Starting a business is never easy. Besides the many requirements that you have to comply with, you also need to build your own brand identity, image, messaging, and so on. If you fail to do all these, then your startup would not even fly in the first place.
So to help you build your own brand, we have listed a few tips that you should take note of.
Create and Stick to your Initial Budget
Seeing as you are still new in the industry, you should not blow your budget too much on branding. Because as much as it is important, there are still other things that you should focus on and direct your resources on. Remember that no matter how great your branding is, you still need money to keep going and stay your business afloat.
That said, before you start branding your startup, you should create an initial budget first. This way, you would not get too carried away with spending too much on logo designs, launch parties, collaterals, and so on.
There have been many cases wherein startups allotted way too much of their budget on branding. So to avoid this scenario, you should create and stick to your initial budget as much as you can.
You can do this by focusing on the most important matters. For example, since you are still building a name and reputation for your business, then you can direct your resources on hiring brand ambassadors or your overall branding team first. Finding the right people for your team can save you tons of money because you can all brainstorm ideas for the overall image of your brand.
Look at Your Competitors
As much as we want to tell you that creating your own unique identity from scratch is the best way to go, you still have to remember that you are still new in the industry and you still do not have many resources to work on. Maybe in time, once you finally acquire more customers for your business, only then can you start experimenting and building your own brand.
But, given that you are still starting, it might be much more productive and effective if you would look at your competitors as your baseline. This, however, does not mean that you should entirely copy what they are doing and try to replicate it for your brand.
Looking at your competitors simply means you are using them as a base reference. Since their current customers are the same as your target audience, you might learn a thing or two about what your target audience likes or dislikes. And with this information, you can brand your own startup in a way that they like. Doing this would surely make them more curious about your brand and what you have to offer.
Focus on Leads
Always remember that you cannot convert a potential customer if they do not know you. That said, you should focus on acquiring more leads and increasing your brand awareness first before you think about converting them into buying customers.
So once you start branding your startup, focus on maximizing your reach. You can do this by making your brand more palpable and appealing to a larger group of audience.
For example, rather than simply opt for a much more targeted brand messaging like “new moms with varicose veins”, you can instead target audiences such as “moms with varicose veins.” Although the changes are subtle, it still makes a big difference in brand messaging. The former only talks to moms who experience varicose veins after childbirth, while the latter talks to all moms who experience varicose veins at any point in their life.
The more audience you reach, the better.
Remember Who Your Real Customers Are
Going back to the example above, new moms and moms may be a different group of audience but your real customers are people with varicose veins.
So no matter how your perspective, target, or brand messaging change, always remember who your real customers are.
Because at the end of the day, the main objective of your startup is to gain more clients. Your brand is just one of the aspects that supercharge you to achieve this goal.