Anjali is a woman solopreneur and makes kids’ hair accessories for their branding. She has a close circle of customers and takes orders for customized hair accessories. On this Rakshabandhan, she prepared handmade rakhis and dispatched them in branded (with Logo) boxes. Although her business is small, Anjali has a strong vision. She understands that by establishing her brand, she will be able to grow her business to a higher level.
You guessed it right, brands make a difference. Several reasons speak in favor of establishing a brand for a visibly better business.
What Benefits a solopreneur can Avail from Branding to their Businesses
Branding can increase Business Value
Brands provide more leverage to businesses in the industry. It helps to create an appealing investment opportunity by creating a unique identity in the market. Strong brands are translated into value. This value can be anything like loyal customers, price premiums, or mind share. Our women entrepreneurs will be amazed to know that your business’s brand also holds value. Balance sheets and profit-and-loss accounts reflect this value under asset sides. Although brand valuation is a complex activity, it is a critical parameter.
Brands Generate New Customers
Brands benefit from quality leads from referral business. Customers form favourable impressions of brands. They build trust among customers, which helps them to recommend it further. Once the brand is set up, word of mouth makes the business more popular. Recommendation creates a positive perception in new customers’ minds, and their purchase journey starts with a trustable knot from day one.
Brands Infuse Pride and Satisfaction among Employees
Saloni owns a small merchandising business in Dwarka, Delhi. Like Anjali, Saloni is also a woman solopreneur with high aspirations. Recently she created her business bio website and published some branding material like tee shirts, umbrellas, pens, etc. This motivated her employees, they consider them lucky and better than others to work for an established business. Saloni also finds it easy to find new employees in the market, as her brand has created a positive impact on the job market.
Brands Create Trust within the Market
A brand’s market reputation goes up with the client’s trust. The stronger the perception of a brand, the higher will be the market reputation. Funding possibilities, better valuations and customer engagements – are all elements that are closely related and puts a positive impact on growth.
Are you ready to take the leap?
If you are a woman entrepreneur or solopreneur, you too can establish your brand. Irrespective of size and product, you can start your brand-building journey by setting your business bio websites. If the nature of your business is stopping you, then do not worry. You can take the example of Raju Tea Stall. In India, even tea stall has established a brand that gives the franchise to others.
Recommended readings:
– How does a digital identity help women entrepreneurs earn more clients.
– 3 simple digital marketing tips for Solo Womenpreneur.
– The Number One Piece Of Advice For Solo Womenpreneur.