There are many things to think about especially when launching a business. A lot of unexpected expenses do come along the way. Branding is indeed expensive. Yet it does not have to be that way. Entrepreneurs and existing businesses can use various aspects of branding, especially a brand identity that makes quite an impact on a budget.
One of the best ways of doing so is doing as much as one can do by themselves instead of outsourcing it. That being said and done, time is indeed valuable especially when it comes to getting a new business up and running.
It is important to determine and understand where the money spent is going. Spending a portion of it on tools that make the process seamless works. Alternatively, some of the work can be outsourced especially if help is needed.
Now would be a good time to understand about branding based on insights from marketers working at a logo design company. They will also explain why it is important to start branding on a budget.
But first, let us understand what branding is all about and why it is important
Marketers explain that branding is everything potential customers observe and interact with. Also, what differentiates them from the others in the market? It covers the following:
- The website’s tone is written.
- The product’s packaging.
- The social media content.
- The social media presence.
- The platforms used.
- Frequency of posting on digital and social media platforms.
- Level of interactivity of the company.
- The brand’s visual image and look.
- Consistency in the brand’s colors, fonts, and logo.
It is important to be thoughtful about the choices to be made. Branding helps form the first impression people have about the business, brand, and company.
Branding is important. It helps companies build relationships with their ideal customers. It is the way they share what they are passionate about, talk about what makes them stand out from others, and thus create brand recognition.
Let us consider a small example of the options regarding chocolates and snacks present at a local store. Arguably each brand may sell chocolate that can be slightly similar with some subtle or major differences. What sets it apart is the packaging, colors, names, logos, and brand personas.
Different brands cater to different audiences. Some chocolate brands are specialty chocolate makers working in boutique chocolate-making kitchens while some are made in factories i.e. some are affordable, some are for everyone, some are for certain people, and vice versa.
How important is investing in branding?
Business owners believe it is important to invest in branding. A small survey conducted reveals that 78% of business owners (small business owners) believe that visual branding can contribute to revenue growth by quite a margin. 84% claim that it helps them attract new customers and 88% says branding plays a significant role in creating trust among customers.
Handy tips for branding on a budget
Creating an ideal client profile
The creation of an ideal client profile is an important part of the process. It helps companies customize their product for their specific client. It should answer the following questions:
- The name of the client, their age, and the place where they live.
- Does the client have any pet peeves that companies should be aware of? (Lack of detailed graphics, app hanging up, slow loading website, a problematic service representative, inability to reach the support team, etc.).
- How is the product improving the customer’s quality of life?
- The core values.
- How will the product be used?
Making the brand’s visual presence
Logos are an important part of the brand. Each person out of five can judge the product quality based on what the logo looked like. No need to undervalue a logo’s importance. It is a key part of branding. This is one of those areas where the company can spend some of its budget to improve its branding efforts. Some tools can help improve branding. Here are some options to consider:
- A logo maker can be used. They are affordable and user-friendly. However, they have some downsides especially the fact that their outcomes are generic and require no input from designers. They can even overlook the latest logo design trend.
- DIY (Do It Yourself) logo tools can help those with a bit of experience. They can help business owners make the logo themselves.