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How Can Branding Help the SMEs in India?

By Sthitaprajnya Panigrahi

Whether a big corporate enterprise or SMEs, every company is aware of the importance of the brand building. The purpose of branding is not only limited to creating a unique recognition in the market but company branding can drive the overall business growth. Apart from that, the advantages of branding is also visible in sectors such as marketing, increase in customers, enhancement of productivity and boost in revenue generation. Earlier when branding was only for the big corporate enterprises most of the small companies were focused only on boosting their productivity. However, inspired by the ‘Make in India’ campaign as the SME sector started to grow significantly in the country, branding for small businesses also draw the attention of many businessmen. They started seeking business branding ideas, which will ultimately benefit in escalating their business.

This article focuses on highlighting the branding tips as well as the importance of branding for SMEs, which are mentioned below:

  1. Create A Logo: Logo is the face of any business and gives it a unique identity. It will reach out to the customers representing the name and authenticity of the company. With minimum information and a distinctive image, a logo can convey more than just words and sentences. With many competitors in the market with similar products and services, the logo will make the company stand out among them with its distinctive recognition in the market.
  2. Website Development: Digital India is the new India and almost every individual browses the internet for hours. Businesses can easily create a website to reach out to the targeted customer and highlight the products and services of the company. As people will get to know about the vision and mission of the company, they will search for the company online which will generate huge traffic on the website. Boosting the business significantly, creating a website is affordable with minimum expenses but maximum benefit creating brand recognition.
  3. Renovate Marketing Strategy: For SMEs, affording the proper resources might be an issue according to the budget. However, the marketing strategies need to be renovated with smaller yet substantial targets that can be achieved within the particular time frame. The targets can be as simple as increasing the number of customers, generating more traffic on the website, new ways of advertisement, the introduction of new products, implementation of new ideas and the list goes on. With a restricted budget, these small tasks can be achieved one by one by incorporating an appropriate marketing strategy.
  4. Rely on Customer Feedbacks: Feedback of customers plays an important role in maintaining the stability of a company’s brand out in the market. By going through the feedback received from the customers, you can not only the reception of the product in the market but can also know the features you need to improve to get more productivity. Ask for their views and suggestions to improve your products and services. This will help the company to create a unique identity as well as a long term relationship among the customers.
  5. Explore All Opportunities: While creating a brand name for the company, make sure you have got the right resources as well as a proficient team to help you in branding. Attract the right talent for you and gain their confidence by improving their career as well as your brand name. As an SME the focus should always on geographical expansion. Branding can help in gaining recognition throughout the world if the services and products of the companies are up to the standard.

 

 

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