The Great Recession forced many into unemployment, and then something else happened: many of those people took the initiative to go into business for themselves and take advantage of the entrepreneurial climate.
Now there’s a new phenomenon facing many of the self-employed: they’ve become successful but can’t seem to take it to the next level. While they’ve done a great job building a business, they have yet to build a brand. Building a brand is what all small business owners need to strive for in the new economy to get noticed, to gain recognition, and to enjoy a new level of success.
Here are five strategies for developing a strong brand:
Partnerships inside and outside of the industry
The old saying “it takes a village” is the best advice to turn your business into a brand. The more key partnerships you build both inside and outside of your core area of expertise, the more opportunities will come your way. In the digital age, this is becoming easier thanks to social media platforms, blogs and services like YouTube.
Increase visibility
Speaking engagements, sponsored gimme bags for events and media appearances are great options if you don’t have the budget for traditional advertising. The more you get your name out there, the more recognized you’ll become. Additionally, the upside of speaking engagements and media is that both imply endorsements — advertising, on the other hand, just offers visibility.
Products
Don’t just provide a service; turn it into a product. Anyone can become an author or produce an audio program these days. Our core business is interior design, but we have leveraged our expertise with a licensed line of kitchens, furniture, hypoallergenic bedding and bath products.
Plus, we wrote a book and are working on a line of mommy & baby products because I’m a new mom. Get creative and see what products you can introduce to the market.
Persistence
It’s called brand building for a reason: it takes time and your foundation must be based on expertise in a core area. We all want success overnight, but it takes persistence and time to build real customer loyalty. If it’s rushed or faked, people will see right through it. If done correctly, you’ll have a loyal following that will support your business for years.
Tag consistently
What catch phrase are you using to describe your company or product? However you brand yourself, keep it consistent. I’m tagged as Robin Wilson, an eco-friendly or healthy space designer. Use the same language in all that you do, and your industry will begin to understand your brand.
As business owners, we tend to do everything we can to serve our customers. Make just a small amount of time each day to implement some of these strategies, and you’ll start to make the transition from business to brand, and watch your company grow.