Bookkeeping Tips on Branding Your Business

5 Quick Tips to Promoting Your Brand

Forbes Bookkeeping Tips on Branding your BusinessIf you “brand” cattle, you take a hot iron and burn a symbol onto the backsides of your animals so that anyone can recognize a stray as belonging to you. If you “brand” your small business, you market it in such a way that anyone seeing your promotions will recognize them as belonging to your products and services.

How you brand your business is important. It is how the public perceives your business; and someone once said perception is reality. Consider these slogans: “Good to the last drop;” “Don’t leave home without it;” “Just do it.” If you recognized them as belonging to Maxwell House, American Express, and Nike, then they did a good job branding their products and services.

But slogans are just one part of creating a successful brand. Here are five other things to consider in creating a brand for your business:

  1. Values – What does your business stand for? Are you dedicated like Avis? (“We try harder.”) Reliable like Federal Express? (“When it absolutely, positively has to be there overnight.”) Confident like Braniff Airlines? (“When you got it, flaunt it.”)Before you brand your business, you have to determine how you want your target market to perceive you. You might think it’s a good idea to be flirty and fun in your promotions, but if your promotions don’t accurately represent your values, then they don’t accurately represent your business.
  2. Persona – Do you want your persona to be fresh and vibrant? Dynamic and reliable? Steady and dependable? Consider your logo, the type-face you use, the personality and style of your promotional materials. The important thing is to recognize the persona you want for your business and ensure that every promotion you run adequately represents that persona.
  3. Cost – While most business owners don’t like to figure cost into the branding-equation, it’s important to recognize that it does influence the perception of your business. So why not be proactive and include it? Consider companies that state outright that they charge what they’re worth so that you get what you deserve. That type of honesty will be recognized as part of your brand.
  4. Range – What range of services do you offer? Your brand should also include a range of services. The last thing you want is for potential clients to expect certain services only to realize you can’t fulfill their needs.
  5. Benefits – What benefits do you offer current and potential clients? This requires you to know your industry and articulate the edge you have over your competition. Consider State Farm Insurance: “Like a good neighbor, State Farm is there.” The insurance industry is often viewed as cold and calculating. State Farm tries to communicate that their friendly and compassionate service is unlike any other insurance company. You should communicate the advantages your clients can expect because they’re working with you.Once you’ve gone through these five elements and have defined your brand, you should be sure it’s communicated in everything that represents you: your website, your promotional materials, your storefront, your business cards. Everything about your business should include this brand. And once your target market comes to recognize your brand, you’ll find they’ll come to you for the services they need.

If you need help ensuring that your budget can cover branding expenses, enlist the help of an accountant! You’ll receive help to manage your finances so that your business can be successful. Call us today.

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