Branding for SME and MSMEs-Some Questions

Branding has been an evergreen area for discussion and its significance for business has always been rising. In the present digital era, it has become strategic and pinpointed communication, which has influenced the branding landscape. With accessibility of mobile commerce and social media sites brand communication has multiple variables as well as metrics for efficacy. Yes, fake reviews as well as paid blogs have dampened the game a bit. Still, it is an interesting game to watch.

Now comes the important question –Is Branding a necessity or luxury for the SME and MSME sector. Struggle for existence is so intense in this sector that focus totally remains on sales. There is an inherent feeling that branding is only for the large-scale sector as it needs deep pockets. This is where, a bit of realistic thinking is required by the entrepreneurs.

Some questions to be asked here are:

1. What constitutes Customer Value in my need set category?

2. What are the best practices in my need set category?

3. How can I imbibe some of the best practices in my offerings as well as offering communication?

4. Can I make some value interventions in my Customer Value Chain, which is better than both my Primary as well as Secondary Competitors?

5. What are intangibles in my offerings? It can be a service component, OR packaging, OR distribution channel intervention OR Marketing Communication. Can I tangibalize any or some of them for a better brand image?

6. Can there be a service element introduced to my customer or channel?

7. Has there been some creative changes in my marketing communication. Or, does it remains the same for last few years? Does it convey my brand image to my target market today?

8. What are the different variables of my offerings, which are contributing to my brand image? What can be the metrics for measuring their efficacy?

9. Can I channelize the image emanating from these variables to create a positive brand image? It will save my valuable resources, which otherwise I would have spent on marketing communication.

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Finally, I also get questions on Branding for the B2b sector. I would say this sector is based on hard-core fundamentals. ?A sequence of good product, good service, prompt and proactive approach towards customer/client organisation leads to a positive instrumental conditioning. This in turn also leads to referrals and positive endorsements, which are necessary for new sales. It also leads to a greater lifetime customer value for the supplier/manufacturer. Yes, one can always look for intangibles like presence in Industry fairs and presentations in seminars as an effective tool for brand communication.?