Small & Medium Enterprises (SMEs) are prime players in any economy and its progress in a big way. Yet, many of these enterprises often abstain from brand building exercises. Industry experts attribute this absence to lack in infrastructure, capital, management, among other things. Often, SMEs are found busy in making products rather than branding or marketing them to their consumers which could often push them back in the competitive market.
Creating an identity
Branding prepares an exclusive identity for an SME and prepares it for competition in adverse marketing situations and also cements a strong connection with their customers. One needs to understand that potential customers recognize brands through a variety of media including visual communication (logos, colors, imagery, etc.), communications (websites, brochures, sales representatives, etc.), and behavior (relationships with customers, partners, employees, government, society, etc.). Also, in case of SMEs, branding could very well refer to their specific products and services which need to adhere to certain levels of quality. Brand refers to the way the customer knows the company and its business. Within the company also, interactive workshops and training sessions need to be conducted to apprise them about the brand.
It helps the customer in differentiating its services and makes the SME exclusive in its audience. It also supports the organization in generating a positive image and also contributes to the healthy growth of an organization. It also helps SME in connecting with future clients and build future associations. They also play a vital role in consumer decision making process as loyal customers often stick to their preferred brands.
Using technology to our benefit
Modern technology also offers SMEs a wide variety of choices to boost their customer base by brand building across various media. SMEs can organize a wide group of people to perform their special tasks related to branding and marketing which were earlier performed by specific individuals. The process termed as crowd sourcing is gaining popularity and is preferred choice for many brand marketers.
Creating an identity
Branding prepares an exclusive identity for an SME and prepares it for competition in adverse marketing situations and also cements a strong connection with their customers. One needs to understand that potential customers recognize brands through a variety of media including visual communication (logos, colors, imagery, etc.), communications (websites, brochures, sales representatives, etc.), and behavior (relationships with customers, partners, employees, government, society, etc.). Also, in case of SMEs, branding could very well refer to their specific products and services which need to adhere to certain levels of quality. Brand refers to the way the customer knows the company and its business. Within the company also, interactive workshops and training sessions need to be conducted to apprise them about the brand.
It helps the customer in differentiating its services and makes the SME exclusive in its audience. It also supports the organization in generating a positive image and also contributes to the healthy growth of an organization. It also helps SME in connecting with future clients and build future associations. They also play a vital role in consumer decision making process as loyal customers often stick to their preferred brands.
Using technology to our benefit
Modern technology also offers SMEs a wide variety of choices to boost their customer base by brand building across various media. SMEs can organize a wide group of people to perform their special tasks related to branding and marketing which were earlier performed by specific individuals. The process termed as crowd sourcing is gaining popularity and is preferred choice for many brand marketers.
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| While crowd sourcing is beneficial, it's important to do it right |
With social media on the rise, brand building exercises have to be more intensive and planned in their execution. Once the branding is achieved, SME can benefit from its goodwill. With their limited resources and limited budget, 'crowd sourcing' can be a viable solution for many companies.
Crowd sourcing campaigns need to be planned carefully or it can prove to be a big disaster for the company. One needs to be precise in their brief because once the information is transferred, it travels to further customers in the way it was published before. There is no room for errors. SME should also be open to offer incentives to the customers who may be attracted to a particular company because of the prizes offered. The customer also needs to be assured that he is not overwhelmed with company’s promotion drive which may also result in a negative impact.
Crowd sourcing campaigns need to be planned carefully or it can prove to be a big disaster for the company. One needs to be precise in their brief because once the information is transferred, it travels to further customers in the way it was published before. There is no room for errors. SME should also be open to offer incentives to the customers who may be attracted to a particular company because of the prizes offered. The customer also needs to be assured that he is not overwhelmed with company’s promotion drive which may also result in a negative impact.
Crowd sourcing offers innumerable ways of promotion and one needs to be precise in their choice. Even though it involves a wide range of consumers but the process needs to be treated in a professional manner.
