Branding on a Budget
When it comes to branding you may not be able to out-spend your competition, but you can always out-think them. Consider these four ways to brand your small business even with a small budget.
Are you trying to promote your brand on a tight budget these days? Well then, it’s time to start out-thinking your competitors since you probably can’t out-spend them.
Many COSE members have found simple yet creative ways to get lots of positive exposure—for free. They harness the concept of "target marketing” by precisely defining and describing their ideal customers with specific demographic details—those who really need their products or services, value their approach and style, will always pay full price and will easily evolve into raving fans.
Here are four avenues to explore when it comes to branding your business on a tight budget.
1. Written Publications. If you know what trade publications, eLetters or blogs your target market reads regularly, try to publish content in them that promotes the value of the concepts behind your products or services. But, don’t try to sell. For example, write about the importance of data security for small businesses, not the specific data security service your company provides. Allow the exposure to ‘brand you’ as an expert. And pitching content to COSE’s Mind Your Business is a great place to start*. Hey… works for me!
2. Professional Groups. If you know what professional or business group events your target market used to attend before Covid, offer to speak at them after restrictions are lifted. Same caveat—speak about the value of the concept, not your specific product. Allow that exposure to also brand you as a dynamic and engaging expert. And don’t overlook those groups who pivoted to on-line workshops with speakers.
3. Pro Bono Work. Volunteer your time and talents to some of those groups. Showcase your expertise. The classic example is the website designer who freshens up the organization’s site pro bono, in exchange for a mention on their home page. Allow the contribution of time and talent to help brand you as a professional who gives expertise willingly to support worthy organizations.
RELATED: Check out more articles on working pro bono.
4. Referrals. Always ask for referrals from happy customers. Let them become an extension of your sales team—or your entire sales team. Testimonials on your website can help, but not as much as a happy customer calling a colleague on your behalf. And the larger the customer’s organization, the greater the chance for internal referrals to other divisions and departments.
RELATED: Read more by Phil Stella.
One final tip: Whenever you network at small business-oriented events, ask people you meet how they brand their businesses on a budget. You will be amazed at what you can learn.
So, "No-Budget Branding” is a simple and clever suite of strategies but they’re not easy. They require time and effort, especially if you don’t want to invest the money to have a branding pro do it for you.
Phil Stella runs Effective Training & Communication, www.communicate-confidently.com, 440 449-0356, and empowers business leaders to reduce the pain with workplace communication. A popular trainer and executive coach on writing, communication styles and sales presentations, he is also on the Cleveland faculty of the Goldman Sachs 10,000 Small Businesses program.
*If you are a COSE member and would like to contribute to Mind Your Business, please email Marie Zickefoose.