In most cases, startups tend to take a product-first approach when they get started. One thing that’s left behind is branding.
It is vital that any startup ensures that they offer high-quality services and products, but equally, they should give emphasis to their brand. A startup should research its target audience, set ways to define it and create a brand identity that fits the research. This then allows their target audience to see the benefits they reap from this service and/or product.
Let’s dive in to define what branding is before we go into why it is essential.
You can think of a brand Just like a person, a brand has an identity, values, tone of voice, story, character, personality, attitude, soul, and even beliefs.
During the process of branding, the startup business will create a name, symbol, or design that differentiates and identifies that company’s product from other similar products.
Startups often have a name and logo ready, even before the business take-off. But there is much more to branding than just a name and logo.
Let’s take a look at why branding is necessary for new businesses and how they can brand it
Branding and why it’s so important for startups.
Branding gives your startup a unique identity.
Having a brand helps you stand out from your competitors. Creating an exclusive brand name increases your likelihood of getting trusted and loyal customers.
Branding creates awareness. It enables your clients to grasp which gaps you are filling in the market and how they can gain from this. Establishing a niche for your brand and startup helps in identifying your unique selling point. This makes it clearer for your clients to understand your proposition.
Branding puts you in the market for the long term
By having a reputable brand name, you scream to your audience and competitors that you are here to stay. Creating client awareness is key, and over time, your audience will remember your startup due to your brand.
Maintaining long-term retainers is key to your business. That requires consistency and communication. Communication is a form of branding called the tone of voice. By using different social channels to reach out to your target audience, your use of words should also reflect your brand to ensure recognition.
Some steps you can take to ensure your brand thrives in the long term are as follows.
A good brand makes clients familiar with your product or service. Clients prefer to engage with businesses that are trustworthy and familiar.
Building trust is key in your branding. Once the trust is built, and your clients are satisfied, you’ll see the retention rates rise as you keep fulfilling your client requirements.
Satisfaction equals referrals. Referrals equal more clients. Word of mouth is a strong marketing tool, hence having happy clients is the best way to get new business in.
Increases job satisfaction for employees
Anyone who works for a startup brand that has some recognition are liking to show their willingness to work, ensuring company success. Reputation in branding also creates good self-esteem for employees and suggests sustenance. Therefore, good branding ensures employee satisfaction.
Charge your worth
In early-stage startups, traction is key. Getting your first client can be difficult and some businesses would take anything, even if its pricing is competitive at first.
Having a well-established brand ensures your client sees you as more professional, and thus you have the ability to charge more competitively. Looking professional, and providing high-quality products and/or services, enables you to charge appropriately with regard to your clients, and hence their willingness to pay will not be questioned.
Having an efficient branding strategy helps startups differentiate themselves from the saturated market. Having a good branding strategy puts them in a pole position.
Know your target audience and market
Rule number one at Fight Club – branding. Understand your audience. All aspects of your brand strategy should target your clients and make connections with them.
Tell your story well. Don’t expect clients to recognize you at first site when you’re just getting started. Storytelling is part of your branding strategy. Make yourself memorable, visible, and relatable.
Keep refining your image and copy
Your tone of voice and messaging should be well thought out and succinct. Always include your name, image, and company vision, and refine your messaging. At a glance, these points may seem secondary but they’re in full support of your brand strategy.
Max out your visibility
Use all your social media channels to market yourself. Reach your target audience and coordinated messages. Ensure all your content matches your website and brand image. If you’re wondering how, read our latest digital marketing strategy insight.
Our branding guidelines are ways of consulting you to make the best decisions to reach your target audience. A thought-out brand strategy can go a long way to ensure trust, loyalty, and reliability for your business. Giving yourself an identity increases customer retention. Do it right. Ensure your success.
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