4 Key Branding Challenges Facing Startups
Below I have listed out four key branding challenges of many startups. Before you skip over to see what the challenges are, answer honestly these basic questions. How do you sell your business services to potential customers? How can they differentiate your services from that of your competitors? Branding is just as important for small businesses as it is for big names. It’s one of the most important aspects of any business growth. Your brand tells potential customers what to expect and it also tells them more about you. Simply put, your brand is your promise to your customer.
What is a brand?
BrickMarketing.com defined a brand as “the idea or image of a specific product or service that consumers connect with, by identifying the name, logo, slogan, or design of the company who owns the idea or image”. Branding therefore, is when that idea or image is marketed so that it is recognizable by more and more people, and identified with a certain service or product when there are many other companies offering the same service or product. Branding is also a way to build an important company asset — good reputation.
Steps to branding
- Design a good logo that is easy to understand.
- Make your brand message simple and short.
- write a statement for your company that points to your brand.
- Develop a tagline for your brand — a short phrase/motto
- Design templates for your marketing and sales.
- Uphold your brand.
- Get feedback on your brand.
- Be consistent.
This is the most talked about branding challenges. Maybe because it’s diversified. In this digital generation with advance in technologies, social media and a whole lot of audiences, the marketplace now covers the entire world. This makes businesses lodged with the onus of creating a strong brand that can compete with every other brands in the same environment of business. Your brand may appeal to one marketplace, while it may look vague or unattractive to another market.
Your brand should be both internally and externally inspirational. By internal inspiration, it means your employees and partners needs to be well acquainted with the brand for effective participation and excellence. Building the strategy for a brand needs to incorporate trends such as digital marketing, programmatic advertising, and cross channel marketing. Integrate your brand with active partners. Example is what Avon did with their Walk for Breast Cancer.
A brand should be feasible to and simple to implement. It has to resonate with potential customers and equally inspire employees. But brand visions that work are usually multidimensional and adaptable to different contexts. It requires sophisticated brand-building programs which employ concepts such as brand personality, organizational values, and high purpose.
Whether you like it or not, customers are in control of your brand. They are the primary consumers and so they give feedback on a business brand. The reality here is that not every customer will find your brand fitting to their desire thereby saddling you with the job of making your brand more pleasing to everyone of them. Also, creating a brand that is suppose to serve a short term financial goals for long term goals with your customers, may jeopardize your business thereby leading to failure in a competitive market.