Marketing

Entrepreneur 101: The Name of the Game is Branding

You have decided to start a business. Assessing risk, allocating capital, defining your organization strategy and combatting competition are all major considerations. But, like any enterprise, first impressions are the most important. It starts with a name.

Couples spend months or even years debating the names of their children, and your business deserves equal thought. Your name is your brand. And as such, it should portray quality, reliability and confidence. It should both differentiate your business and promote good will. The health of your business depends on it. In a world of commoditized services and goods, a questionable name may lead to a negative public perception, which can impact bottom line performance.

Suppose you have trucks and signage to support your product distribution. Each message is a potential advertisement to the public and ultimately a powerful outreach opportunity to your customer. You should not let any chance to brand quality be underutilized.

Case Study

Presented for discussion is a very valuable and curious branding case known as Sal Mennella's Poultry from the 90s. Yes, that name wasn't a typo. Attractive trucks affixed with a professionally decaled chicken outline traveled about the boroughs of New York boasting of quality. There was clearly pride in the business but the name seemed fundamentally opposite to the representation of quality for poultry, specifically a bacterial infection we all know as Salmonella.

Does the suggestion of bacteria that makes people sick garner confidence here? Perhaps just calling the business Sal's Poultry would have been both a valuable and personalized brand associated with a family business.

Let's look at some branding examples that drive home the point immediately. Insurance companies, for one, intend to exude confidence and financial strength. They are there for the long term and have the ability to pay claims when you need them. Nationwide and Prudential are leading companies that brand confidence just from their names.

Of course not everyone is starting a national brand at this time, but one day your enterprise may become one. It is important to always think big! For small businesses, personalization is helpful in branding your venture along with immediately identifying the type of product or service that you are providing. For example, David's Cookies, the king of the Chocolate Chunk cookie, started out with one location in NYC and then grew to more than 225 on a worldwide basis. An amazing feat given the competition in the baking field, but the name both distinguished the product and provided a competitive edge.

So what happened to Sal Mennella's Poultry? A Google search didn't provide an exact match but it offered a result for "Mennella's Poultry" in New Jersey that was established in 1944. Maybe the CEO got the hint and changed the name.

Want more? Here are some great tips on how to name your business.

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How Content Marketing Can Improve Your Business

Every business owner strives to market their business in the best ways they know how. From the tried and true to the latest trends, no matter the avenue, most savvy business owners are willing to test out a new marketing tactic to improve their business.

Content marketing isn't exactly new, but many businesses haven't yet given it a go. Traditionalists or those unfamiliar with how content marketing can boost business may not realize the benefits of this industrious type of marketing. But what is it exactly?

By definition, Content Marketing Institute describes content marketing as, "a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience — and, ultimately, to drive profitable customer action." Therefore, "Instead of pitching your products or services, you are providing truly relevant and useful content to your prospects and customers to help them solve their issues." Advantageous for both the business and the consumer. Seems like a winning solution!

As per Vertical Measures, 61% of customers are more likely to buy from a company which publishes custom content. Here's a look into some of the effective ways content marketing can work for you…

Get and Stay on the Radar

There are many companies to choose from in nearly any field. Content marketing can help make your company stand out from the pack. Simply placing your products or services on your website with descriptions and pricing isn't enough to make you memorable anymore. You need to be unique, interesting, and engaging. Content marketing is a favorable way to do just that.

As per YFS Magazine, "Every company has a niche. Talk about that niche, and your business can stay relevant. Consistently provide interesting content. Maintaining a company blog is one of the most common and simplest means of content marketing. However, you can go further and boost authority by publishing an industry newsletter or magazine." Create awareness and gain new clients and customers who are seeking more from a business than a quick transaction.

As Vertical Measures puts it, "Content marketing has been called the "new branding" as it consistently reaches your potential and current clients and reinforces that promise." Show your customers what you have to offer - and that's more than a product or service. It's who you are and what you value as a business owner, which is far more memorable in the long-term.

Build Trust

According to Vertical Measures, "If you publish frequently, your content will build trust not only with your potential clients but also with the search engines. Search engines want to deliver the very best content possible to the audience using their engine." According to Content Marketing Institute, "Search engines reward businesses that publish quality, consistent content." In turn, the customers will find you and look into using your business for their needs. They want who's on top of their game, and content marketing done well will put you there.

Customer trust is something businesses have always valued, and SEO and ranking in search engines is the modern way people find businesses they deem trustworthy and the one to ultimately choose. "This translates into increased traffic, which can lead to more people linking to your websites; creating a positive feedback loop where people will remain interested in your business as long as you continue to create value," notes YFS Magazine.

The more content you provide, the more educated and involved your clients and customers become. Make sure your content is not only sales-focused, but relevant to an array of aspects of your field and helpful to your readers even if they're not making a purchase at the time. This shows that you are invested in their well-being beyond the sale. Knowing you have their interests at heart will have them returning to you the next time they need your product or service. As per Vertical Measures, "A well-educated client is a better, more long-lasting client. In order to build customer loyalty, provide additional value through your content long after the sale is done."

Keep at It

As per Content Marketing Institute, "Content marketing increases sales and brings better customers who are loyal to your brand." Be sure to regularly update content on your website and social media feeds. Send emails with not only salesy information, but benevolent information and updates as well to keep your customers engaged and informed. Keep on target with your company's values and morals and use a tone that reflects your businesses "personality."

See what consumers are reading and hone in on that type of content. See what people are "liking" and "sharing" and give them more of what they enjoy. If you link out to calls to action in your content, make it relevant and natural to the subject matter. You'll find that customers will appreciate honesty and integrity.

Now it's time to boost that content and get it out there! If you need help getting started, check out Content Marketing Institute's guide to developing content for marketing.

Extra, extra… read all about YOUR business!

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3 Tips to Get Buzz Around Your Small Business

When you're just starting out with a small business that's on the brink of getting attention from the public eye, creating that special "buzz" is what will make your business stand out from the pack.

So many new businesses, particularly small ones pop up every year, and even with lots of hard work, many sadly fail. Part of the reason these businesses don't make it as far as they could have is due to a lack of awareness from clients, customers, and consumers. If they've never heard about your business, how will they ever know to choose it when it comes time for their need for the products or services you provide?

Generating and maintaining a buzz is imperative to getting your small business to get to the next step. The quote from that famous baseball movie, "If you build it, they will come," is only part of the process. Having a great small business that's virtually unknown may be a nice project for you, but don't you want to hit it out of the ballpark? These tips will help you create that important buzz your business needs for success.

Unique Marketing Angle

You surely know you'll need to put some budget into marketing, from email to direct mail to ads and even TV commercials. Every small business is unique in some way, even if there are other companies in the same field, so use that "certain something" your business has in order to market most effectively.

As per Forbes, your business needs a "creative marketing hook." This could be in the form of a "short phrase that conveys your unique value proposition, a catchy jingle, an important benefit, or a 'slant' or angle of your business that gets people talking." Be sure your "hook" truly conveys what your business offers and isn't just an empty promise. Not much turns away a customer more than disappointment.

Grasshopper adds, "Differentiate yourself. Make funny fliers or tell stories that set you apart."

Once your unique angle is established, you'll be easily remembered and find customers coming back time and time again. And these are the very people who will recommend your business to family and friends.


Online Giveaways and Promos

Use social media to your advantage. While you are creating your online presence, use the various social media platforms to create buzz by doing regular contests and giveaways and sales or deals for social media followers only. You'll gain popularity far more quickly and keep people coming back to your social media pages to check for these benefits regularly.

As Hubspot notes, "From Twitter to LinkedIn to Facebook and more, investing in social media can take time. But it's free and can quickly create the kind of momentum you're looking for in the early stages."

Additionally, once you gain customers, give them the thanks they deserve with a percentage off the next time they shop, or a special deal if they refer a new customer. It will cost you very little to offer these markdowns, but it will mean a lot in the minds of customers who had the chance to go elsewhere.

Network with Movers and Shakers

Part of being a small business owner is wearing lots of hats. This means you won't likely have a marketing or sales team to do initial networking for you as you're starting out.

As per Grasshopper, "Go to networking events, startup meetups, co-working spaces, and other industry events to try to get your name out. Talk, talk, talk, until you're ready to drop." The more you put your name out there, the better chance for a hit. Plus, you'll learn more about the business from the people already doing well in the field.

Forbes adds, "Connecting with influencers in your niche can help by lending you credibility. Find ways to connect and engage with influencers online. Share and retweet their content, or reach out to them via email. You never know where these types of connections can lead; and the potential to get a link or mention from a well-known industry expert makes your efforts worthwhile."

By placing yourself among those in your industry, you may find people interested in joining your efforts and even those who are willing to back you financially if they see a diamond in the rough. Hubspot notes, "Their qualified feedback might help improve your startup's offerings, and those relationships will cultivate your startup's success."

Keep at it and never let the buzz die down. That initial push is crucial, but keeping the momentum alive every day is the key to a successful life for your small business.

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