There are many facets of small business marketing. Lead generation is often the most potent weapon for local small businesses. Branding is considered as the most potent weapon for large companies or conglomerates. Not every company can afford massive branding campaigns but every company needs to strike a balance between lead generation and branding. That is the only way to form an effective business marketing strategy that will stand the test of time.
A company cannot keep relying on lead generation campaigns to ensure the bottom line is secured. Over time, the company will need increased awareness among its target audience. There should be a natural inflow of inquiries and some of them should lead to sales which would have nothing to do with lead generation campaigns in place. Small business marketing cannot work in isolation without either branding or lead generation.
There is a need to shed some light on what branding effectively achieves. The primary purpose of branding is to create awareness and to create a perception or belief that a company is credible and its offerings are worthwhile. This drives sales to an extent. Large companies rely entirely on branding to drive sales. That is because they cannot attain the numbers they need with lead generation. However, this doesn’t imply that large companies don’t engage in lead generation marketing at all. They do but they find the balance between branding and lead generation to suit them. Local shops too should resort to branding to reach out to as many in the target audience as possible.
A small to medium company would not need massive branding as its target audience would be small and might be a niche. Lead generation marketing campaigns will set the ball rolling and would get sales on an ongoing basis but if there has to be growth or increased profitability then branding campaigns must be designed. Independent small businesses often walk the tightrope of balancing returns on investment with risks and the stress on the former prevents the companies to invest in branding. There are no immediate returns on investment in branding. That makes many companies uncomfortable but one needs the foresight to see the long term returns of branding.
Every small business owner aspires for a day when it would not have to work round the clock to secure the bottom line or worry about the financial viability of the business instead of enjoying growth. To accomplish that, there has to be a stress on branding.