How Branding Provides a Competitive Advantage to Small Businesses

 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.

Small Business branding strategy


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. Without denying it can be said that a robust branding strategy can seamlessly help a brand to gain a competitive edge over competitors.


How Branding can Help Small Businesses : Importance of Branding

Your brand is the reflection of your business philosophy. Your branding strategy  helps customers to form an impression about your product. Your voice, mission statement, website content, social media messages, packaging, color combination, and logo - all play a significant role in branding.


Small business or big - branding helps each business to attract new and retain old customers.
If you are still not clear, here are the reasons that advocate how branding can help your business.

1.    Branding helps small businesses to stand out in a saturated or competitive market.
2.    An established brand gives the impression that you are an expert in your field. With branding, small businesses create credibility among customers.  
3.    Brands help to earn a premium. Small businesses can charge well for their worth and uniqueness.
4.    Branding helps to attain loyal customers. For instance, Ranchi Convent by Namrata Jain Jalan is a small brand that deals in Parsi Gara embroidery. So, whenever I wish to buy merchandise with French notes or Parsi Gara embroidery, I always consider them.
5.    Businesses that invest in their brands enjoy customer referrals and word-of-mouth publicity.
6.    Consistency is a challenge for small brands. Be it the product packaging, color theme, or product dimensions. Branding helps small brands maintain consistency.
7.    Branding provides focus. Focused businesses easily make their customer base in their ideal customer segment.
8.    Small businesses may find branding time-consuming or costly. But they will find it more beneficial with multiple rewards over a longer period of time.
9.    Branding instills confidence in businesses. Adding new products, offers, and cross-selling becomes easy to brands.
10.    Businesses that follow a clear branding strategy experience better clarity in vision.


Our Advice to Small Businesses

You are a small business, solopreneur, or social women entrepreneur. Your start can be small, but your decisions and branding strategy will make you a renowned brand in future.

How  ‘Meri Pehchan - the Business Bio Website’ will help me

We help small businesses and women entrepreneurs with their branding strategies. We have business bio website templates, which you can use to identity to your brand’s.

If you are still uncertain, you can reach us here.



Author

Rajni Gobhil
Founder: MeriPehchan.Me

Creating Bio Websites & Helping Women solopreneurs/ homepreneurs in Branding & Communications.

Connect at: contact@meripehchan.me

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