Branding for SMEs

Branding is the process of creating a unique name and image for a product and service in the consumer’s mind.

Small and Medium Enterprises (SME’s) usually ignore the importance of branding because they are mostly too overwhelmed by the idea of creating a unique brand, as well as the costs involved in generating the brand. The Brand is your image in the minds of the customers and branding is a medium that helps you to sketch that image.

At Global Council for Cluster Excellence & Research, we promote the “Branding for Competitiveness and Sustainable Growth” framework which aims to:

  • Create a unique brand and identity for locally produced manufactured goods.
  • Provide market intelligence to identify niches for the brand’s products of the beneficiary country at national, regional and international markets.
  • Upgrade human and technical capacities of the national expertise and pilot beneficiary enterprises to produce higher value-added goods under the joint brand.
  • Present the brand and its products at industry-specific national, regional and international platforms (fairs, exhibitions, B2B meetings, others).
  • Strengthen linkages between manufacturers, technical support institutions, academia and the public sector for an improved business environment.
  • Facilitate quality compliance of the branded beneficiary manufacturers’ products to the Certified Brand Programme based on ISO 20671 “Brand Evaluation”.
  • Support networks and business linkages for export promotion of target industry products joined under a common brand on the national, regional and international markets.

Branding builds bigger, better business

SMEs should shift their mind-sets and make branding an integral part of their business plan rather than an afterthought. It should emerge, grow and evolve along with the business and the company will see a significant difference in the impact it creates.

Building the business and sustaining growth

Growing the business with limited access to capital and resources can prove to be challenging. Branding helps in creating demand for products and services, resulting in faster sales. Even for B2B business, branding creates recognition, reputation and trust resulting in better conversions.

Expanding from local to national to international

No SME wants to remain an SME and always aims for bigger glory. The struggle to expand into national and international markets can be long and tedious. Branding helps in creating awareness and acceptance for products and services across borders, resulting in a faster adoption.

Attracting the right talent

Great brands are trusted. They cushion their stakeholders in security. People want to work for brands that they can entrust their career with, to the extent that they would willingly compromise on a higher salary offered by a smaller or lesser-established brand. This enables SMEs to attract good talent at lower costs which further increases their success ratio.

Getting a premium for products/services

People are willing to pay a premium for an enhanced, consistent brand experience. As a brand, SMEs focusing on the same can afford to charge a premium resulting in better business and sales.

Digital branding for SMEs

Digital branding is a technique that leverages the power of the Internet and digital mediums to develop a brand – the specific identity or image of a company. It empowers businesses to spread their reach across several platforms and generate a constant flow of leads.

SMEs across the world should adopt digital branding as the core of their business strategies for various reasons. SMEs must take the advantage it offers. :

  • It helps to maintain a competitive advantage and lets your business stay ahead of your competitors.
  • Brand building helps to convert customers into brand loyalists.
  • People care less about businesses that are not found online.
  • Businesses lose trust if they are not able to respond to customer queries on social channels.
  • Digital branding follows a multi-channel approach to improve your business presence across all channels where your customers are present.

Startup

This is the first time that a mapping has been planned to be carried out of Global startup companies that are addressing the United Nations’ Sustainable Development Goals – the SDGs. They’re called “SDGs: Global Impact Startups” since they have the potential to have a good social and environmental impact as well as financial gains.
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WCombinator

WCombinator is an international network and accessible digital platform for sharing research, resources, and leading strategies. It is designed to address the needs of diverse women entrepreneurs across regions and across sectors. In response to COVID-19, WCombinator adopted an agitator role connecting women entrepreneurs and support organizations across the country and led network calls and training sessions.
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MSME Growth

While there still lacks a universally accepted definition, Micro-, Small and Medium Enterprises (MSMEs) are widely recognized for the important contributions they make to sustainable development, in terms of contributions to economic growth, creation of decent jobs, provision of public goods and services, as well as poverty alleviation and reduced inequality.
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Womenomics

Womenomics is the idea that women’s economic advancement will improve the economy as a whole. If Womenomics is to succeed in Japan and elsewhere, we must first recognize the cultural and logistical reasons behind low rates of female labor participation. This means creating both job opportunities and support for female workers. Womenomics is a powerful force, which could expand a shrinking labor market, significantly increase GDP and contribute to the health and wellbeing of society.
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The 6 P’s of the

Entrepreneurial Spirit
01

Passion

Passion cannot survive without a path
02

Path

This is your plan for getting there, at the pace you set
03

Positivity

No success is possible without cultivating an optimistic perspective
04

People

Without the power of people around you to support you
05

Perseverance

None of these P’s will work if you don’t fuel them with perseverance
06

Productivity

How you use your time to make it count.
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