One of the most important aspects of your business is your brand.
It is what defines your company in the minds of your customers or potential customers you’re trying to attract. A strong brand differentiates your business from competitors and helps customers want to engage with your business. We asked Jen Marino, chief marketing and customer officer at Rockland Trust, why brands are important for small and medium-sized businesses.
What is a brand?
Your brand is your company’s identity. It’s not just your visual identity, logo or color scheme. It also includes your messaging, your tone of voice, and who your target customers are — or how you tell your customers, prospects and the world about your business and product or service.
Nationally, some examples of recognizable brands are Coca Cola, Apple or McDonalds. But national companies are not the only ones with recognizable brands. Regional examples include Jordan’s Furniture and Centerville Pies.
Why is building a brand important?
A good brand differentiates you from your competitors, which is important in persuading customers to purchase your goods or services. In some instances, a strong brand can also block competitors from taking market share from you.
“Coca Cola considers themselves a branding company, not a beverage company. Large companies like Coca Cola prove that investing in branding is worth it,” says Jen. “In fact, the value of the brand can even become an asset that gets measured during a company’s valuation or acquisition. This means a strong brand can add to your bottom line.”
The good news for small businesses is that figuring out your branding does not have to be a big dollar investment, though it does require time and some leg work.
Authenticity is Key
One of the best pieces of advice Jen has is to be authentic and honest. “Don’t pretend to be something you are not. Customers value honesty and companies that keep their promises. It’s always better in the long run to be up front and honest rather than to offer a lofty promise you can’t deliver against.”
Ready to Build Your Brand? Check Out Jen’s Advice Here
At Rockland Trust, we have helped thousands of business owners just like you achieve their goals, from writing a business plan to managing cash flow and more. Check out our Learning Center for more helpful advice.
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