Branding For Solopreneurs - MERI PEHCHAN

Advertising, Marketing and Branding - Understand the terms well.   Last week, I got a call from one of my friends who bakes the world’s tastiest cakes. Yes, I am seriously lying!   Anyways, she wanted me to draft some catchy captions for her bakery products. As she was a dear friend, so I wanted to know more about her marketing and branding strategy .   I was completely taken aback when she told me that she is relying only on the merits of her product, which she thinks will help her to create a niche.   My dear friend has no knowledge of marketing, advertising, and branding at all. She knew only about one "P" which was obviously her product, apart from it she has no understanding of Price, Promotion and Place. Nevertheless, to say, all these were missing from her strategy.   Several women solopreneurs dream to create a niche for their products, but lack the basic understanding of Marketing, Advertising and Branding. As we always cover topics of women entrepreneur’s interest,

 Making entrepreneurial dreams a reality is challenging. But for women entrepreneurs , these challenges become quite harsh. Women entrepreneurs’ hardships start with obtaining funding, building a support network and subsiding the fear of failure. Data states that 1 in 3 business entities are owned by female entrepreneurs . This number further drops down in low-income countries, where 1 in 4 businesses are owned by women. In this blog, we will try to understand all the challenges that make entrepreneurial dreams difficult for businesswomen.  Lack of Digital Awareness Several women entrepreneurs have a basic understanding of digital and eCommerce platforms. They fail to understand that a mere social media presence can not provide leverage in the digital world. Many businesswomen discount the relevance of websites. However, websites play a critical role in establishing your brand’s identity and business image. We understand that website designing needs funds, which may be a challenge for

 Brands weave successful business stories. Data suggests that 46% of customers like to pay more for the brands they trust. It is the branding strategy that provide a first impression of your product that makes it stand tall in the competition. Before going into depth, here is an example that reinforces how branding provides a competitive edge to products. It was Raina’s 3rd birthday. He is very fond of cars. So, his mother decided to order one car online. Before ordering, she asked Raina about his likings. Without wasting much time, Raina said that he wanted to have a Hot Wheel Car. Many of us might have faced similar situations at home, but may have not known the power of branding before. Small children with the least clarity about products and features prefer to have a particular toy because they can easily recall their brand - And this is the real power of branding. Although this was a small example but it successfully establishes the relevance of branding on a bigger context. Wit