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.

Service

Healthcare, Legal, Accounting and Auditing, Hotel and Tourism, Environmental , Entertainment, Maritime Transport, Distribution, Architectural, Educational, Advertising, Marketing, Print and Publishing, Consultancy Services are part of this cluster
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Agro & Food Processing

Small-scale farmers, Importers, Exporters, Agri/ Food Processor, Support service provider, Common facility, Production in-put supplier, Packaging, Branding and the rural communities are part of the cluster
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Artisanal Clusters

Furniture, Metalware, Textiles Hand Embroidered, Wood Carving, Pottery & Clay, Wood Carving, Cane & Bamboo, Textiles Handlooms, Stone Carving, Carpets, Bidri, Grass, Leaf, Reed & Fibre, Ivory, Jewellery, Leather Other articles etc
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ESDM

Electronic products, Electronic components, Semiconductor design, Electronic Manufacturing Services (EMS) including testing and calibration, Foundry & Forging, General Engineering, System Integrator
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Cluster management cycle

Global Council for Cluster Excellence and Research
01

Define

Cluster vision, management mission, strategy, objectives, key performance indicators, key uncertainties
02

Design

Design actions, communication platform, monitoring and evaluation systems, agreements with stakeholders
03

Implement

Implement actions as designed (e.g., networking, providing information, lobbying, collaboration, education, cluster promotion)
04

Monitor

Monitor implementation (i.e, collect and record information on key performance indicators, review progress, identify problems in planning and implementation)
05

Evaluate

Evaluate the results (i.e, determine the purpose of evaluation, identify key evaluation questions, facilitate the evaluation process (in case of external evaluation), analyze the results)
06

Revise

Revise objectives and uncertainties, report to stakeholders
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