When you spend money on advertising, you typically hope to drive sales in the process. Yet, there are other reasons why you might spend advertising dollars.
Company or Business branding can be an effective long-term strategy. You see, when you brand your business or yourself as the expert in your field, you can gain credibility and customers.
Do you have a special business skill that you can brand? Does your company have a certain service or product that is unique? If so, it can promote your business by promoting your brand.
Your brand can be your unique business offering. By branding your company, you are doing more than simply advertising. You are reaching out to the consumer and offering them something to remember. You may write an article in the local newspaper offering some knowledge on your business subject. This can brand you and your business as the experts in your area. You may offer a free seminar to the public where you review certain ideas and issues in your business.
You want to make sure you offer value to the article reader or, in the case of a free seminar, your guest. You do not want to sell them, you want to inform them and offer some valuable information and answer questions.
Also, depending on your budget, the cost for branding can be small. If you offer a free seminar to your customers and open to the public, you can have the meeting at your office and serve free coffee and donuts. You may run an advertisement in the local paper or the local radio station promoting the event, in addition to the postage used to mail your current customers. However, overall the cost for this event is very small.
By branding you and / or your business, you can set yourself apart from the competition.