While the internet provides an abundance of helpful resources when it comes to branding education, there’s also a lot of misinformation out there. Here are 10 of the biggest misconceptions about branding for small businesses.
1. Only the “Big Guys” (AKA Larger Corporations) Need It
False. If anything, it can be argued that small businesses need powerful branding MORE than their big-name competitors if they want to stand out to potential customers.
2. Your Logo is Your Brand
We covered this one in depth, which you can read by clicking here, but we’ll reiterate: it is NOT.
3. Your Logo is Your First Step
While we’re on the subject of logos, we’ve also seen many businesses consider this their starting point. But your logo should be a reflection of who you are, who you serve, and what your purpose as a business is. The exploration of these fundamentals is the first step of building an authentic brand.
4. Branding = Marketing = Advertising
We frequently hear these terms used interchangeably, but in reality, they refer to different things.
The definition of “Marketing” is “the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large.”
In simplified terms, consider the 4Ps, which are also referred to as the Marketing Mix: Product, Place, Price, and Promotion. These are the essential factors involved in marketing a good or service to the public.
Advertising is one component within Marketing (Of the 4Ps, it refers to the “Promotion” factor).
Your brand is the ethos of your business. Branding involves ensuring everything your business does and communicates to your customers through every touchpoint is clear, consistent, and authentic. (We know branding is confusing, so we dove into the topic here, if you’d like to learn more.)
5. You Need to Appeal to Everyone
It may sound better to be well-liked by everyone, but if your brand is appealing to “everyone”, it’s a sign that you aren’t taking risks or truly resonating with anyone. By finding your target audience, you’ll attract more passionate followers, gain your customers’ trust, and be able to easily make the best decisions for your business.
6. Branding is Expensive
Sure, if you look at the expenses of large corporations, they have a seemingly endless budget for branding and marketing their businesses. But as a small business owner, it doesn’t need to cost a fortune to have your brand done well. It ALSO does NOT mean you should go with the most affordable solution. (Read: 5 Ways DIY Website Builders Ruin Your Brand) The key is to partner with a business who will work with you to build your brand based on your specific needs.
This leads us to our next point:
7. Great Designer = Great Branding
Ah, if only this were true. Unfortunately, even stellar graphic designers aren’t necessarily equipped to handle branding strategy and development. Don’t make the mistake of being a “beautiful, but dumb” brand.
8. Follow Current Trends
Too often small business owners get FOMO when new visual trends come on the scene. At the time of constructing this blog, we’ve noticed the trend (for both designers and businesses/their clients) of a “cozy” aesthetic. Elegant serif fonts, images enclosed in arches, earthy neutral tones, a slight grain to the visuals, and comforting backdrops like gilded mirrors and pampas grass. Have you noticed? You will once you finish this blog, trust us.
But following trends does not resonate with your customers in the long run. They want to understand who you are in order to align themselves to you, and if you constantly change your visual cues to them, you will be forgotten or no longer trusted. Not only that, but also blending in with what’s trendy won’t make you stand out from the countless other businesses using the exact same visual identity. Remember, you are unique to your competitors, so don’t try to blend in with them.
9. Branding is Optional/Just Bells and Whistles
Branding isn’t about decorating your business to look good. It’s about understanding your business Core: your Purpose, Vision, Mission, and Values, and then communicating that to your audience through various touchpoints to create a unique experience.
10. Branding Doesn’t Make Money
The biggest and most costly misconception of them all. Branding is your business’s MOST valuable asset. It’s an investment in proclaiming who you are in order to attract customers, retain them, and gain more through referrals and marketing strategies.
The key takeaway:
If you aren’t invested in branding your business, your business will not grow to its full potential. Branding is crucial to ALL businesses, both big and small, and every day you put off prioritizing it is a day your business loses money. It’s time to take charge of your business and turn it into a profitable brand. Contact us today to get started.