Over a third of small businesses openly admit to having no brand values, according to a survey conducted by Microsoft.
Companies with fewer than 10 employees are the least likely to have attempted to build a brand, the poll found, with 58% admitting they have made no moves in this area.
“Small businesses are not realising the importance of implementing brand values and how a lack of strategic marketing has a direct impact on business performance and profit margins,” said Karl Noakes, director of small business for Microsoft.
“Many small firms are not acknowledging that branding – creating awareness of exactly what your business does and how it does it – is just as vital as recruiting employees, attracting investors and chasing sales,” he added. read more
(first published on Scalar Enterprises blog 2009)