Let’s face it, times are tight. It’s hard enough for small businesses and organizations to keep the cash flow going in a thriving economy, let alone in a difficult one. I’ve covered the importance of viewing branding as an investment, rather than a cost, but when finances are strained, your expenses and your investments seem like the same thing. After all, it’s all coming out of the same place right?

So how do you continue to view your brand strategy with an investment mindset, when you have little to know money to throw at brand development? Is it possible to grow your brand in a tight economy? Is it possible to brand with a small budget.

Yes. Not only is it possible to build your brand, but it’s absolutely essential that you do. The last thing you want to do is stop your branding efforts when times get rough. Your efforts may change, but they shouldn’t wane. Because the economy will rebound, and the question asked of you at that point won’t be how you survived, but rather how you positioned yourself during the downturn?

I’ll make one simple point, and then get to the practical application. As difficult as it is to see the light at the end of the tunnel in today’s economy, DO NOT forget about building your brand. Remember, by viewing your brand as an investment, you are committed to a long-term strategy. There will be bumps in the road, but if you keep persevering, and keep your eyes on the prize, you’ll come out alright in the end. Look at this time as an opportunity to reposition your brand, to capitalize on what your competitors aren’t doing, and a chance to ride the wave once things turn around.

Here are 9 practical ways to brand with a small budget:

1. Be open to negotiating terms with consultants, designers, and agencies. Chances are they are hurting too, so if you can’t pay upfront, offer other options such as deferred compensation with interest, a percentage of future revenues, or payment plans. Depending on your business, you may even be able to work out a bartering arrangement. Some may not be able to make such arrangements, but many will be willing to work with you in exchange for having any work at all.
2. Work in phases. Recognize that you may not be able to do everything you want to do right away. Categorize your needs into Essential, Non-Essential, and Potential categories. Put your efforts into the essential needs, and work on other elements when you can.
3. Embrace and utilize the power of FREE. There are so many tools that you can and should be using to help grow your brand, especially on the internet. And the great thing is, many are free. Think about ways to utilize social networking tools such as Twitter, Viddler, Facebook, LinkedIn and others to promote your products and services. Start a blog, or build your network by commenting on others’ blogs. Chances are you have more time on your hands, so use that time to network, and extend your brand presence.
4. Meet with a branding agency or designer to plan out strategy for when the market rebounds. You may not be able to actually hire these organizations to craft solutions for you, but use the time to think strategically for how to position your brand in the future. You’ll probably have to pay to get ideas and strategies, but most likely not as much as actually implementing these strategies, and it will be money well spent.
5. Host free events. If you have an office, organize an informational seminar or informal get-together to meet with clients and potential clients, and keep your brand in the minds of your target market. Advertise through emails, or creative invitations that are inexpensive and easy to produce. If you don’t have an office, ask one of your clients or customers if you could use theirs, rent out a room at Panera, or if you have a small guest list, simply go to a Starbucks.
6. Research, research, research. Use the free time you have to research your competition, read books on branding, review potential branding and marketing agencies, or strengthen your knowledge of your industry and products.
7. Do some strategic informational marketing. Make a list of your customers / clients and specify what industry they are in, or what their general interests are. When you come across information, articles, or other resources, send these to a relevant customer / client. You can do this by email, or better yet, by hand written cards.
8. Find co-branders. Look for collegues, fellow business owners, friends, and others who might be interested in co-branding their organization with yours. Host events, or specific marketing initiatives together, share the cost of marketing materials by combining your information with theirs, and discuss ways to help boost each others’ businesses.
9. Have faith and stay positive. Probably the best thing you can do for yourself, your organization, and the health of your brand is to stay positive. Times may be a bit bleak, and finances may be stretched, but if you have an idea that you believe in, and if you’re working hard towards your goals, you’re one step closer to achieving them. Be wise, but also have faith.

The bottom line is that there is plenty to keep you busy when it comes to growing your brand in a tight economy or with a small budget. You just have to be creative, well-informed, and willing to ‘hustle’. If you work to develop a strong brand idea, and solid brand strategy, no branding effort will return void.

QOTD: What is the most successful initiative that you’ve done to help build your brand? How can you use the same idea with a fraction of the budget and still be successful?

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About the Author: Jason VanLue is a graphic designer and brand consultant who lives in Orlando, FL. He is the Founder and Principal of FiveSeven Studios, a small interactive design and brand consultancy that helps small businesses and organizations grow their brands. Learn more about FiveSeven Studios.

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