Why do small businesses neglect their brand?
Here are a few of the main reasons why small companies neglect their brand:
A lack of information
Traditionally the area of branding has been the domain of large, often multi-national companies concerned with their reputation. Consequently, there tends to be a lack of practical information concerning the topic of corporate communication and entrepreneurship with most information focused on large companies. The information that is available tend to neglect the unique circumstances of small companies such as a lack of money, no dedicated marketing department and weak internal structures.
A lack of vision
A focus on operational issues with little time to think of the future. The result is that owners of small companies are trapped in the present and often do not think big enough about where their business will be in 10 years from now.
Old school thinking
A belief that only consumer focused companies need to brand themselves, leaving many companies focused on business markets (B2B) to neglect their brand.
Too many SMEs are stuck with neglected brands, resulting in them never truly realising their full value. The good news is that with the digital world we live in today even the smallest company can afford to invest in its brand.
Here are a couple of (free) ways to market your business:
- Open a page on LinkedIn to showcase your business to potential new employees.
- Start a company blog to update customers on a regular basis on what is happening in your business. Show the world that you are a thinking AND doing company.
- Use Twitter as a tool to gain market information. If you want to sell pomegranate flavoured water, search for the word pomegranate on Twitter and see what the discussion is about.