In the previous discussion, we posed the question whether branding a small solo business was worth the time and effort it took in terms of the payback to the company?
Typically, the process of branding includes employing or hiring a branding agent or firm, paying huge sums to broadcast the branding message repeatedly, difficulty in measuring the results in terms of the dollars it contributes to the overall business, and lots of effort and attention from the business owner that might be better spent on other business activities.
What do you think? Should a small business owner spend the time and effort it takes to brand his company? Or should he hire an outside firm to do the branding for him?
Here's my thinking.
Branding for a small business is a worthwhile activity if:
1. The company builds its brand organically (from within), in everything it does. Every company sends out marketing messages, to one extent or another, often or seldom, to a few prospects or many. Why not include your branding message into all the other messages and communications, and ads that the company would send out anyway? I'm talking about piggybacking your branding with everything else you do.
2. Your company targets its branding to specific prospects of your companies' products and services. Forget branding your message as Coca-Cola brands its business. Broadcasting what you do to wide general audiences will do you no good -- besides, you can't afford to do it anyway. Concentrate on the audience that will spend money with your business and forget everyone else.
3. Your solo business is planned for the long term. What good does branding do if your business is here today and gone tomorrow? Branding is done today in anticipation of benefits realized tomorrow. If there isn't going to be a tomorrow for your business, why not spend today doing activities that will make a difference right now?
4. Your business is branded with a message that is still relevant in the future. Remember that business owners, products, and technologies change over time. As a solo business operator, you may be thinking about using your own name or reputation or expertise as the brand for your company. But if you do that, will your brand still be of value once you are gone? The same question should be asked of particular products and technologies. It seems to me that a brand ought to be created that will last as long as the business lasts, even if its owners, products, and technologies fall by the wayside or cease to be.
5. Branding leads to increased sales, directly or indirectly. It is possible to brand your business in such a way that your branding is not profitable. If the message of your brand fails to bring more money to the business, your time spent in branding activities could probably have been used in other more effective marketing ways.
6. Your company engages in business that benefits from branding. Some businesses probably don't benefit from branding. What if your business doesn't sell a product or service to the public? Branding is only helpful if it's important to the type of business you operate. Here's an example: I have a good friend that runs a profitable solo business. He consults with one company on the technical aspects of the operation and maintenance of a range of machines. He is a technical expert on these machines and has a very specialized knowledge that is highly valuable to the company that sells these machines. Tell me, what good will it do my friend to brand his business? When he's gone, his business is gone. He isn't looking for new clients. If he and the company he consults with part ways, he is going to retire. I'm sure there are a lot of other situations where a business doesn't need a brand.
What do you think? Is it worth the effort to attempt to brand a small business?
