Working with many S.M.E.’s and small companies, helping them with their Brand awareness, we come up against the differences between Branding and advertising here we try to demystify the concept.
Branding is how people feel about your business; if you showed your logo to a group of people how many would recognize it immediately? and researchers will then ask
“How do you feel when you see this brand?”
For smaller companies just building their brand it’s how you feel when people receive and read your business card then say something like:
“Aah yes I know your Company; you guys are doing good things”
Your job is half done already! Brand awareness is all about understanding your customer. Does your brand inspire credibility, does it motivate and also does it create loyalty?
Training shoes are a fine example: I am sure many top brands are actually made in the same factories as their lesser branded counterparts, same quality for sure, however your see your favorite sports star wearing Nike so you head for the Nike. The bigger brands budget on Branding is phenomenal ask Adidas what they paid for the world cup campaigns and how much they get back this year they will tell you a huge loss this year but massive growth over the next 5 !
This is all very well for the big corporates with bug budgets, but how can small companies brand? Well banner advertising is one way and try to think of how many impressions you are getting and try not to think of clicks through converting to sales just yet.
I was once in a customers and they are struggling with the concept of website impressions, I tried comparing to drivers seeing a road side banner and that being instilled in their minds, but that was not ‘going in’ so to speak so I asked for a blank piece of paper and their logo stamp with ink.
I held up the piece of blank paper and said this is your customer’s brain, and then I inked the stamp and bang really hard on the paper and said
“That’s one impression”
Then I proceeded to bang the stamp all over the paper and said
“Only 399,999 impressions to go”
(As 400,000 were the average impressions for a three month banner on contactbangkok.com)
Of course they stopped my crazy metaphor before I ran up a huge Ink Bill but I got the message across!
So creating brand awareness for smaller companies and to some extent S.M.E.’s, is like your property mortgage payments, you seem to really struggle in the early years with payments and there seems to be little respite or return of Investment however stick with it if you want a decent business. Think of it as Karma what you do now may not return any time soon but all circles come back to the beginning! And soon if you stick at it money starts to come in and you have reached brand awareness and that is the snowball point where your company is growing without you even doing that much!! The same point most home owners reach somewhere around the middle of the term where the property is now doubled and the payments are so little now!
Your branding budget should remain steadfast throughout the life of your business by doing:
Web site banners (with decent impressions)
Community relations
Press releases
Bloggs
Networking Events
Collaborations
Magazines
Billboards
Radio
T.V
Good Luck