Last updated on November 29th, 2017
In the world of small business where every mistake counts and every penny pinches, branding remains crucial. As we’ve come half way in the year 2015, it’s important to understand what trends have been ruling the roost in the world of small business branding. Reports reveal that around 28,443,856 small businesses brands are trying to make a mark in the market this year. There has been a dramatic change in the way small businesses share their vision and value with their consumers and prospects. A report reveals that 62% of small businesses prefer that their consumers are able to interact with their brand to better understand their vision and values, whereas 38% still go with the small business owners still prefer the old school ways of sharing one-liners to describe their vision and values.
More than 6,000 new business names enter the market, each day. And each company rubs shoulder with the other to grab user’s attention. Out of all the ventures that start each day, 54% prefer using only 1 word names in order to make their brand easily memorable. On the contrary, 39% of them go with 2 word names and 6% use 3 word names. Only a meager 1% of new business owners choose 4 + word names for their companies. When it comes to small business branding, it remains essential to project core values to summon the interest and attention of consumers and prospects. And most small business prefer projecting their core values as ‘Excellence’, ‘Honesty’, ‘Respect’, and ‘Accountability’.
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For long, business barons, industry experts and media pundit have believed that inspiration is the key to realize aspirations for small businesses. But new-age small businesses don’t share the same belief. Quite expectedly, only 1% of small businesses prefer mimicking big brands such as Apple, Nike or Starbucks to drive awareness and get people in the door. Colors play a huge role in small business growth. It is a well known fact that colors evoke emotions and charge prospects and consumers emotionally. Quite obviously, every new age small business seems to be in a maddening frenzy to explore the power and potential of colors to their advantage. In fact, a study reveals that 85% of customers are influenced by colors when making purchase decisions. Studies also reveal that colors can enhance brand recognition by up to 80%. And when it comes to favorite to colors for small business branding, blue rules the roost, just like the last year.
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