ONE OF THE BIGGEST hurdles for any new business is building a customer base and establishing a brand. When a company is just starting, they often lack the budget to do a lot of promotion, or the clientele to get word-of-mouth business. But even without a lot of resources, developing a strong brand identity is key for any company in any industry to succeed. Not only does it help with name recognition, outlining what your company stands for – its mission, if you will – can also help attract like-minded people. Good branding builds recognition and trust with customers. The good news is that it’s possible to develop a brand and raise awareness using cost-effective methods that won’t break the bank. Here are the top six ways companies can make this happen.
Know What You Stand For
One thing that can separate a company from a rival is what it really represents. If your business is all about environmental sustainability, that needs to be part of your brand. You need to create a mission statement that outlines the purpose of the brand and how it will serve the customer. And then you need to take that mission statement and bake it into every aspect of your business.
Choose an Unforgettable Name and Logo
When choosing a name for a company, it’s essential to find one that conveys what your business does while being memorable. The process can take time, but it’s an integral part of your brand. Once you settle on a name, design a logo and a visual identity that you can consistently use for marketing materials, from web pages to business cards. Remember, it’s possible for names and logos to become memorable for all the wrong reasons, so make sure your company name doesn’t have an unintended meaning, or that your logo can’t be misinterpreted.
Be Ready to Network
Never underestimate the power of showing up and doing some traditional networking. Attending events and handing out business cards can lead to new sales leads and customers. This is one of the reasons why online tradeshows and conferences have suffered since the beginning of the pandemic. After all, there really is no substitute for face-to-face connection with current or potential customers and clients.
Build a Social Media Presence
Connecting with like-minded people and potential customers is important for building brand awareness. Having a presence on Instagram, Facebook, Twitter, LinkedIn, and TikTok is a great way to spread your brand’s name. Content shouldn’t just be about the company and its offerings. It should engage with users by offering tips or information that reflect your brand. It also doesn’t hurt to have the occasional discount code or sales promotion.
Embrace Guerrilla Marketing
Guerrilla marketing is a technique that focuses on reaching customers through unconventional interactions. One practical and cost-efficient way is using things like stickers or decals in strategic locations. Putting your logo on a sticker with your website on a telephone pole or streetlight could catch a customer’s eye and have them follow up. A viral video promoting your brand could generate colossal interest if you have the creativity and skill.
Work with Influencers
In the new digital economy, influencers wield significant power. Some powerful influencers have millions of followers, and if you can get one that covers your industry to mention or promote your business, it can lead to a dramatic increase in traffic and sales. This type of promotion is not free, though the cost will depend on the tier of the influencer. A micro-influencer with a solid following could help build some buzz around your company for a new business.
Developing and promoting a brand takes time, forethought, and effort. But it doesn’t need to cost a vast sum of money, which is a good thing because even the biggest businesses need to be efficient and cost-conscious. They do not have the luxury of huge budgets nor the ability to hire a Kardashian. By following these tips, a new company can reach its target audience, develop some name recognition, and generate sales without overspending.