Secret Weapons for Small Businesses & Startups
Photo by Domenico Loia / Unsplash

Secret Weapons for Small Businesses & Startups

Many small entrepreneurs often feel that building a strong and trusted brand is an expensive undertaking that requires hiring a famous celebrity like Tom Cruise. However, this is not necessarily the case. There are several ways for small business owners to establish a well-reputed brand without investing large sums of money or relying on celebrity endorsements. In fact, there are several cost-effective strategies that small business owners can implement to build a brand that is both recognizable and trusted. In this article, we will explore some of these strategies and provide insights into how small business owners can establish a strong brand presence without breaking the bank or hiring a celebrity spokesperson.

Why a businessman should build his own brand?

Developing a strong brand is crucial for any business as it helps customers recognize and trust your products or services. A brand is more than just a name or a logo; it is an experience, a promise of quality, and a source of loyalty and faith. When a customer has blind faith in a brand, they perceive it as reliable, trustworthy, and beneficial to them.

To build a strong brand, businesses must focus on creating a positive customer experience and delivering on their promises. Customers need to feel that the brand is for them, that it will never cheat or harm them, and that it will remain with them in the future. The brand should also be designed to appeal to the next generation of customers, ensuring its longevity.

One excellent example of a brand that has successfully built customer faith is Amul. Its founder believed that the brand should be developed in such a way that housewives have blind faith in it. Amul has managed to achieve this by providing quality products at reasonable prices and consistently delivering on its promises. As a result, customers have developed a deep sense of loyalty and trust in the brand.

However, some businesses make mistakes that can harm their brand, such as cutting corners to save costs, increasing prices during supply shortages, or reducing product quantities while keeping the packaging large. These actions lead customers to feel cheated, and they may switch to a different brand.

To build a long-term relationship with customers and develop a strong brand, businesses must focus on providing a positive customer experience, delivering on their promises, and being transparent and honest in their dealings. When customers have blind faith in a brand, they will remain loyal to it, and the brand will continue to grow and succeed.

How to build a brand at low investment?

The food industry is highly competitive, and most of the listed companies spend a significant amount of their sales turnover, ranging from 8% to 15%, on brand building. However, Amul has managed to build a strong brand with just 0.8% investment in branding in the last five years. 

To achieve this, Amul has adopted several strategies, including the umbrella branding technique, which involves using a single brand name for all its products and nurturing it properly. In addition, Amul's creative advertising campaigns are designed to be memorable, ensuring that people remember them for years to come.

One of the most iconic campaigns developed by Amul is the topical ad campaign featuring the famous character, the "Amul Girl," which has been running for the last 54 years. This campaign has been highly successful, as it keeps commenting on everything from politics, sports to entertainment and social issues in creative and funny ways. 

Amul's success in building a strong brand demonstrates that you don't need deep pockets to build a successful brand. Instead, you need creative ideas, the best media selection, and consistency. 

Building a long-term relationship with customers is also crucial to the success of any brand. A good relationship with customers can be developed by providing them with the best quality products, the best service, the best/affordable pricing, and the best packaging. This relationship should not be for one or two years, but rather for a lifetime, like a marriage.

Keeping Brand Promises

Building a brand is crucial for any business as it helps establish trust and create recall value among customers. To achieve this, it's important to have a brand promise and to deliver on that promise consistently with every product or service you provide.

For instance, take the Amul brand which promises to provide villagers with a good price for their milk every day of the year, making it a value for money option for them. On the other hand, Amul promises consumers that it will use the best ingredients and technology to offer healthy, tasty, and affordable products. By delivering on these promises, Amul has maintained its brand reputation and built trust with both its backward and forward integration.

To position your brand as the top choice in the minds of your customers, you need to focus on creating recall value with minimum investment. Remember, building a brand is not just about advertising, but about establishing trust with your audience.

In management terms, this is known as discrete choice conjoint analysis, which refers to the customer's decision-making process when presented with multiple options. By adopting these techniques, you can create recall value for your brand, become the top regional brand, and stay ahead of the competition.

One of the most important aspects of successful branding is to position your brand on top of the mind of your customers while keeping the cost at a minimum. This can be achieved by using only one brand name for all your products. By doing so, you can build your brand in a way that customers develop blind faith on it, which is crucial for long-term success. 

To create recall value among customers, it is recommended to develop a creative ad campaign that resonates with your target audience. You should also make the best selection of media that reaches your target audience, as this will help you to reach them effectively. You must maintain consistency in your ad campaign and avoid making changes frequently, as this can confuse your customers and harm your brand image.

It is important to ensure that you do not cheat your customers by using adulteration, cheap ingredients, and reducing the quantity of your products. This can severely damage your brand reputation and lead to a loss of customer trust. Instead, focus on using the best technology for production, processing, and distribution to ensure that your products meet the highest quality standards. By doing so, you can build a strong brand that customers will trust and continue to support over time,