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Brand Building on a Budget

5 effective, low-cost ways to initiate a branding strategy for your growing business

August 25, 2008
Edited by: Ken Beaulieu in: Brand Building Online

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A brand communication strategy is essential, and over the past decade especially, it’s been a well-hyped trend for businesses large and small. But here’s the irreverent truth: The branding craze is also a gimmick and a scam. There are plenty of snake oil salesmen out there claiming to be “experts” in brand positioning and brand identity marketing. They’ll gladly charge you an arm and a leg for their time, but in the end, your head will be spinning, your wallet will be drained, and you’ll be wondering why you were dumb enough to go through the hassle.

The unfortunate mistake many entrepreneurs make when they enter the brand-building process is to allow others to turn their business into something it’s not or something they don’t want it to be. Don’t fall for the spiel from twentysomething brand management hotshots who say you need to compile a lengthy report on market demographics, conduct an expensive round of focus groups to assess your name recognition and competitive advantage, and commit to a pricey integrated marketing communication campaign.

Since branding gurus generally charge by the hour, you can save a lot of time and money by doing much of the hard work yourself. Here are five tips to get you started:

  1. Draft a mission statement. Or tighten up the one you have, stating your raison d’etre so clearly and succinctly that anyone would understand. Then develop a couple of possible marketing slogans no longer than a short sentence each.
  1. Enlist a local artist to help craft or enhance a logo that reflects your mission statement. You can hire a professional graphic designer later to polish up your concept.
  1. Don’t ever be squeamish about self-promotion. That doesn’t necessarily mean billboards, TV buys, and radio spots. To increase visibility, sponsor a community event that connects your customers to the positive values you share with them. Or host a workshop about an important service you offer — and invite the media.
  1. Ask existing clients to give testimonials. They could describe how you helped them and how gratified they are. This will help you distill your brand appeal, in addition to providing content you can use in print and online advertising.
  1. Constantly engage in self-reflection. Whether you’re building your business or you already own the market, be brutally honest. You can call yourself the best at what you do, but unless you back it up every day, you squander credibility, which is difficult to earn back.

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