Cuban MSMEs: Time to focus on brands

Cuba has finally begun to retrace the long road leading to the establishment of Micro, Small and Medium-Sized Enterprises (MSMEs), a new economic actor that promises to energize and diversify the national economy.

MSMEs were, for years, a demand of a part of the Cuban non-state sector which, to a large extent, was already operating as such, under the title of “self-employment.”

Some will start from scratch, encouraged by the new legislation that protects them. Others will opt for recognition as small or medium-sized enterprises after accumulating experience in previous ventures. Absolutely all of them will need to strengthen their brand in order to position themselves in a market like the Cuban one, marked by a commercial and business panorama that for decades did not strengthen communication with its public, but which is currently open, as never before, to the most contemporary marketing trends.

The brand goes beyond the logo, corporate identity and communication strategies. It is also the set of values promoted by an organization, the tangible and intangible attributes that shape the perception of the product, service or company in the user’s mind.

Cuban MSMEs should (as many self-employed workers did before) understand that the brand is the promise of a benefit for the customer, the guarantee that a certain business gives to the consumer that, by choosing it, he/she will obtain significant advantages. Creating the difference: that seems to be the key, even in a scenario of scarce heterogeneity of products and services.

That Cuban micro, small and medium-sized enterprises recognize the value of the brand for the success of their ventures is the first step to achieve what they all want: to open a market niche, differentiate themselves from the competition, become easily recognizable to their customers and strengthen ties with them. Therefore, it is essential to have a coherent communication strategy that does not generate false expectations, but promotes the real quality of the product or service, which is undoubtedly the cornerstone of success.

In the midst of the COVID-19 pandemic, which affects every area of Cuba’s economic and social life, digital scenarios are where the strategies aimed at positioning MSME brands can be deployed in all their magnitude. Having their own website, a presence on social media, using instant messaging applications, sending e-mail marketing campaigns; it is necessary to exploit all the potential of the Internet in order to conquer the public and bring them as close as possible to the goods and services of each business.

If at any time the importance of proper digital brand management has become evident, it is now, when the coronavirus has worsened the complex economic fabric of the island.

Read more Digital Branding In Cuba

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