In the business world, the term ‘branding’ is used to refer to the business “identity”. This is how one defines their business to themselves, their team of employees as well as their prospective clients. How one promotes their brand to the market is very important. There are very many advantages that come with positive branding.
Most small businesses do not take much interest in branding or marketing their business brands due to the notion that branding is costly, and it is meant for big businesses. But this is not true at all. There are several ways in which one can market their business brands; at very low costs, and these include the following:
This refers to unconventional, low- cost, and innovative marketing techniques, whose aim is to achieve maximum coverage for a product or business service. It is all about taking the prospective customer by surprise and create a social buzz. An example of this is where you can pay a local artist to do a creative and mind-boggling art of your product on a particular wall and let this attract people as they try and see what it is all about, and in turn market your brand.
In this modern world, one cannot afford to ignore the power of the social media platforms, such as Facebook and Instagram. One can use these channels to market their brand, by posting photos of their product, and maybe adding a caption to it to attract attention. This can be very effective, as well as very cost friendly.
The media can be a very powerful tool in marketing your brand at a very low cost. One of the ways of doing so is by inviting them to cover your business, or organising a charity event. For example, a barber shop can offer free haircuts to the homeless for a day or even a weekend, and prior to this use the media to make the announcement about it, or call them to cover it, and in turn, you will have advertised your brand to the public.
The other way in which one can also market their brand on a low budget is through giving of gifts, and organising small fun activities, and competitions. An example of this is where you can have a small brain challenge, and the winners get gifts which do not have to be expensive, such as fridge magnets, pens, or even key holders. This will sell your brand and create a lasting impression on people’s minds.
In this case, one needs to capture a group of consumers of your product who are willing to vouch for, and publicise your service or product to their communities. They tend to spread the word out there for your product, to a larger audience who now get to know about your product, and a good percentage may actually give your product or service a try to ascertain about what your brand evangelists are saying about it. It is therefore important to treat existing consumers with utmost respect as your brand can really grow just from referrals.