Branding for start ups might not be the first thing on their list. If you you’re a start up you might be thinking about the cost of everything as a start up. Or want to get started on as little as little expense as possible – that is completely understandable! You might even think you’re not at the right point to for Branding. Here’s five reasons why as a start up you are at the perfect point to look at your Brand, the strategy behind it, and how you show up for your customers.
It should set you apart from the competition
This is one of the reason why as a start up, it’s the perfect time to work on your Brand. Working out your positioning within the market from the off you can give yourself the best start. It might be you want to go toe to toe with a competitor but, you still have to stand out against them. What set’s you apart? There are big businesses who don’t try to be first to market, they try to be the best in the market, learning from their competitors mistakes. There are loads of ways you can stand out from your competition.
- Value Point
- Meaningful Selling Point
- Unique Selling Point
- Cater to a niche
It’s easier to get funding
So you’re looking for investment in your new idea. Courting Angels, or promoting the next Unicorn. Well, having a clear Brand not only gives customers something to latch onto, it will also give those investors something to hold onto too. Branding for start ups is about curating what “they” think about you. You want to make yourself the obvious choice to your customers – which in turn, will make you a sound investment.
You won’t waste your marketing budget
By standing out more, and creating a connection with your customers, you won’t have to spend as much on marketing. Your Brand will work to create a shortcut in the minds of your customers. So that campaign you run is going to be that much more effective. Cost of acquisition is a good measure of marketing campaigns – with a good brand you should see this reduce as the brand takes some of the weight of winning customers, you can also increase the chances of return customers.
You become the obvious choice.
It helps make selling easier
So, you stand out more, and resonate with your customers more. What does that mean? More sales. Branding lays the foundation for your business to have success. By creating a clear idea of who you are, what you do, who for, and why it matters – and making that stand out in the market you make all the other processes down the line easier – all the way through to that important sale. And as I said before, you become the obvious choice.
This happened to me recently. I needed a new laptop. I’d run my Macbook into the ground, updated and upgraded as much as I could, but, 12 years later, it had had enough. I’d heard about the Framework laptop. A high spec laptop that was made to be repaired and upgraded. Framework is modular, and a newcomer to the market with the aim of reducing electronic waste.
It resonated with me and fit what I needed. For the first time in over a decade – I have moved away from Apple. It’s no longer the rebellious upstart. It’s closed ecosystem that hindered exploration and participation (repair and upgrade) felt stifling.
So I’m now typing this on my new Framework computer. The shortcut was created months ago. The sale became sure, it had become the obvious choice for me.
You’ll attract better employees
Branding is internal as much as external – the internal culture of you company has to live and breathe your Brand. Your employees are your first customers. If your Brand resonates and looks after them, as well as your customers, you’ll be able to attract the best talent that will further enhance your Brand. A Brand that everyone aligns with, from those within the organisation to your customers creates a sense of belonging and purpose for everyone.
Branding is a long term investment for your start up
Creating a strong brand is always an investment, but branding for start ups is one of the best things you can do to set off on the right track. Laying the foundation of your Brand can help you stand out, get funding, reduce costs, increase sales and attract better talent. So what’s holding you back?
Book a discovery call today to see how Branding can help your company