5 Tips to Create a Solid Brand Identity for Your Startup
Too many startups don’t appreciate the importance of having a strong, consistent brand. According to a recent study by McKinsey and Company, companies with solid branding are 20% more successful.
If you are still developing your brand, you should follow these guidelines.
Keep it simple
Too many companies try to be overly sophisticated to impress their followers. This may boost your ego, but it does a little for the long-term success of your brand identity.
It is better to build your brand around a very clear, simple message. Brandablehq says your customers should be able to describe your brand in 20 words or less.
You should simplify your brand with everything you do. All of your written messages should be as clear as possible.
You should also have a very minimalistic logo. Coca-Cola has been using pretty much the same logo for nearly 130 years. It only has a couple of colors and a simple graphic, which is one of the reasons it is one of the most memorable logos in the world.
A recent study from Siegel+Gale shows that some of the most successful brands are also the simplest. They ranked Netflix and Google as the two simplest brands in the eyes of consumers. Those brands also tend to be two of the most popular.
Build your brand around your customers, not the other way around
Too many companies put the cart before the horse by establishing their brand image before identifying their target customers. After they have built their brand identity, they try to pursue customers that resonate with it.
The problem with this approach is that you don’t know whether your target market is strong enough to create a profitable business model off of. Would it make more sense for a brand in an older community in Florida to target 16 year old kids with no discretionary income?
Instead, they should begin with their market research. Once they have identified a strong market, they can build a brand around it.
Decide how you will offer value
While you may have a revolutionary product, most brands do not have that luxury. Even innovative brands like Photolemur compete by distinguishing themselves in the market in other ways.
There are many ways you can differentiate your brand from competitors. You can focus on providing a low-price point, delivering the timeliest service, personalizing your solutions to each customer and offering more comprehensive service packages.
Don’t try to be all things to all customers. Identify one or two value propositions that set your brand apart from others.
Decide what emotions are appropriate for your brand
Many brands try to engage with their customers through humor on social media in traditional advertising outlets. Some brands have been very successful in industries where it wouldn’t be expected. For example, Geico has been running very amusing commercials for nearly 20 years. This has obviously been effective for them, because they are the nation’s second largest auto insurer.
However, humor and vibrant emotions are not appropriate for all brands. You must decide whether they resonate with your customers first.
Establishing a Brand Identity Does Not Need to Be Hard
A strong brand identity is the pillar of your company. You must develop come up with it before opening your company’s doors.
Fortunately, it doesn’t need to be difficult. You just need to find something that resonates with your target customers and promote it consistently.