When to Invest in Branding for Your Startup
You’ve got an idea for a business. You’ve started setting aside a little revenue to spend on professional branding. Maybe you’ve even put together a Pinterest board of images that represent the look of your brand (good for you!). Now what?
When it comes to investing in your branding, timing is everything. Waiting till you land a few big clients/sales makes sense from a financial standpoint, but often what’s keeping you from getting those big deals is your branding. At the same time, you don’t want to start building a visual identity before you’ve really figured out who you are and what you stand for.
Believe it or not, there is an ideal time to invest in branding and it’s usually not right at the beginning.
DEVELOP A BRAND STRATEGY
Creating a solid brand strategy is more important than ever in today’s saturated digital market. Your customers (and your competitors) are all online, therefore you need to be online. But simply having a digital presence isn’t enough anymore. If your brand doesn’t stand out as memorable within the first minute of visiting your site, it’s overlooked, and it will be difficult to win back those views.
We see tons of startups spend thousands on a logo and a website to create their online presence before they’ve even figured out how to differentiate their product and their message. Ultimately, these companies have a very hard time creating traction. Their brand identity feels scattered or flat because they haven’t taken the time to create the foundation before diving head first into their branding.
To ensure that your brand is sticky, you’ll want to get super clear on your product value and how to communicate it before you hire an agency or design shop to create your brand’s visual elements. In order to get a cohesive brand that truly engages your customers, your product needs the following elements:
1. A unique selling point
2. An easily-digestible (and memorable) message.
3. A clear vision of what your company stands for and what it doesn’t stand for.
These items are the backbone of your brand. They tell your client what you can do for them, what makes you different from your competition, and why they should care. Without them, you are just white noise.
So, what happens if you don’t have the experience or data to know what your unique selling point is or a clear brand vision? Or perhaps your business isn’t at the point where you can afford to invest thousands in branding yet? You need some kind of logo and website to test your product with, right? The answer is lean branding.
Hire a visual designer who can create a basic logo and website for a small fee. This gives you something to get your business out there, to start selling and testing your services in the market. Keep the branding simple so that it’s not such an elaborate change later on.
Once you’ve had some experience with clients, a strategic brand shop can craft that into something that will take you to the next level.