If you want people to know about your new startup, you need to create a branding strategy asap. A strong brand can help secure the position of your business in the market, in which will direct customers to your products and eventually establish their loyalty.
However, building a brand that sticks is not an easy task, especially if your startup is relatively new in the industry. Ideally, a brand represents a company’s market identity, which includes your reputation, values you want to deliver, the kind of quality you provide, and more. But how can you effectively develop your startup’s brand? Here are some tips that you might find useful.
Know all your potential audience and analyze their needs
First thing first, you need to have complete understanding of your target market. Think about who you want to experience your brand. To understand this, you will need thorough research because you also have to analyze your audience’s needs. Use as many resources as possible. Social media, for instance, can give you valuable insight into your target market through their daily post or conversations, with the right analytics tool you can generate data from your audience on various open and public social media channels. Also, If possible, the next step would be to conduct a simple survey to determine how your customers perceive your brand.
Learn your competitors’ brands
There are competition in every business industry, especially in the Startup world nowadays. You need to go the extra mile so that your brand can stand out among competitors. Branding is your key differentiator. First, start learning about your competitors’ brands so that you can create your own unique selling point, a special something new that makes your business a little different, may that be part of a service or even just a way you communicate or sell your service and/or product. Find out how the competing brands market their products, for example, what colors do they use in their branding strategy? How is their website, is it more advanced than yours? How do they communicate their message, brand and service? Try finding out how your competitors different from one another.
Remember, this does not mean you can take these qualities and copy them for your own brand. What you need to do is analyze and look at the motivation behind their choices and perhaps you can consider making it as a benchmark, evaluation or even indicator for the next step of your branding process.
Play to your advantages
When you evaluate your competitors, you don’t just get to learn about their brands. In some ways, you also somehow learn about your own brand, strength, weaknesses, and any other differences. At some point, you will realize that your brand must have something that your competitors don’t have. So, ask yourself these questions: what do you do better than the rest? Is your business more versatile in terms of product or services? Do you have a better customer support system? Do you provide cheaper products with the same quality as your competitors’?
Keep looking for something that makes your brand stand out and stick to it.
Sell your stories
Every brand has a different story, and the story alone is what makes your brand unique. But, not every brand can do great storytelling even though it’s an integral part of any branding strategy. Building your story can help you focus on your brand identity and business culture. It’s also a good way for your customers to identify with your brand on a more personal level since it’s supposed to inspire an emotional reaction.
If you are having a hard time creating a branding strategy for your startup, try to imagine your brand as a “person” rather than as a logo for example. If your startup were a person, what type of person would it be? Elaborate your answer and you may come up with a better feel for your brand. As we’ve explained above, it also helps to have a benchmark from business who have done it before along with some well harnessed data regarding brand perception and acceptance of your audience.