Here are a few statistics for small business owners to remember when deciding whether branding is still a good idea:
*Source list compiled by www.BrandingontheNet.com, Kristie Tamsevicius by researching when the top branded were founded and using an article "The Top 100 Brands of 2003" from BusinessWeek
A case for defining a niche:20% of your customers will deliver 80% of your revenues.
A stronger corporate brand image will boost your stock price by an average of 5-7 percent.
Spending MORE on personal branding during a recession will bring a bigger return on your dollar!A 1998 PIMS study showed that increased marketing spending during the last recession achieved an average return on capital employed of 4.3%, compared to 0.6% for those that maintained marketing spending, and -0.8% for those that cut spending.
Did you know that a P.S. is 10 times more likely to be read than any other text in your sales letter?
"A brand should strive to own a word in the mind of the consumer."
Al Ries and Laura Ries
Check out this great article from Fox News:Small Business Branding 101