How Brand & Marketing Costs You Money: Without Spending a Dime

So you say brand & marketing, web design, and social media management are expensive.

Well, yes…….I’ll agree…….It is.

And being a small business owner myself, I get it. Although I don’t have to pay directly for a designer’s time or a marketing strategy….. I do spend MY time.

Often, my marketing and design take a back seat to project deadlines. My portfolio updates are left for Christmas Breaks and strings of influenza when I’m stuck in bed. So as I type this blog – I’m sick – Not a coincidence, but I digress.

Even though I am the designer, and I am the marketer, and I am the social media manager…..My business takes a back seat. I don’t give it the time it needs. As a result, I’m often the last to update my blog and branded content, have something meaningful posted on my Facebook page, and interact to track after clients.

What I’ve realized is that I’m not alone. I find that most small- to medium-sized businesses are in the same boat. They don’t have time to figure out what they may need, but they know they need something, and they realize they are losing traction by doing nothing.

I’ve said before that if you have no budget, you have no brand. This is the same concept as losing traction by not marketing and consistently keeping your brand in the center of focus.

It’s a frustrating position to be in when you are trying to keep your head above water, managing the day-to-day operation of your business. You think of potential business ideas and see opportunities slipping because you don’t have the time to “make things happen.” You look at the well-oiled machine of a business someone else is running and wonder…how are they doing all that and growing simultaneously? You begin to feel overloaded and defeated until you realize why you got into business for yourself to start with. People have misconceptions about business ownership and feel like they’re drowning.

I am constantly caught in this catch-22 of not having enough and needing to do more.

How Brand & Marketing Can Drain Your Finances Without Spending a Penny?

So how is brand & marketing costing you money without spending a dime? Well….. you are losing money by the lost opportunity. When you don’t send a message out…it’s never received. Growing your brand equity and brand recognition in the marketplace is essential to staying relevant to your target demographic.

So….for my fellow business owners, I have some food for thought for you—three simple steps to take to start moving toward gaining traction and getting things done.

Step 1 Find Your Purpose

Get off the focus of how to make more money, save more money or grow. First, as a business owner, you have to figure out who you are and where you’re trying to go. Rationalize, analyze, speak, and eventually write it down! Do not ask other people (unless co-owners of the business) their opinions. Next, you must identify why you are doing what you’re doing and why your customers and potential customers should even care.

Some key things to take inventory about:

1. Why am I in business for myself? Money? Time with Family? Passion for the Industry?
2. What is the purpose of this business? Am I helping someone? Am I providing a Needed Service?
3. Where am I trying to take this business? Am I trying to leave a legacy? Am I trying to Grow it, to sell it? Am I just working until retirement and then closing it?
4. Why should anyone care that you are in business? (sounds harsh) but this is by far the most helpful question I ask my clients. If you don’t know why someone should care why you’re in business, then you shouldn’t be in business. You won’t be able to sell yourself to anyone if you can’t sell yourself to YOU.

Step 2 Work with People

The best of the best of the BEST see the value in TEAMS. However, you can’t be a one-woman/man show and expect to be able to take over the technology sector. You have to formulate a plan, including having people around you who round out your strengths and weaknesses. Key people you may need:

1. Small Business Administration – Utilizing places like the Small Business Administration is of great value to small business owners.
2. Accountant – This is essential if you aren’t good with money or budgeting.
3. Alaska Small Business Development Center – Another excellent resource for Alaska Small Business owners.
4. Anchorage Chamber of Commerce – Offers networking events to tie into others in your sector or partner with businesses to lift one another.
5. Brand Consultant and Graphic Designer – You will spend more for a designer. Still, the impact of having a solid aesthetic, unique brand asset, color, and typography will push your message further and consistently.
6. Marketing and Social Media Management – Keeping your brand equity growing means keeping a tangible place in your market and the face of your target audience.

Step 3 Execute Your Plan and Stay Consistent

Consistency is a surefire way to ensure your business grows and remains relevant. You don’t have to come out of the marketing gate blazing trails, but you need at least a small drip of movement. Small businesses are expensive to open, operate, and run, but you do not want a brand with zero gas behind it.

You must utilize the vision, brand, and plan that’s been developed and consistently put that message into the marketplace. Alaska is a small enough market that, luckily, it doesn’t take long for the word to get out about your business, especially if you do things the right way.

Contact Bianca Frank Design today to see how we can help increase your brand equity!

Bianca Frank Design offers a comprehensive brand and brand development package that can be utilized to begin or reinvigorate your small business marketing strategy. Whether you need small business marketing strategies, graphic design, brand design, web design, or brand or design consultation on where to start, drop a note, and we will be in touch soon.