What differentiates great companies from good companies?
Of course there are many aspects that one would point out and Branding is only one of them. But ask this question in case of start ups, How a start up differentiates itself from others, there is only one answer – Branding. Experts agree that branding is crucial, instrumental and decisive for start ups. It is crucial not only for the establishment of the business but also for its growth. As they say ‘Well Begun is Half Done’, in corporate industry it becomes ‘Well Branded is Well Established’.
In every domain effective strategies and implementation is the key to success. Branding is one domain where great companies spend time and money to achieve the exactness they require. Branding is the first impression of your company in the minds of your customers, clients and others. This impression precedes your work. So to say that your work will speak for itself will not always be a reliable statement. So no matter how good your work will be, it will not reach people unless it is branded well. Here are some 7 Top branding strategies that you have been doing wrong
Why Branding is all the more Important for Start Ups?
In all business avenues, accomplished companies are always few in numbers. While there will always be a host of start-ups emerging every year. A new company has to stand out in this crowd, become known and develop his own unique identity. This will obviously not happen in a day. Branding is the first stone laid to achieve this end. Start ups need to establish the identity of their brand. Branding establishes your uniqueness and individuality. Your branding should be fresh, appealing and instrumental in initiating a relationship with your customers. Over the years, this will be the identity that not only your customers but competitors too will define your company by. Here are some 10 reasons why branding is even more important for start-ups
Branding is not Marketing Itself
“Branding is nothing but marketing.” Really? This is a misconception that pervades amongst start ups. Branding and marketing together are like a ‘double decker vehicle’ that will drive your company. Your brand is what you are and marketing are the tools that takes it to the customers. Your marketing strategies will be defined by your branding itself.
Branding is Associating Ideas with Your Company
The concept of branding is nothing but association. When we think of accomplished brands like Parker, Woodland, Nike we associate them with high price, high quality material, successful people and social status. This association is the very essence of branding. With what qualities will your brand associate itself? What are the things that the customers will recall when they think of your Brand. The processes and techniques of branding work with the agenda to bring powerful associations with your company. You can check out Why Strong Branding is Crucial for Start-Us here.
How to plan your branding strategies?
The “What”, “ Why” and “ How” of branding are answered by the aims of branding. Your goals should be well defined in order to have a well defined brand. Consider your goals and plan your strategies accordingly. The following will help you for the same.
Define Mission: It is your driving force behind the creation of the company. It is the motto that you wish your employees should keep in mind.
Define Vision: It is how you see your company’s standing in future. Your vision should be contagious. For every start up, the vision is growth. But growing in the right way with the right ethics is important.
Define your values and work ethics: They are nothing but the ethics and principles you want to establish for people working in and with your company.
Define your identity: How does your company stand out in the crowd? The special thing that your product offers apart from the common ones is your brand’s identity.
The Big Sixes in Branding
So as already said, Branding will be your communication with the customers. This communication will constitute mainly – the visual experience (your logo and packaging) and the voice (taglines or other messages). Sometimes it also includes information like “since 1850” saying that it is a legendary brand and sometimes it says “finger licking good” which means it tells about what it offers. This all in all is the customer’s experience with your brand even before he tries it. So we have ‘The Big Sixes in Branding’ funda for the perfect branding for start ups.
1. Keep it Simple
Branding should create simple associations in the mind of customers. Your brand should attract customers as well as clients. Your brand should be easily marketable. It should drive sales easily. Customer will buy a product that creates simple associations in his mind. In marketing, simple is strong.
2. Keen Eye on Components
As said earlier, your brand will represent itself through logos, voice and overall packaging. Do not leave any stone unturned in developing each of these components.
3. Track New Trends
Even established brands renew their strategies and marketing plans according to the changing demands of the market. Every year there are new marketing tools developing and new avenues for advertising are opening up. So start ups are all the over requiring of an effective branding to gain a standing in the crowd of companies.
4. Who is the Target Customer
Whom does your product deal with? Children, Women, Men or the elderly? Your branding strategy should be created keeping the target customer in mind.
5. Longevity and Vision
Brand has to with stand future competition too. So create branding strategies that will endure market changes.
6. Track the Best in the Business
Keep an eye on the emerging brands in all fields. By observing itself, you can plan your branding. Do research on the established brands and how they strive to maintain their position. Marketing strategies, endorsements and promotions of the big brands are marketing lessons for start ups.
Yes. Think as the customer. If you are a customer in the crowd of brands, why would you buy this product?
Will your brand help him up his social status?
Will your brand provide him durability and quality?
Is it the “IN” thing presently?
Was the customer satisfied the last time he used your product?
The desirable answer to all these questions is YES. This “yes” has to be strengthened with a strong branding. The customer will buy your product and will also recommend it to others. That is where your branding achieves its end.
To stand out in the crowd of newbies requires great planning. Yet there are start ups that gained foot hold in market within a short period. The reason is they had a strong branding and they backed it up with great service. Once a customer buys your product, the next time he sees it in the market, he recalls the previous experience. So branding is just the first impression. Real solid experience should back your brand. Good branding means increased chance of your product’s sales, being recommended and being known.
Popcorn media is one of the leading branding companies in Cochin. We have successfully helped a number of businesses to acquire a face amidst their audience through their brand image. Our team of staff is experts at creating brand images that are easily associable to a business and their activities. For more details, contact us today.