Small Business Marketing Strategies - Branding

Small Business Marketing Strategies - Branding

One of the most important things any small business can do is to align its inputs to match the marketing strategy it has adopted. Here are three common branding strategies which can be aligned, along with why they matter to customers:

Highest quality branding If your business brands itself as providing the best possible product, it can be beneficial to get the best possible products and services from your suppliers to support branding efforts. This is especially true when savvy consumers are aware of what these best inputs are. If your customers are not aware, it is worth explaining to them how your product or service works, as well as why this makes your offering superior to those provided by competitors. This often provides reassurance that the product or service being purchased is well worth the money spent.

Lowest cost branding On the other hand, if your business prides itself on being the lowest cost provider, then obtaining the lowest cost supplies that also provide the best value for the money should be emphasized. Once customers understand that it is unlikely that they will find a better deal elsewhere, this removes a most of the potential risk of regret, which can prevent customers from buying now. Outside testimonials, reviews of supplier offerings, or other independent verification can assure customers that while the prices are low, it is not at the expense of hidden costs, such as frequent replacement costs.

Best-of-breed branding Many times, your products and services are actually compromises between higher cost quality components, and lower cost components which are less vital. Here it is simply a matter of combining the two strategies above, with the additional challenge that each of the product or service benefits must link to the needs and desires of customers in ways which are justifiable. Ultimately, the business which does the best job of this in marketing is in the best position to win the customer.

In other words, whether your business uses a branding strategy of highest quality, lowest costs, or best-of-breed, it is nevertheless important to communicate to the consumer why this matters, a

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