Everest Business Funding Lists the Steps Small Businesses Should Take to Build a Strong Brand Identity
By Space Coast Daily // May 23, 2023
Small businesses are often limited by tight budgets and lack the ability to scale a brand identity like a larger company.
However, there are avenues a small business can take to evolve a one-of-a-kind and memorable brand personality that aids in delivering messaging target consumers can relate to and value. Everest Business Funding, an organization that offers alternative finance options to entrepreneurs and has helped many small businesses grow and scale brand exposure, utilizes this article to break down steps for smaller organizations to take to build a robust brand identity:
Step #1: Break down the brand’s purpose
When assigning a brand its identity, that means that you are giving your brand a bigger purpose to represent the business. A company’s purpose is found within its mission statement, so mission statements and the brand’s purpose go hand-in-hand and should proactively mirror one another. Breaking down a company’s mission and its foundational values can be helpful when identifying what the brand’s purpose will symbolize.
Step #2: Identify the target audience
A small business might develop a strong brand identity but still completely miss the mark even after all the development efforts if the right target audience is not identified. Organizations want their brand identity to resonate and reside with their consumers so that customers can feel connected, are more likely to become loyal returning clients and elevate revenue for a small business.
Step #3: Research competitor’s brand messaging
Small businesses should know who they are up against and learn from their competitor’s brand identity and messaging. Researching a competitor’s brand identity can help an organization better grasp how to remain unique and stand out in the market above others. Through marketing research, a business can also learn what messaging and strategies competitors used that were successful and vice versa to better understand the shared target audiences and how to reach them.
Step #4: Personify the brand
To create a brand’s identity, a small business needs to generate the brand’s personality. Just like developing a character in a story, a company wants to assign traits, tones, and visual features to its brand. This step of building a brand’s identity allows room to design the brand’s creative elements.
Step #5: Make the brand the center of the story
Owners of small businesses should reflect on how many big brands they know that are backed by a story. Think of McDonald’s, Ben & Jerry’s, or Walmart. Just about every successful big brand uses the brand story messaging to level up consumer engagement and relations. Smaller businesses can make the brand the center of the story by starting at the beginning and reflecting on the motivation behind creating the business, what significant lessons were learned along the way, and how the business’ services or products reflect the organization’s core values.
Step #6: Align customer experience with the brand’s promise
Brand identity can strengthen consumer loyalty and trust by aligning customer experience with the brand’s promise, which is ultimately a part of the brand’s identity. It’s crucial to maintain truth in messaging by aligning actions with words.
About Everest Business Funding
Everest Business Funding provides alternative finance options and revenue-based funding to small business owners. They serve a diverse pool of businesses, from healthcare to retail, to help them obtain working capital to grow, buy inventory, launch marketing campaigns, or hire staff. Everest Business Funding’s clients are treated with respect and receive high-quality guidance and service from its professionals.