The Importance of SMB Branding
A recent study from 99designs is shedding light on the importance of branding initiatives for small businesses (SMBs) just starting out.
According to the “SMB Branding Perceptions” survey, 6 in 10 SMBs say a company’s brand and website has influenced their own purchasing decisions, while three-quarters of respondents agreed that a professional-looking website will help attract better customers. That said, the data shows that SMBs just starting out tend to spend less time on branding initiatives like getting a logo and more time on other tasks like marketing and sales.
Further insights show that women are more likely to invest time and money into getting a logo and company brand than men, which may not be surprising because the data also found that more woman believe a professional-looking website is a priority when compared to men. Additionally, more than half of the survey respondents admit they have probably or definitely lost business because of a poorly designed website.
“Over the past seven years, 99designs has helped hundreds of thousands of small businesses around the world launch and grow their brands, so we are obviously huge believers in the power of great design and professional-looking marketing materials to propel sales and attract customers,” said 99designs Chief Marketing Officer Pamela Webber. “Given our fast growth, it’s interesting to see some people still placing less priority on initial branding activities and to learn how perceptions vary according to age, gender and industry.”
It is important to note, however, that 63 percent of the survey’s respondents agree that how customers perceive their brand is important. Moreover, the top two priorities for respondents looking to sustain long-term success with their business included providing great customer service and being memorable.