Branding Trends for Start-ups that are Having Success
- June 7, 2020
- Posted by: IDMG
- Categories: Digital Transformation, Strategy & Consulting
Research indicates that interactivity, personalization, and abstract design should be kept at the forefront of our digital minds during the branding process for start-ups.
Within this article, we will be focusing on how to utilize the internet to create and grow your brand. More specifically, on creating customers who spend more than 300% or more with your brand.
Let’s think about Brand Equity for a moment, the standard definition refers to a value premium that a company generates from a product with a recognizable name when compared to a generic equivalent. Companies can create brand equity for their products by making them memorable, easily recognizable, and superior in quality and reliability.
Branding is the process by which you create a name, logo, symbol, and personality to represent your product or service. Branding is something that becomes more valuable when customers associate high value and overall quality with your products and services, essentially your brand.
This is a vital step because it creates a memorable experience and leaves an impression or imprint on your brain which helps establish awareness and long-term loyalty to your brand.
It also creates a consistent image and representation of who you are in the digital world and marketplace, so customers can know what to expect, as their satisfaction is based on meeting or exceeding their expectations. So, creating a stable and sustainable positive image is essential to long term success. Often start-ups spend so much time on building the products that they neglect the importance of branding. We understand this is a process that may seem daunting but consistency with a few simple steps can really help your overall brand success.
Step 1 – Establish your Brand Identity
What is your value proposition, and how are you going to position yourself so your customers purchase your product or service?
You should be able to state in a clear and concise manner what value you bring to the table, so ask yourself what is the number one reason customers will buy what we offer and position your brand around that answer.
Step 2 – What is the look and feel of your brand
Part of your brand identity involves the representation of it, so what is the logo, colors, font type, and other design aspects of your visuals?
Research shows that color is a critical aspect of branding.
In fact, between 62 and 90 percent of the perception a customer obtains is from and based on color. Let’s take a deeper look, for example, red represents love, passion, power, and energy.
Whereas green represents and amplifies nature, health, fertility, and good fortune or luck. These are culturally based and keeping color consistent throughout your website and all social media channels will allow for and help customers associate these feelings with your brand.
Fonts and logos create emotions, the most important thing to remember is readability and accessibility. Sometimes creativity can lead to a font that might not necessarily be easy to read.
Studies have shown that certain fonts are easier to read than others, while some might be harder to read but are also more memorable because they require the end-user to have to slow down in order to read them effectively.
So, again consistency across all online channels is crucial to ensure your branding strategies are distinct yet consistent enough to spark emotions and create those memorable moments and feelings.
Step 3 – Brand Awareness
Once you have successfully done the above now you want to move into creating the online awareness and your brand’s value proposition. You must know who your target audience is, and know what websites they visit frequently online, as well as being aware of your competitors, and any influencers they might follow.
Here at IDMG, we have several tools to obtain this data, however, you can also simply spend some time browsing and researching online. Then you want to start producing and generating as much quality content to as many external sites as possible, ones that your target audience will find, be browsing on, and or read.
The key is to provide value and make it easy for others to share your links. PR and press release can also serve to be very beneficial at this stage, the more you saturate the market the more likely you are to be found which will ultimately bring you in sales and new clients.
Step 4 – Build trust, credibility, and loyalty among your clients
Once you have established your clientele, you must be sure to continue to provide superior customer service and products to compliment the brand image you have worked hard to build.
By providing quality service and products you will be sure to have repeat customers and develop a high retention rate. The goal is to consistently bring in new customers while keeping your current customers happy.
You do this by speaking to them consistently online and at times maybe even offering them a referral program where you encourage them to promote and provide feedback about your brand.
Keep in mind that as you continue to build your reputation and business you don’t want to change your branding or identity. You have invested a lot of time and money into building awareness and loyalty amongst your clients, so the last thing you want to do is throw all that hard work away.
Focus on keeping your audience engaged and conversations active for the long term. The more people involved in your engagements the more repeat customers you will receive, and getting those repeat customers is where it is at considering they typically spend more than 300% more on average than a new customer.
For those start-ups seeking extra guidance and or looking to expedite this process feel free to schedule an appointment with one of our experts to explore your branding options.