20 Jul Basic Branding Tips for Startups
Startups have a unique set of challenges that differ from businesses that have been at it for a while. Startups, while full of passion, drive and energy often times don’t have the time or the extra money to invest into branding.
Branding your business early is wise to immediately build brand equity that you can leverage later on. But it can be daunting if you don’t know how to make your limited funds and limited time work for you in the most efficient way.
Here are some basic branding tips for startups that can help you at least get started on branding your business.
What is Branding?
Branding is more than just your logo. Avoid check the box marketing where you just go down a proverbial list of must haves such as your logo, your website, and business cards. While these things are important there is something that should be done before you even tackle these projects.
And the good thing is they don’t cost you any money!
The Business Dictionary defines branding as:
The process involved in creating a unique name and image for a product in the consumers’ mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.
So take the time to think deeply about the image that you want your business to take on in the minds of your customers. Clearly identify what is special about your business and what unique value do you bring to the table when you are engaged in a project.
What are the Benefits of a Good Branding Strategy?
- Brand design grabs potential buyers’ attention.
- Branding has a direct impact on the prices you can charge for your product/services.
- A strong brand faces less direct competition.
- Your brand influences repeat buying behavior when it becomes the safe choice.
- Brands can influence other business operations like talent. acquisition, partnerships, investments in the company, and more. favorable terms from vendors – people want to work with the best brands, right?
What Should You Keep in Mind When Developing a Brand?
Make it Remarkable.
Make sure that your brand is remarkable. If you play it too safe with your brand your are playing a high risk game of not standing out.
They will immediately communicate a different feel from your competition and make you memorable.
What is Your Value Proposition?
We know. It’s customer Service. The problem is that everyone feels that this is their value proposition. We dare you to dig deep and discover what really makes you stand out. Consumers expect great customer service what can you give them that they don’t expect?
Look at it this way. If your customers saw your value proposition next to your top five competitors would they call it remarkable or would it just blend in?
All of your collateral and communication channels need to have a consistent voice. If your brochure, flyers and business cards all communicate different messages that will confuse your target audience and rob you of potential brand equity.
If you would like some help with developing a brand that is remarkable contact us for a free brand consultation. We love helping businesses tell their stories in a compelling way.