Due to their size, SMHBs (Small and Medium Size Hispanic Business) have limitations on access to appropriate technology and specialized professionals to help them in their business evolution. Additionally, when compared to the average US SMBs, Hispanic Business owners might face other cultural, financial, and social challenges that create additional risks.
The average SMHB company lacks professional marketing advise and therefore a detailed marketing plan. That actually leaves Hispanic owners without a clear understanding of "Brand" as a marketing effort and their misconceptions hurt deeply the growth and future revenue of their businesses.
Redefining "Brand" for SMHBs
Most people in general associate “Brand” with one of the most straightforward definitions; “As a product manufactured by a company under an specific name“. SMHBs are no exception. They generally think of company brands or product brands as a drawing or symbol that works as a representation of their products and/or services. But a Brand is way more complex and relevant than that.
A "Brand" is a representation of a perceivable object transformed into memorable concepts by a percepting subject. It sounds complex but I should begin by explaining it in a simpler way. SMHBs must understand that Brand is the perception left by any interaction.
Any sensory stimulation related to their business will leave specific marks in the customers. Those marks left behind is how we "Brand". By using this concept, SMHBs will be able to understand that all interactions with their customers (internal/external) are relevant to the perception of their products and businesses.
A "perceivable object" is something that can be recognized. Your business, your product lines, your individual products are all perceivable objects. Since each one of them is different, they all have individual entities, therefore, they will create their own memorable concepts in percepting subjects (people or entities that can discern information). So each one of these "objects" will create their own memories in the subject and add on to the general sense of what your business is "branding" as its message and many levels (Corporate level, Product Line level , or Individual Product Brand level).
Hispanic Business can benefit from understanding the advantages of separating how you communicate at every one of these levels. Creating specific experiences and methods of communication will guarantee that your business will leave a different mark in your customers minds.
For more information in how your business can benefit from a clear marketing strategy, specifically designed for SMHBs, feel free to contact me for a free consultation.