Have you ever wondered why some small businesses never really work on their brand name? Ever wondered why the hardware store downtown never changes its corny store name to something that is catchier? On the other hand, how come we see so many big businesses like corporations or franchise businesses putting so much effort in pumping up their brand image by employing different kinds of marketing and advertising campaigns? Why do big businesses spend more on their corporate identity as compared to smaller businesses?
The Risk Factor
Well, the answer simply lies in how much risk these two types of businesses face. For small businesses, the risks are actually smaller because the operating costs are significantly less. Let’s take a small bookstore for example. Most of the main costs are the operating costs, which usually include the cost of using the cash register, utilities, rent, and purchasing costs. In order for your small bookstore to flourish, all you need is a good location and a decent marketing effort to lure people to your store. If you sell schoolbooks, then putting your store right in front of a school will typically seal the deal.
However, if you want to expand and create many branches of your bookstore, then that is a different story. If you want people to recognize your bookstore as more than merely a bookstore, but more as a widely recognized place where they can satisfy all their reading needs, then you have to make sure that it has a remarkable and well-established brand. Often, perception is far more important than actual presence. So while you may have a small setup, you can still appear larger than life through the right branding strategy.
Strong Logo Design
The brand is more than just a name. The brand is the identity of the store, and it is what makes the store famous among people. Why do you need to be famous among people? To simply put it, the more famous you are, then the more customers you will have. As long as you have a lot of customers, you can sustain your expansion. For this reason, companies pay so much for a good company logo design and good branding strategies. If a company has high brand awareness and has a good reputation among people, then it will enjoy many loyal customers.
A good company logo design will help people identify the company and remember the brand. Also, a good branding strategy will make the company solidify its client base. These two are among the few essential elements that help a company establish a good corporate identity. Whether you’re a large or small business, make sure that you carefully think through your branding strategy and implement it across all platforms to send out a cohesive and uniform message to your customers. If you don’t think you can designate the time and resources to this, you can always hire a professional branding, logo and web design company to do the work for you.