I know several entrepreneurs who believe branding is not a priority for a start-up company.
I say, NOT TRUE.
And they think the process of branding is too expensive for a small company.
Again I say, NOT TRUE
Branding is especially vital for a start up. Communicating why market members should investigate and then buy from a new company requires that company to stand out and above competitors because most folks won’t move from their existing buying patterns unless the new business offers value and/or improvements. Branding is a way to overcome inertia and communicates value.
Now branding is more than a name, logo and tagline. It’s the representation of the company in activities, including the conduct of employees, customer service convenience and courtesy, consumer-oriented policies and guarantees, and many more factors that need to be designed and implemented cohesively.
Does that take a lot of money?
No, it takes a strong position on the part of management to differentiate the company from competitors in positive ways. It takes an integrated plan, all pointed to fulfilling the brand’s promise. The video below reenforces that statement and succinctly describes the basics of branding.
As far as the branding elements such as name and logo, they should be unique, memorable and aligned with the brand promise. And they should be created for the long-term. It’s an investment in the future of the business, not a one-time expense like desks and chairs.
Speaking of desks and chairs and the like, most business start-ups will budget for them but not for branding expenses. Yet branding is at least as impotent. There;s plenty of help on-line and off that’s relatively inexpensive.
You might start by contacting a local University’s marketing department to do your branding through class projects or find an intern through them. There are sources on the Internet that conduct “contests” for names or logos for which you pay a modest amount to the “winner” that you pick. And you could contract with a free lancer through one of the many Internet services who connect you with a free-lancer willing to do the work for minimum amount you dictate.
Another way, and I believe the best way in terms of long-term value, is to contact Signature Strategies. That way, you receive expert help and deliverables at very reasonable prices.
Establishing a solid and meaningful brand first also speeds financing, establishing distribution, attracting good employees and building a customer base. That brand can “grease the skids” to early profitability.