MSMEs are growing at an unprecedented rate. In 2021 alone, micro small and medium enterprises (MSMEs) in India contributed nearly 8% of the total GDP. 45% of manufacturing output and 40% of the country’s exports. They can arguably be called the “backbone of the corporate economy.” However, while a vast reservoir of opportunities lies out there for MSMEs, it is also true that 96% of MSMEs have closed in the last 3 years, according to available data. Can Branding methods and Techniques help MSMEs? Read further to learn.
The road to salvation – branding
Branding is the need of the hour. With a lack of technology, capital expertise, and talent being the top culprits of failure, branding has the potential to grab the attention of prospects, venture capitalists, and other major stakeholders. Branding transcends the general view of marketing, contrary to general marketing. It is the first interaction a person has with your business. Branding methods and Techniques can be considered a medium to shape your brand in the minds of consumers.
Brand building is rigorous and involves consistent handling of the media’s attention. Naturally, the process might seem like a daunting task, as being in the spotlight brings responsibility and demands discipline. And when most micro small and medium enterprises believe investing in branding is useless for them, it becomes harder for them to reach their full potential.
It’s never too late to start building your brand, and the easiest way to do so is to hire a PR firm. A robust PR strategy can have a significant impact on your business and ultimately secure your spot in the MSME industry. Here are some tried and tested Branding methods and Techniques that our PR professionals in Delhi have used for micro small and medium Enterprises.
Creating curiosity with brand awareness
By carefully planning and implementing a PR strategy, it is very easy to create curiosity in the mind of the consumer. This will get them to notice the brand and the services it provides. The simplest form of advertisement is word-of-mouth brand awareness, achieved through creating a positive brand perception.
Helps in building brand credibility
Credibility is a challenging quality to achieve, and can only be achieved if customers know and trust your products. Public relations is a simple and transparent technique that ensures brands stay clear of any misrepresentations. PR helps the brand build credibility through media opportunities that target the right population, including potential investors.
Gain attention of investors through thought leadership
PR is the bridge of communication between the brand and its audience. As a result of the PR audio, they get to know the spokesperson for the brand, which gives an impression of well-thought-out leadership. This can also sometimes help grab the attention of potential investors.
Gaining customer loyalty through effective positioning
Establishing a strong brand image through consistent PR across different media platforms can easily lead to brand loyalty. Examples include upcoming product launches, constant spokesperson outreach, and establishing partnerships and collaborations. All these activities contribute to enhanced brand loyalty.
PR Establishes Relationships
The campaign’s activities always make sure to have positive two–way communication with its audience, different media outlets, and stakeholders. A brand should be able to communicate the intention behind every step taken.
Are PR Firm Services worth it for an MSME?
MSMEs business owners may think all of this is a huge task, but instead of sweating and keeping your brain continuously occupied with how to do all of this for your brand, you can easily leave this task to a PR agency that will do it painlessly for you. Hiring a PR agency is very easy and business owners can hire one by navigating through a few simple steps
It is essential to hire a PR firm when you are building a brand, especially as an MSME, as it will ease your work and maximize profitability. Working in silence and in the dark will accomplish nothing in today’s cut-throat market competition. Moreover, according to a report, as the post-pandemic world shifts online, five out of ten micro small and Medium ENterprises in India are adopting digital channels such as online aggregators, marketplaces, social media, and mobile marketing, up from three out of ten before the pandemic. MSMEs must thus discover inventive strategies to prosper in such a circumstance by improving their communication abilities. ‘
Availing of PR Firm services is no doubt beneficial in this case. You never know when a crisp message may attract consumers and even the attention of investors.
How to find the right PR agency
Not all public relations consulting firms are the same. They often have a few specialties—industries or activities in which they have the most experience—so it is critical to inquire about the experience of the PR agency you intend to hire. At first glance, it may appear that more is better, but this depends entirely on your company’s goals and its industry’s standards. Here are a few tips to help you find your ideal agency
Set your objectives
It is crucial that you thoroughly consider your brand’s goals before hiring a PR agency to ensure they are attainable, specific, and time-bound. By setting your objectives, you can easily relay, return, and get a well-structured plan for your brand. Moreover, clarity on your end will only speed up the process of getting started.
Set a budget.
Not setting a budget for your business plan before approaching public relations consulting firms is like running a horse without a lead and can be very dangerous. Before hiring a PR firm, you should create a budget based on your goals, hidden costs, and priorities.
Research agencies around you
Many PR agencies are out there claiming to provide the best services, but not every PR agency’s branding methods and techniques are tailored to match your goals and budget. Check out the websites of PR agencies and list out the best PR services you find suitable for your goals. Make sure that you research as many agencies as possible by looking at their business pages, social media accounts, or client profiles, as it will help you figure out what kind of work they have done and what you can expect. You can shortlist them accordingly.
List of questions to ask the agency
Here is a list of some questions you can ask your shortlisted public relations consulting firms as an MSME. However, make sure that you have communicated your end goals in advance.
- What are the branding methods and techniques you have in your bag?
- What is the cost of your services?
- What kind of clients have you dealt with in the past and for how long?
- What are your core strengths in the industry?
- What will be deliverables in every quarter or month?
- How will we measure the success of the PR campaign?
Once all of this has been accomplished and you are satisfied with the answers of an agency, you can proceed to create a well thought mandate that includes the most suitable Branding methods and Techniques for your MSME and hire the PR firm for a fruitful partnership. Make sure you stay in constant communication with them regarding your steps toward your desired goals to keep track of the work.
In conclusion
Creating a brand image takes time, effort, and skills. Nonetheless, if done correctly, it is worth the investment. In addition, when it comes to PR budget allocations, it depends on the type of public relations campaign you’re planning. Your goals, audience, and choices should be very clear and crisp if you want your plans to succeed.
