Sunday, June 30, 2013

How Branding can help your startup

I can bucket a startup entrepreneur into either of 2 buckets – one – Branding-is-for-Biggies! and second  who believe -Branding-is-important-after-Series-A-funding”. And first bucket is full till the brim.
Let me start with a simple question with a possibly simple answer -

What is Branding? – It’s a determination of how well do you understand your consumer.  Nothing more and nothing less.

Take The Times Square Branding Task – What will be 4 words which you will put when you advertise there?
Often the startup founders fuss about the color in the brochures, font not looking or texture not looking aspirational. it is always when they have NOT understood their own brand or not spent time in understanding their consumers and their likes and dislikes.
Branding is a very powerful tool and it can help boost your startup from Day 1 – here is how -
1. Makes you think and think hard on who you are talking to – who you are NOT talking to.
Consider this –
Dialogue 1 – I want to start an online ecommerce company for women in India.
Dialogue 2 – I want to start an online ecommerce company for women who love to buy M·A·C Cosmetics and have time crunch and hence will go online to buy – Women of age group between 21 to 45 , probably working professionals.
Which one made more sense to you?
2. Branding brings Loyalty –
Branding brings consistency in experience to consumers and alleviates the fear  - for e.g. “I hope I get my pizza on time” for Dominos. They have branded themselves as pizza chain which brings great food in time for your hunger.
Same color, same fonts, same feel will always help a consumer to avoid worrying of experience and just use your brand again and again.
Read further here
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