The Benefits of Branding for Startups
Wednesday, December 2nd, 2020
Brand awareness and recognition are essential to your business. Your brand identity and visual style should work across all print and digital touchpoints from internal brand communications to website design and social media messaging.
The main importance of branding for startups is that it helps the business in creating its own unique identity. Before we get into the technicalities of brand identity design, first let’s look at what a brand does and the misconceptions surrounding it. Your brand isn’t just limited to the logo that you design to represent your startup, it revolves around the organisation as a whole which includes products, work ethics, quality of customer services and many other factors that make up your organisation. In short, your brand is the face of your start up. Realise the power of branding.
With the advancements in technology, everything has become more convenient but the competition, on the other hand, has intensified. This means new promotional strategies and more options for customers. Now let’s look at a few reasons why it’s so important to do branding for startups and how it’s a game changer for your business.
Why is branding for startups a crucial element?
More often than not, entrepreneurs tend to ignore the relevance of branding for startups and dive head-first into the commercial and financial aspects of running a business. This could be highly detrimental in the long-run and could hinder the overall progress of your business. As discussed earlier, your brand is more than just the logo, it’s inclusive of the thought process, research and the ideas that have been poured into the final product. Therefore, it’s crucial to put forward a strong brand image to attract potential customers and establish yourself as a strong player in the game. A clear strategy is vital in branding for startups as it sets a vision and establishes a goal that the business tends to follow in the future. With the right branding, the progress of your startup could escalate at a fast pace.
Pre-launch branding for startups helps in creating a hype for your product and shows that you’ve prepared yourself, instead of just emerging out of the blue. Having a brand can create a unique image for your startup, regardless of whether the product you’re producing is unique or not. The right branding creates a butterfly effect. It starts of by creating good will for your brand which could have a significant impact on your consumer base. A satisfied and loyal consumer base could then have the added advantage of your brand being promoted by word-of-mouth through customers.
Branding and Trends
With the surge in competition, staying on top of social media trends is an effective marketing strategy. However, becoming a trend setter requires strong branding. The right branding will get people to start talking about your brand and create a buzz over social media which will help your startup in gaining popularity at a more aggressive speed.
Even though your competitors might be offering the same product but if you’ve applied the right techniques for your startup’s branding, then customers will automatically lean towards your brand and find your products more credible. Past trends leave an imprint in the minds of your customers and if resurrected, they could gain an immense amount of popularity.
The Impact on Customers
The underlying purpose of all startups is to maximize their customer reach. By doing the right marketing for your brand, you could have an emotional and rational impact in your customers’ mind which will in turn motivate them to promote and engage in your startup. One thing that ensures the success of any startup is customer loyalty. This happens to intertwine with one of the most important features of branding for startups. You need to promote an image that shows you value your customers and prioritize their needs and wants. This will in turn build credibility for your startup and attract people towards your products and services.
Branding will make your product stand out. If a customer is in the supermarket and he sees an aisle which is filled with a sea of the same type of product, it’s highly likely that they will opt for the product that they can associate with a brand.
In short, the whole idea behind branding for startups is to highlight your presence in the market, put you on the front lines as a strong competitor and give an insight into the core values behind your startup. If you’re an entrepreneur and you’re worried about the progress of your startup, then there is a high probability that you’ve missed out on proper branding and you should take this as a sign to shift your focus towards branding.