Brand marketing, branding, brand strategy… in addition to practically synonymous terms, they are practically unknown territories for SMEs. For a small company, marketing, and even more so if it is digital, is synonymous with sales. If I invest X, I want to get at least X +1%. Something that all of us who are dedicated to marketing know is not a reality, and even less so if we only launch sales campaigns and punctually as most companies do. With this context or that of a company that is somewhat more mature in marketing, how do you convince an SME that doing brand marketing is important for your company? For me the steps would be: Explain well what branding is and what it is for Show you data that convinces you.
What is branding and what is it for an SME?
When I talked about brand positioning on this blog a few years ago , I defined it as: “The representation of the tangible and intangible values that the company provides through its brand” What does branding mean for an SME? But to explain it in a simpler way, I think it is better understood if we talk about brand marketing. That is, how we apply it to industry email list reality. I could say that for an SME branding is: What is brand marketing or brand marketing? Talk about the company’s history with your audience I think this is the simplest way to define it. If we add some details we could say: Make known the values and attributes of the company. Connect with the company’s audience by explaining the whys and wherefores of the company. Give reasons, beyond those of the product or service, to trust the company. To all this I would add that the starting point of branding must be the brand purpose .
How can we quantify the benefits of a brand strategy for an SME?
There are no studies on this in SMEs in Spain, at least I don’t know of them, but if we see the results of a study by Boston Consulting Group (done in 2022 on 150 companies from 15 different Asia Email List sectors), the conclusions are quite evident: Companies that stop investing in brand marketing: reduce their sales, lose market share and generate lower profits for their shareholders. Comparing the results of the companies that invested the most in branding, with those that invested the least, the results were: Sales growth: – 13%. Conversion rate from visit to sale: – 6%. Market share: – 0.8%. Increased costs: They must invest $1.85 for every $1.0 saved by not investing to recover the lost fee.
