Business Strategy: Creating a Memorable Business Image

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Introduction

Business image is the perception that people have when they see your company name, hear your company name, or think about your company. These people include, but are not limited to, customers, investors, suppliers, and employees. A successful business strategy includes plans for creating a positive and memorable business image.

Factors to Consider

Several factors should be considered prior to creating your business image. Each of these factors will help you decide what your image should be. First, you must identify your target market. Performing a market analysis can assist with this step. Determine who your customers and potential customers are.

Once your customers have been identified, you must pinpoint their values, desires, and priorities. This can be accomplished with surveys, focus groups, or customer feedback. Common customer values, desires, or priorities help lead to various branding concepts.

Next, you must identify the specific qualities with which you want your company to be associated. The specific qualities will differ depending on the type of business. A restaurant may wish to be associated with down home country cooking, while an investment firm may wish to be associated with professionalism. Identify appropriate qualities and choose those that generate positive feelings among your target market.

Finally, define your business and focus on a specific aspect of the business when creating your business image. If you decide to use a slogan, make sure your slogan reflects the specific business aspect you have chosen.

Features of a Memorable Business Image

One crucial point to remember is that the description of the business image should be short and concise. This is an important aspect of your business strategy. A long, wordy, confusing image will likely be forgotten, primarily because it is too difficult to remember. For example, the fictional company Able Accounting provides small business accounting services. Below are examples of both a memorable and less memorable image description of this fictional company.

Memorable: Able Accounting – affordable and accurate accounting services for small businesses

Less Memorable: Able Accounting – accounting services for small businesses provided at a competitive price while paying attention to detail and following all GAAP requirements

You should strive to create a unique business image. This helps set you apart from other companies that provide the same or similar products or services. Using the information you gather about customer values, desires, and priorities, you can develop a company name or slogan that communicates the image you wish to express. For example, the common customer priority of speed may have prompted the company Jiffy Lube to incorporate this priority into the company name.

Avoid using a geographically specific business name or business image, such as Tampa Bay Tires or Southern Utah Consulting Services. “Unless you want your business to be tied to a specific location…you should choose a name that gives your company room to grow into new towns or cities” (McCuan).

Incorporate your business image into all aspects of your company. Signage, the company logo, marketing materials, letterhead, business cards, and advertisements should all promote the business image you have chosen to promote.

Conclusion

Creating a memorable business image is a vital part of a successful business strategy. The correct image will take time to develop and promote, and it is a continuous process. However, the returns will show that it is well worth the effort.

Melissa Bushman has published several articles at Associated Content. Please click her name at the top of this page to view her other work.

References

“Image.” Entrepreneur Magazine website. URL: http://www.entrepreneur.com/encyclopedia/term/82188.html

McCuan, J. “Image is Everything.” SmartMoney Magazine website. URL: http://www.smartmoney.com/smallbiz/index.cfm?story=20050317&adSection;=smallbusiness&nav;=smallbusiness