Setting-up a start-up, especially online, needs attention to a lot of details, branding included. The enthusiasm of a new beginning is indispensable for a new endeavour but can put some important things in the blind spot. There are DO’s and DON’Ts, things to look up for or things to avoid. While there are no definite rules or sometimes is worth breaking some of them, here are some notes you should take in consideration before you “go out” to the real world.
7 To Do’s for Startup Branding
Define yourself and your product
Before you go out to your customers be specific and honest regarding your purpose. What are you going to provide? Clearly define your product/service in detail. Think what are the benefits for the potential customer, what’s the need that you cover. Continue reading
Brand equity is that incremental value that accrues to a product when it is branded. Simple brand awareness is one source of brand equity. If you can get your name to pop up in people’s minds when they think of the product category, you’ve won a big part of the battle.
[There are] two other sources of brand equity: a consumer’s perception that a brand is better than it really is (“attribute-based” equity), and nonattribute-based equity, for instance, a consumer’s preference for a brand based on the cachet of owning it. If you’re successful in these three aspects, an added benefit is that stores will feel a customer pull to carry your product, and so your availability and hence sales will increase.
Simple awareness ”getting the brand’s name to pop up in consumers’ minds”generates the largest return, followed by consumers’ responding to the cachet of owning the brand (nonattribute-based equity). Attribute-based equity trails in third place. This means that a brand’s image provides a stronger incentive for buying even than the perception that it is a better product. But greater awareness of your brand is the major component driving brand equity.
These are some extracts out of an interesting study with the title Calculating the Dollar Value of Brand Equity made by V.Seenu Srinivasan Professor of Management at Stanford Graduate School of Business along with Chan Su Park of Korea University Business School and Dae Ryun Chang Yonsei Business School. Read more about the study here.
Successful brands are built on the twin foundations of awareness and relevance. If target audiences are not aware of you; if they don’t notice your message in the cacophony of messages they receive each day, then you will never have a chance to be relevant. And if they become aware of you—if you capture their attention—and fail to deliver relevance,then they will learn to ignore you. The seven-steps branding strategy outlined here will help provide the structure you need to assess and develop relevance and create awareness.
Employees, like consumers, are bombarded all day by information. Brands are a way by which we identify our priorities. Consumer brands help us simplify our lives and streamline our selection-making. Internal brands enable us to prioritize our most precious resource: time.
By linking your corporate brand to your culture and values – thereby creating an [tag]internal brand[/tag] – your organization can create a platform from which to communicate to your employees the vision, mission and urgency. Internal branding helps improve credibility and strengthens the bonds of trust between leaders and employees. When people are united in purpose and know where they are headed, positive results can occur.