Major corporations spend hundreds of thousands of dollars, even millions of dollars, to build their brand. The investment in time and money can be staggering, but the positive results are clear.
But what about a start-up company that has a very limited budget, or a company hit by the economic crisis? How can those with very little money hope to develop a strong brand image when they don't have the budget?
The answer is in the basics. There are a number of things you can do to develop a positive brand image with absolutely no money!
Understand your market and competition
If you are to develop a standout brand image, you must first understand what your marketplace looks like, and who your competition is. If you have a hardware store at the north end of town, and there is a hardware at the south end of town, you should visit that store, look at the special offers they have, check the quality of the products they offer, and see how they present themselves. It's tough to do something better than your competition if you don't know what your competition is doing. But it doesn't cost a thing to check out others in your marketplace. That fits anybody's budget!
Provide above average service
This may be the most important thing you can do. Our society has become very accustomed to a fairly mediocre level of service, so setting your business apart by offering good, solid service and products can immediately begin to generate a positive brand. Be friendly, helpful, understanding and get your customer's name. If they come back, work hard to remember their name, and treat them like an old friend. Do business with them using honesty, and fairness. You'll be surprised how quickly word will spread if you do this consistently, and with conviction. A courteous smile costs nothing at all.
Personalize your business
Humans are a gregarious species. We want friends, and contact. (Well, excepting Howard Hughes, perhaps.) So, the more we can make doing business like a personal experience with someone we know, the more people are likely to enjoy it. With that in mind, if you have signs up inside your store, or business, don't just state facts. (Shovels Half Price) Talk to your customers. Start a conversation! (Working in the garden? We have shovels available for half price!) Consider using photos of smiling faces, or posting helpful phrases (We're here to help! Just ask us.) on the walls, or in key places. To the degree that you can, give your business, or your building, a face, ...a personality. Make the experience more like a friendship, and less like a transaction. You can afford it!
Build business relationships
We go into business to make money, and in order to do that we need sales. But, sometimes, it can become too easy to focus on completing that one sale in front of you at the moment. But what helps a business survive, long term, and what builds a stronger brand, is to build solid, long-term relationships. Think in terms of how you can encourage a client to come back and do business with you again. Be certain you have alleviated any concerns they may have about doing business with you again. Help them feel welcome, and give them a reason to return. The owner of a sandwich shop I frequented gave everyone who purchased a sandwich a punch card. You got a punch for each sandwich you bought, and the seventh sandwich was free. The cost of that seventh sandwich amounted to almost nothing, by the time they had bought six, but that punch card represented a relationship. It was an agreement between the business owner, and the customer, where both parties benefited.
Follow through
To build a powerful brand, customers must feel they can trust you. They must believe you will do whatever you say your are going to. If you say you are going to offer the lowest prices, you must do that. If you tout better service than your competition, you better provide it. You must follow through on the promises you make. Not just for a week, or a month, but for the life of the business. Once people begin to feel they can trust you to follow through, they will be much more inclined to turn to you when they need something. Say what you'll do, then do what you say. It doesn't cost a thing.
Exceed expectations in every way
Once you understand your marketplace, know your competition, begin providing above average service,....once you personalize your business, build some strong business relationships and follow through on promises, you'll see that you are exceeding people's expectations. They will be looking forward to doing more business with you. It's such a wonderful treat to have our expectations exceeded that we become hungry for it. We'll make up excuses to go and have our expectations exceeded again! If you want a brand that sets you apart, and above your competition, learn to give your clients more than they anticipate. They're going to love it, and so are you, even if your "marketing pockets" are empty.
Spending money on marketing and brand development can pay huge dividends, and you should always set aside a reasonable marketing budget, but there is a lot you can do to create the image you want, without spending a dime. Why wait? Get started today!
