5 ways to build a great brand for your SME
Creating brand awareness is an important part of running a business. Here are some tips on building a strong brand.
1. Build a great website
The importance of an eye-catching, intuitive website cannot be overstated, especially if your business involves e-commerce. It can be daunting deciding on a suitable service provider – a good place to start is DBS Start Digital, which has a curated list of trusted service providers who can help you build a great website and online store.
2. Raise brand awareness
Once you have established a solid online presence, it’s time to get the word out. Take the time to think about possible avenues for marketing your business, keeping your budget in mind. Lower cost options include getting listed on local or regional business directories or taking out social media ads; or, if your budget permits, consider hiring a professional marketer to do the job. Again, DBS Start Digital is a good starting point for this.
3. Create a retail presence
Some brands start with a digital-only presence, but find themselves benefiting from a physical retail store. If you’ve done your homework and have decided a physical shop is the way to go, begin thinking about the type of space which will best appeal to your customer base. This means thinking not only about décor, but an overall concept and product line you will need to feature in your shop. Depending on whether you plan to buy or rent, you may need to consider a DBS commercial property loan or DBS working capital loan to get all set up.
4. Work for a cause
One of the best ways you can raise awareness of your brand is to stand for something. If you’re running a business with a social cause – whether in terms of providing employment for underprivileged or donating a portion of your profits to charity – you might be eligible for a DBS Foundation Social Enterprise Grant. The more you get the word out about your business, the bigger the impact you’ll be able to make within the community.
5. Keep fine-tuning your brand
Once you have an initial brand identity to work with, don’t just leave it be – take a long-term approach and continue fine tuning your brand with time. Take care to ensure your brand stays relevant to your target customers by continually engaging them, and finding out what makes them tick.
For more information on how you can build a stronger brand for your small business, log on to DBS Start Digital.
Was this information useful?
Subscribe to DBS BusinessClass
Stay updated with the latest market trends and industry insights, connect with a network of entrepreneurs, and gain access to exclusive event invitations. Join Asia's fastest growing business community – get your complimentary membership here.