo redesign
Nike co-founder bought the famous swoosh image from a
graphic design student for $35 in 1971
We are not suggesting that you should not like what you end
up with, but the priority is that the logo meets the business needs, and that
will likely require some compromises for the business owners.
4. Focus on the Marketing Strategy and Key Performance
Indicators (KPIs)
In the end, the overall objective of your marketing efforts
is to increase your bottom line. Whether the strategy includes engaging
existing customers for increased sales, increasing awareness, acquiring new
customers, or all of the above, your logo and brand need to work well. Focus on
the strategies and identify quantifiable goals (KPIs). Only this will give you
the return on your investment and ultimately achieve the growth in your
business that you were looking for.
Branding is not an exercise of "design." It is a
strategic task that requires a marketing partner who understands your business.
Contact Logo Design Valley if you have a growing
business that requires a digital marketing strategy logo design in New York
to support your growth.
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Created on Mar 1st 2022 04:56. Viewed 265 times.