Does your business have a clear voice?

Tax Tips are not a substitute for legal, accounting, tax, investment or other professional advice. Always consult with your trusted accounting advisor before acting upon any Tax Tip.

Does Your Business Have a Distinct Voice?

Even with the best services on the market, a business is only as good as its reputation. Without a solid brand identity and strong following of consumers, your business can't meet its full potential. Although many businesses mistakenly believe that building their brand requires a billion dollar advertising budget, this isn't necessarily the case. In the world of advertising, a distinct voice and unique personality can generate awareness even with limited advertising.

The Importance of Distinction
The average American is exposed to more than 5,000 advertisements every day. With so many companies competing for each consumer's attention, standing out from the crowd is more important than ever. Advertising your products and services simply won't be effective unless you can find a way to make your company memorable for consumers. Thus, it is much more important to be unique than to bombard consumers with advertisements from multiple sources.

Breaking Through the Noise
Standing out from all of the other businesses that are trying to attract consumers requires your company to be different from the others in a positive and useful way. For example, Craigslist built its brand by offering a service consumers couldn't find in other places, investing in minimal advertising and relying on its customers to spread the word to their friends and family. Likewise, Amazon.com separates itself from other online retailers by offering fast, free shipping for almost all orders and rewarding customers who sign up for their membership program. Although both of these companies do spend money on advertising, it is their distinct voices and unique products that make them so successful, not the size of their advertising budgets.

How to Find Your Voice.
To get the most out of your advertising campaigns, focus on quality, not quantity. Decide on one or two qualities you want consumers to associate with your company and use them to create all of your advertisements and brand messages. For example, if you want consumers to remember your company as the most reliable and affordable, make sure that every ad you create emphasizes these qualities over all others. Finally, remember that success in the business world requires trial and error. Watch your advertising campaigns carefully to determine which efforts are most effective and which are failing. Expand the efforts that are getting the best results and make changes to those that aren't performing as well.

[View Article List]

TAX ADVICE DISCLAIMER: In accordance with IRS Circular 230, any tax advice included in this communication, including attachments, is not intended or written to be used, and cannot be used by you or any other person or entity, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions, nor may any such advice be used to promote, market or recommend to another party any transaction or matter addressed within this communication. If you would like such advice, please contact us.