There has never been a better time to be marketing a small brand. The American public increasingly sees large companies who own large brands in a negative light. Large companies are seen as reaping healthy profits while cutting back on employee benefits and laying off workers, paying top executives outrageous salaries, and raising prices while customer service languishes.
Large brands still have a lot of brand equity in their name, so brand name products are still popular. But store brands have lost their inferior image. Recent studies suggest that these private label products are gaining traction. That means consumers are more receptive to "no name" products that retain the quality and value of brand names.
A small company can take advantage of this current business environment in 2013. For example, a small company can:
- Emphasize individual attention from the principal of the business
- Offer outstanding personalized customer service, particularly by providing local call support to compete with the off-shore call centers used by large companies
- Serve a narrow niche a large company can't afford to service with specialized products that a large company can't afford to make
- Make product and service guarantees that a large company can't match.
In terms of brand image, a small company can look solid, established and credible by having a professionally designed, well written website. Using online marketing effectively -- including the web, email, video, and social media -- levels the playing field and allows small brands to compete effectively with large brands.
Because small companies produce lower quantities of a product, a small brand can afford to create unique packaging that differentiates it from a large brand. Small brands may find it easier to obtain and use customer testimonials, too; customers like to support small brands , and small companies have a more streamlined legal process than big companies in gaining approval to use testimonials.
These are just some of the benefits of being small. Use them to your advantage to win in 2013!
For more insights, check out the on-demand online course by branding expert Barry Silverstein, Big Brand Strategies for Small Brands.
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