Is it possible to spend your way to branding success? If you’re a huge fast moving consumer goods company, the answer is “maybe.” As a small business, it’s an unequivocal “no.” Branding involves building an ongoing relationship with your customers and prospects. In most cases, your target market cannot be strong-armed into engaging your business through the water boarding of marketing impressions and in-your-face advertising. Each year, a market research firm releases the results of a survey on memorable product launches. A recent survey showed that the Wii Fit was 2008’s most memorable launch; yet only 22% of respondents were able to cite the Wii Fit. An amazing 69% could not remember a new product launch last year. Not a single new product! But wait; ad spending continues to rise. The noise level in the marketplace is deafening. What’s going on here and what’s the lesson for small businesses? First, the big multinationals can often afford to throw around scads of cash in an attempt to grab market share. And sometimes it even works. But, you say, you don’t have $60 million to throw at launching new brands and supporting your current brand portfolio? Welcome to the club! For small … Continue reading Biggest Branding Bang – Smallest Branding Buck