As SMEs struggle to counteract with the current economic and social climate, there has been a shift in how they define their brand values. It is common knowledge the value for money ranks first among SMEs when it comes to defining their brand.
In these economically challenging times, businesses are keen to offer a good value plans to attract customers and ensure that their companies thrive. Among other tools for businesses, reliability and trust rank high as brand values are desirable to new businesses.
With the pressure to succeed, SMEs might make mistakes when defining their brands therefore failing to identify with their target customer. Creating a strong brand is therefore important for the eventual success of any enterprise and therefore shocking that most SMEs lack this knowledge. Some SMEs fail to create their brands all together
SMEs start up targeting growth and prosperity as company therefore as the business expand to the international market there comes the need to protect their brand. However, for the Kenyan situation, small businesses are not trade marking design assets such as company logos and other business related identities. This is the reason why brands such as the kikoi were stolen.
A perspective from the design and marketing industry enlightens that it is crucial for creative professionals/marketing managers to be provided with a quality brief if they are to deliver a service with optimum creativity. However, most creative professionals and brand marketers are not fed with concrete information therefore limiting their ability to work on a given project assigned.
In these unstable economic situations, small businesses must exemplify only the most appealing brand values that are appealing to their target customer if they are to succeed. As an SME, you need to consider the customer as first priority when developing your brand values that your company will be identified with.
- Ensure you identify your target customer and the relationship with your brand values
- Think about the future and the possibility expansion therefore your brand should appeal to the international market.
- Trademark all your design assets to avoid your competitors (home or abroad) from stealing your creative look and feel.
- Provide your designer/brand manager with a quality brief and realistic timescales to ensure they produce the best possible work for you