Why is branding important for startups?
Great branding is at the heart of all great businesses. What do companies like Virgin, Apple and Coca Cola have in common? They don’t just have great products. They all have very strong brands which enable them to present themselves to the right audience at the right time.
But how does this relate to startup businesses? Because so many small and startup businesses do not invest in great branding, there are big gains to be made by those who do.
1. Identify yourself!
In a crowded marketplace there is a lot of noise and visual clutter. Startups face many challenges and the brand should not be one of them. Your brand needs to not only represent your business, but it also needs to stand out from the crowd and capture the attention of potential customers.
Creating a strong brand means you get a head start on becoming the Innocent, Google or Easyjet of your sector.
And as a potential customer of an unknown business, which would you choose (not considering quality or price) - the business that looks the part, or the one which has bad design, looks cheap or doesn’t communicate its offer well?
2. Branding - it’s a question of trust.
Customers are more likely to choose a company with professional, consistent branding. The right branding, can make customers feel like you’re a leader within your industry, creating trust and loyalty.
3. A strong brand gives you direction.
Once your startup brand is established, it will help you to make important decisions about your business’ future. It will set the standard and give clear direction for all your marketing and customer communications.
From colours and imagery, to the tone of voice used, your brand is the foundation on which all your communications are built.
4. Your brand offers focus.
It’s not just customers and prospects that need to understand what your business is trying to do. Employees too benefit from your brand, making it easier to ensure that they are all ‘working on the same page’.
5. A good brand is memorable.
Think of your favourite brands. Or even ones you don’t like - I’m sure you can think of many that are in different areas of business, products and services. Chances are, they all have effective branding.
You know what their logos look like, what their colours are, how they ‘speak’ to you. There’s a psychology behind the colours and design to make them leave an indelible impression on their audience.
6. Branding gives you wings.
Having the right brand can really make your business fly. With an ‘OK’ brand, if your product or service is great, you can certainly make a success of things.
But with a great brand, one that communicates your offer in a relevant and distinctive way to your audience, the sky really is the limit.
7. A brand of distinction.
No business is completely unique. As a startup you will have competitors. You need to stand out out from them, but sometimes you also need to align yourself with them to a degree.
We’ve all noticed some similarities between washing powder brands, or estate agents, or pretty much any category of business or product. It’s called category language, and you need to know where your business should sit within the marketplace.
Brand strategy will define this and help create the brief to develop a strong brand that is right for your business.
8. Motivate your employees.
There are many internal benefits to a strong brand too.
As a startup, when you’re recruiting, having a unique and memorable brand helps to attract quality employees.
And if employees feel proud of a brand, they are going to perform better. We have seen some amazing results from our clients’ teams having a great new ‘flag to rally under’.
9. A strong brand can increase company value.
So we have seen how the right branding can help you attract more customers and increase your conversions in the short-term. However, there are also some real long-term gains available.
A strong brand that exudes trust and authority in a given industry creates extra goodwill. It’s hard to put a price on it, but the right branding adds a value greater than the sum of its parts.
10. Let’s make things beautiful.
All of the above points are important in creating a brand for your startup business. But we never forget the importance of creating something beautiful. Something visually pleasing. A brand that excites us as well as our clients.
We are all surrounded by so much bad design and visual clutter every day. It’s a privilege to be able to create a little beauty each day in our work for our clients.
The Modern Agency specialises in working with startups to establish an effective and clear branding strategy, and then develop and implement the brand across all touchpoints. Contact us to find out more.