Why Branding is Important for Early Stage Startups
Startup firms are often built on a great idea and an entrepreneur’s passion. The company usually spends time and money on getting the technology right, which means that branding is often an afterthought. But branding is crucial to any company’s success, especially a start-up. It’s hard to get people to even try the product without a good, trustworthy and transparent branding.
And branding goes far beyond putting on a logo or creating a good website.
Brands such as Apple, Google and Amazon are some of the world’s most valuable brand names. In order to adapt to their business, their approach to their personality, look and sound has changed over the years.
What makes the product distinctive and separates it from rivals is your brand identity. You distinguish it from other brands by giving your brand a personality, a distinct image, and a unique voice.
Treat your startup as a brand from day one:
What do you think when you hear the name Apple? Perhaps their well-known logo or ringtone music from well-known television ads or just a half-eaten apple logo. All these things are the name of the brand Apple. The marketing strategy of Apple is carefully considered, taking everything from typography to colour palette and logo design into account.
As you can see from the example of Apple, brand identity is essential to make your product a leader in its field.
Now you might say that Apple is a trillion-dollar brand. How can you compare that to our early-stage startup?
The answer is simple yet deep- Rome was not built in a day! You need to treat your startup as a brand from day one. If you cannot see it as a brand from its initial days, how can you expect common people to treat it in the same manner?
To Know More: 5 Tips to Survive as a Vulnerable Early Stage Startup
Why Opinion Matters in this Digital Age:
Opinions are no longer conveyed by traditional media like television, radio, or newspapers, etc. Today, on social media platforms like Facebook and Twitter, people form opinions based on the “likes” and “comments.” In addition to this, influencer marketing has become the next big thing.
It’s important for a startup like you to create a strong brand image that fosters your customers’ trust and loyalty on social media. Your target audience is no longer sitting in front of a TV anymore and bad opinions travel even faster than a viral meme. Beware!
Research your competitors and be Consistent:
Research and dig deep into the thoughts incorporated into the brand by your opponents. How do these brands vary from yours? What’s going to work? What isn’t that? This little bit of investigation role will help you build your brand as you are able to take important key features and incorporate them into your product.
When you have selected the correct branding for your small business startup, it is now time to use it to your advantage. Align your marketing plan and incorporate it into each of your promotions around your promotional material. The more powerful you can make your business branding visible and reachable, the greater the impact it will have on your customer base.
To Know More: 5 Sure Shot Strategies To Build Brand Loyalty
Branding Gives Organic Returns for a Long Time:
Products tend to change, transitioning teams and shifting customers on the journey. But the essence of the product remains a constant once a brand has been developed and everything settles around it. A clear brand strategy provides the team with clarity and a roadmap to success and how to achieve the goals of the organizations. The development of a brand thus far outweighs the sole aim of gaining market share and organically benefits an organization.
Possessing a name that reflects the initial sense of your company startup will eliminate telltale signs about your organization and the services and products you offer. It can provide a very clear definition of who you are as a company and be sure to create a follow-up right out of the gate with your customers.
Start treating your startup as a brand from today itself!
5 Hand-picked Financial tips for the early stage Entrepreneurs