Small businesses generally have to operate on a small budget as well. Those that are just getting started usually have to be very conservative with their spending. Just because advertising and marketing is tax deductible doesn’t mean that they have the money to spend on it right now. A logo design is a big step for a small business, but it is also a necessary step. A small business must establish itself in the marketplace and to do that they must have a small business logo.

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Columbia University in New York is the second-ranked school of business in the U.S. Professor of Marketing, Dr. Don Sexton, offers refreshing insights into the value of branding. The refreshing part is the measurability of brand value! That is always the marketer’s/advertiser’s lament: “I know about half of my budget is wasted! I just don’t know which half!”

Dr. Sexton has a number of intriguing observations about the merits and measurability of branding – not the least of which is the characterization of the equity in your brand to be an asset just like any other asset. I found this to be particularly courageous. Few experts want to come right out and quantify the results you can expect to get from your branding effort. According to Sexton,

“Estimated company brand equity values include $69.0 billion for General Electric, $53.3 billion for Microsoft, $42.1 billion for Toyota and $36.6 billion for Johnson & Johnson.”

I hope you are noticing all those ‘b’ words! If these kinds of heady figures surprise you, you need to continue to learn more about the whys and wherefores of branding! (Although, I was surprised to learn that Microsoft is No. 2, until I realized that G.E. is No. 1, of course!)

Over the years, I’ve named companies, magazines, campaigns and events. Love it! In the pursuit of my fascination, I find I learn a great deal from case studies of legendary logos. Here’s one fantastic example from academia. Studying the stories of diverse successful logos always sets Logo Design Works in my creative tail end.

My definition of a “successful” logo is one that has built up untold millions/billions of dollars in recognition equity and worldwide familiarity. All have a great story to tell when you learn about how they originated, how they resisted artibrary change along the way to maintain continuity, if they are modernized and how… all these things can teach valuable strategic lessons to the business owner.

When starting a business, will you imitate the leading brand or do things your own way? While the latter is the typical answer, Marty Nemko of Kplinger.com says it’s better to replicate than innovate:

Being a guinea pig is so risky: Your idea or its execution could easily be flawed, or it can be so new that the public isn’t ready for it. Tivo, an unquestionable improvement over the VCR, lost hundreds of millions of dollars in its first five years as it tried to educate the public. You probably don’t have hundreds of millions of dollars and five years to wait for profitability.

Although our main goal is to differentiate our brand from competition, some situations justify the need for imitation:

1. Benchmarking or adopting best practices from another industry
2. When a particular feature, process, or service is considered a standard in your chosen industry. If these are not available then your business will not be considered at par with the leading players.

However, there are certain limits to imitation such as:

1. Using a confusingly similar brand name, logo design or colors.
2. Copying the content from your competitors’ websites, brochures, sales letters, and other marketing materials.

Some entrepreneurs are guilty of extendingtheir established brands without a well-supported justification or totally based on gut feel. Maybe it’s the notion that it’s very easy to piggyback on the success of one brand than to start from scratch.

However, a wrong brand extension can do more harm than good in the overall performance of your business. In many situations, it can confuse or even alienate your existing customers. To make matters worse, it can drain your marketing budget. Before going for a brand extension, ask yourself these important questions:

1. What’s the added value of this line extension to my parent brand, both short-term and long-term?
2. In what way will it strengthen my parent brand?
3. How will my current customers react to this plan?
4. Am I addressing an unmet need different from what my parent brand is serving?
5. Is the parent strongly associated with a particular product category or do I have the flexibility to enter in an entirely different category?

If you have clearcut answers to these questions then you can go ahead with your brand extension. Otherwise, take time to reconsider your options and come up with a better plan.

Many of us are familiar with promotional items. These are free stuffs like pens or shirts bearing a company logo given to consumers or business partners. Some entrepreneurs don’t believe it is effective but a recent study (pdf file) conducted by Promotional Products Association International shows the positive impact of promo products to brand and company image:

Promotional Products have a positive impact on brand image. Specifically, when comparing people who receive a promotional product from a company with others who do not, this research shows that people who receive a promotional product have a significantly more positive opinion about a business through more positive overall image, more positive perception of the business, higher likelihood of recommending the business, and higher likelihood of patronization

Before you employ this method in your business, you should know the reasons behind your giveaways. Is it to increase sales, encourage trials, build brand or company identity, or generate new leads?

This important question will lead you to the right direction and right approach towards your customers. Otherwise, it would result to a complete failure, similar to what happened to Pontiac/Oprah giveaway 2 years ago.

You’re probably wondering what promo items are best for your business. It would greatly help if there is a strong connection between your brand and promo items. Knowledge of your target market will play a large part in this tactic.

For instance, your business is connected with helping other people earn money online. You should give away free information products like e-books or videos on different tips to increase traffic or improve conversion.

Would it be nice if we can promote our business and contribute to the society at the same time? Cause marketing is a not a new concept but many entrepreneurs have a misconception that this is only applicable to big companies.

They say a good deed is often rewarded. In the case of cause marketing, it can boost your company image and make your customers feel better about themselves. According to a new research,

The perception that a company is doing good raised the premium consumers are willing to pay for a brand by an average of 6.1 percent.

Among survey respondents, 70 percent said purchasing products from companies that support causes makes them feel they are being socially responsible. Fifty-three percent said the connection makes them feel like a part of something beyond the scope of their own lives.

In case you are interested to integrate this approach in your small business, here are some things you should consider:

1. It needs passion and commitment. This step can be very risky if you simply want to increase your revenues. Choose a charity that is close to your heart and take time to know more about this group before you implement this strategy.
2. Deal with the right charitable group. You should also check the credibility of your chosen institution. Unfortunately, there are numerous swindlers who use charity as their front. Also, make sure the organizers are equally willing to promote your company as well.

Do you think having a company uniform is important to your small business or that it’s just for the corporate guys? If you are one of those entrepreneurs who don’t bother much about this matter because there are other more important issues to deal with, you might be losing a good branding opportunity.

A company uniform bearing your logo can transform your employees into walking and talking advertisements. A good example here is FedEx’s classic-casual and very functional uniform that is consistent throughout the world. If you plan to have a company uniform, here’s what you need to learn:

1. Your uniform must be consistent with your company identity. If your business is known for its classy appeal, your uniform should also be elegant.
2. It must be functional and comfortable. Uniforms should not hinder your employees from doing their work. Partner with your employees in designing your uniform.
3. Remember there are 4 seasons. Don’t make the mistake of using just one type of uniform all year round. Learn how to adapt to the changing climate.

Also, if want to know how courteous treatment will make a customer a walking advertisement, you should pay a visit to YoungEntrepreneur.

Blurbs, client testimonials, and quotes are a great way to promote yourself or your book as you let the clients and readers do the talking. No worries about sounding like a braggart. But there are good, bad, and tricky testimonials.

“This is a great book!”

“Joe did an excellent job on the project!”

Do these tell you anything? These are empty and generic quotes. Here’s one that’s an example of a tricky testimonial, but you wouldn’t know it:

“Jane is very reliable.”

This tells part of the story. The rest of the story… “Jane is very reliable in arriving late for work every day.” Makes it easy for someone who didn’t like the person’s work to avoid saying something bad. But in most cases, the employee wouldn’t use such a person as a referral.

When reading book reviews in Amazon or elsewhere, you can tell which ones might be friends of the author’s. They’re short and empty. They tell you nothing about the book. It’s better not to have a testimonial than one like this. What if a big name wrote this kind of blurb? The blurb is useless in terms of convincing you to buy the book, but the author’s association with the person could convince some people to buy it (that old “It’s who you know.”).

When asking for a testimonial after the person agreed to supply one, ask the person to answer this results-oriented question and the testimonial will more likely be valuable.

“What has [product or service] helped you achieve?”

Or, if it’s too soon to know the answer to this, ask for a testimonial about the process of working with the company. How well they did in meeting deadlines, how well they did meeting requirements, and so on.

You can make your testimonials more credible if you include one that’s not positive. Why would you want to include that? It shows you’re honest and human. But why would we want to show our weaknesses? Everyone has weak areas and we might as well as be up front about them and earn credibility points.

About the author

Meryl K. Evans is the Content Maven behind meryl.net, helping companies build relationships with clients and prospects through content.

Despite the technological advances in terms of business networking, the use of business cards remains relevant until now. Aside from being practical, compact, and easy to carry, it is also loaded with important info about you and your company. You can check out samples of our business cards as a reference. Here are some tips to help you maximize the use of your business cards:

1. Always bring your business card. Some entrepreneurs leave their business cards at their office or don’t carry one if they don’t have any meetings or conferences. Try to keep at least 10 cards within your reach because you never know when you’ll meet new prospects, alternate suppliers, or other entrepreneurs. Also, don’t wait for your card to run out before ordering another batch.
2. Attach your business card in every communication. Even if you are not meeting other people, you can still share your business card by attaching it with your thank-you cards, correspondences, holiday greetings, project quotations, and newsletters. You can also leave it at the restaurants, hotels, and other business establishments.
3. Write something. A number of business cards end up in trash cans for many reasons. You can minimize this by writing something on your card such as your alternate e-mail address or mobile number. This will add some personal touch in your business card.