ADVERTISING MANTRA FOR SME BRANDS

Effective Branding today is the success mantra for every business, and particularly for SMEs with less money...branding activities which include Product innovation, advertising, PR. looks like a heavy burden on their balance sheet. But it is important to keep advertising and stay focussed towards the product offerings to stay relevant for the consumer. There is no doubt whatsoever that an effective advertising, coupled with a good product which can fulfil the brand promise made through advertising communications usually allow a small and medium enterprises to have two fold benefits

1-Create its own identity in the market

2-Get a slow but steady growth in their market share thus becoming big

We have seen some old SMEs with decent market share starts reducing their marketing spend assuming that they have established themselves and now can sustain in the market but this is a complete misjudgement of the ever changing market scenario. They should not forget this fact that today’s market is so volatile that if you are not seen you are soon forgotten as consumer is bombarded with new offerings every now and then and you have all the chances to become history if you are not visible enough.

I have a mantra for SME brands who thinks marketing is expensive and they are scared of spending big because they are not sure if it will give them immediate gratification in terms of sales number.

SMEs should follow SIP method (mutual fund systematic investment plan method)...Just spend 5% of your annual turnover in advertising and product innovation build them in your product pricing and keep investing every year without thinking too much about end result...just keep investing...with a time horizon of 5-6 years and evaluate the results after 5 years.

More often than not you will be the happiest person with your brand becoming far more stronger than what it was 5 years back and you will have big brand and more money to invest... diversify etc.

But Similar to Mutual fund investment...it is important to choose right and proven product and platform for investment.

We must select-

1) Right advisor (Creative Partner, media planning partners),

2) Right amount of investment

3) Right media platforms

4) Right message for brand communication.

This is Called SIP mantra of advertising to transform a small brand to a big brand. Follow it to experience it.