Building a loyal customer base for Micro Small and Medium Enterprises
As the digital world augments connectivity and the world of communication, skepticism among consumers is accelerating simultaneously due to misuse of accessibility. In such a conundrum, MSMEs (Micro Small and Medium Enterprises)fail to get their foothold in the market to gain customer loyalty. Branding can be the anchor that MSMEs need to drop in the bay to stand through the storm of an immensely ruthless market.
In this blog, along with discussing how MSMEs can gain loyal consumers, we address the common concerns MSMEs usually have around branding.
Vision and Mission- The core of brand building
The purpose of having a vision and a mission is not to put on a show. When left undefined, growing as a MSME will be a wild goose chase that will cause nothing other than a headache.
Vision is what you seek at the end of the tunnel. It includes your aspirations for the future. On the other hand, mission defines the objectives you wish to accomplish in pursuit of your vision. Add to this the chosen approach toward fulfilling business aspirations.
The following example can explain the difference between vision and mission more clearly.
Our vision at the outset is to become a leading public relations agency and to make the field of public relations more accessible to all businesses, regardless of size.
Our mission is to provide top-quality public relations services with culture and data as our driving factors to protect and promote our clients. We aim to deliver the best results by using every trick in our book while keeping our integrity intact.
Notice how vision and mission are in coherence with each other, yet quite different?
Clarity in these arenas of business brings consistency to the public communication, aspect of your Micro Small and Medium Enterprise which is rudimentary to branding. It also becomes easier to decide the kind of information you would want to disseminate in the public domain to mould people’s perceptions of yourself.
Importance of localization- Using the power of culture and language
As a business that wants to establish its presence in people’s minds to drive their decision making, you must be able to become part of their identity. This is possible through branding with culture as its foundation. Culture here refers to the culture of your target audience. Understanding the role of culture and geography in identity formation can grant you several insights into your consumers’ needs, wants, and problems. As a result, your brand image building campaigns will have more relevance for Micro Small and Medium Enterprises.
Lastly, you need to realize the power of vernacular in establishing a connection with your audience. Not only will you be understood better, but you will be able to form a brand identity that consumers are attached to.`
Strategic brand positioning
Brand positioning is foundational to gaining the trust of customers. Driven by the goal to create an unbreakable connection between the brand and consumers, brand positioning lets Micro Small and Medium Enterprises target audience distinguish your products and services from others.
Though it targets a very specific audience, it influences the perception of your brand for the whole population. When done strategically, it can bring a huge return on investment. For instance, Ferrari. The automobile giant has successfully positioned itself as a brand of the elite. Thus, even though it caters to only a fraction of the population, it manages to make hefty profits every year.
Experienced PR professionals are quick to identify the target market and its defining characteristics in order to position their client’s brand strategically. No wonder why every brand pay attention to public relations and communication.
Frequently asked questions
[saswp_tiny_multiple_faq headline-0=”h5″ question-0=”Is branding only for big companies?” answer-0=”While you cannot magically become a brand as famous as Coke, Apple, Microsoft, etc., it is essential to remember that every brand started from nothing. Rome wasn’t built in a day by chanting a magical spell. It took years to establish the glorious empire that we study in textbooks today. Its first brick must have been laid down at some point. Brand building is similar to building an empire in this sense. While you never know how long it will take to establish your territory, you must begin at some point.” image-0=”” count=”1″ html=”true”]
[saswp_tiny_multiple_faq headline-0=”h5″ question-0=”How branding is important in small businesses?” answer-0=”A brand is simply the perception that people have of your business. It entails the ideas and values that are associated with the company’s products and services. Thus, not having a brand image is impossible. If you don’t actively reach out to shape your image, others will. Remember, being a nobody in the market is also a brand. When you have the power to bring the ball into your court, wouldn’t it be wise to go for it? Remember, every big business started small. Additionally, lack of capital and technical support are two main reasons for the collapse of MSMEs. Branding can provide MSMEs with the deserved attention of potential investors and venture capitalists who can rescue them from the state of crisis.” image-0=”
” headline-1=”h5″ question-1=”How SMEs build their brand?” answer-1=”Branding is at the heart of public relations and marketing services. It encompasses several business management aspects such as marketing positioning, equity, customer trust, user experience, etc. While there is no one way to go about branding and you are free to choose whatever works best for your niche, consistency and ease of access are the rudimentary building blocks of successful branding. In order to create your brand name, you need to streamline your public communication in such a way that your brand colour and values are deeply imprinted in the minds of your customers. This can only be achieved when you continuously disseminate relevant brand messages by integrating simplicity and accessibility.” image-1=”” count=”2″ html=”true”]
Conclusion
Branding has been put on the back burner by MSMEs for a long time. However, that behaviour is not going to fly in today’s day and age. No company is too small for branding, and one needs to put up a fight to garner trust and credibility in the market. To avoid going over like a lead balloon, Micro Small and Medium Enterprises must consider investing in brand building.
Effective branding through public relations holds the key to success. A professional public relations agency devises a communication strategy that builds trust and an emotional connection with your target audience through the successful integration of data—emotional and rational—as well as localization. You can check out our other blogs to learn more about branding and PR.
