I have a small budget. Is brand for me?Transcript
It’s common to
dismiss brand when you have a small budget.
That’s because historically, the most famous brands have been the ones who could afford to advertise to woo their customers. So, many consider brand to the domain of those with large budgets.
But brand works for businesses in all categories and of all sizes. In fact, the businesses that most need an intentional brand are the ones that can't afford expensive customer outreach.
In other words, businesses with small budgets have at least as much to gain as those with large budgets, because they can't afford to be unfocused.
Brand is what you stand for in the mind of your customer. Brand strategy is the deliberate articulation of what you want that meaning to be, so that you can make everything you do reinforce and ignite that meaning.
When you choose your brand deliberately, rather than passively, you give yourself the advantage of a laser focus, of a North Star that can guide you to grow in only the way that you can.
A brand strategy allows you, naturally and sustainably, to earn your customers’ attention rather than having to purchase their involuntary attention through advertising or other paid outreach.
A brand strategy creates focus, which heightens the effectiveness of all of your spending and all of the time you spend on your business. This is particularly important for businesses on a shoestring budget.
Do you lead a business with a small budget? Have you been dismissing brand as the domain of the big and deep-pocketed behemoths?
Remember – if you have customers, then you have a brand, and it pays to be intentional about it by creating a deliberate brand strategy. This can then be your North Star to grow regardless of your budget.