Six Weapons For Brand Managment And Profit

Why Is Brand Management Important?

Solid, consistent, well-managed brands will produce higher market values and competitive advantages for the small businesses that develop them. Each time a person connects with your brand, the experience they have plays a part in illustrating who you are as a business. Brand management is what converts a small business concept in to a household name.

Here are my tips on how you can effectively build your small business brand.

Think small – are you giving a message that will be enticing and interesting to your target customers? From logo selection to web site color schemes – every little feature may well play a part in how your business is being viewed by the public.

Aim for instant client recognition – snappy slogans and taglines are used because they are certainly much more likely to be remembered. When your tagline is generated with your unique core differentiator in mind, it can also keep the whole organization focused on your vision.

Develop your elevator speech. In any given scenario you might just find yourself being asked what it is you do for a living. Have a precise, interesting and brand-dropping response to this question that you are able to call upon in just about any networking environment.

Share your experience – in fact, BE an expert in your field of business. Arrange talks, workshops and interesting forums in order to give a boost to your personal and business brand recognition.

Small Business Skills

Know What Your Customer Wants

Conduct market research – positioning your competitors according to size, business model and credibility. Map out where you want your business to fall in relation to your competitors and focus on targeting that segment of the market.

Perform internal reviews – analysing your business’ strengths, weaknesses and capabilities. Do you have exactly what it takes to corner that part of the market that is missing? Keep in mind, we have a very effective system to help you identify many exciting opportunities by applying this philosophy – it is known as a SWOT Analysis.

Look at a PR firm to manage your reputation. Public Relations is also a powerful tool when dealing with small-scale brand disasters, dousing fires before they can spread and cause damage to your business. You can even engage a stand-alone PR person who focuses on the small business area and who could probably add real value on a small-business budget.

Tackling the management of an on-line presence or brand can be a huge burden. Start with the ‘hub’ (your website, company blog, social media sites, etc.) and focus on a strict monitoring system of all comments and mentions, both positive and negative.

Once you secure the ‘hub’ you are able to start the ‘hunt’, connecting further into the online world, looking for opportunities to introduce your brand.

Reputation plays a huge part in determining your business’s final profit result. An article in the New York Times once noted, “Your customers are talking about you, and the whole world is listening …” Sure, for most of us our world may be very small – nevertheless it is still listening closely!

Brand management ensures that the world likes what it hears about your small business and gives them a reason to buy from you rather than your competitors.

Brand Management

Don’t Count On These Ladies Remembering Your Brand Anytime Soon!

 

Copyright 2012 Bullseye Business Systems Pty Ltd. All rights reserved. Adapted with permission from http://www.ranone.com

What do you do to manage your small business brand? Please share your thoughts below.

 

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