Contents
- You are your brand, and it is a business
- Good ideas spark movement, and money
- Competitive markets need you to be different
- Robust brands foster camaraderie, confidence, and legitimacy
- They also breed loyalty and advocacy
- Your brand can also help you command the price points you want
- Investing in brand gives you strong foundations for growth
- Final thoughts
I believe that all new and small businesses ought to make brand investments. It serves as both the basis for everything and the catalyst for your own movement.
No matter how tiny, a movement is still a movement.
I’m not advocating that every brand declare revolution and plant its flag in the ground, unless that’s their desired outcome.
I am suggesting that all great brands evoke strong emotions in us; they might make us laugh, weep, wonder, fix, or follow.
Does that impact apply to EVERY brand?
No.
Which of the brands can I name? Most likely, if I really gave it some thought. However, the point is that they’re not and probably never will be top of mind.
Truth be told, people have a difficult time supporting something they don’t comprehend or relate to, including prospective clients, customers, and workers.
You are your brand, and it is a business
The belief that brand is the “fluffy” or data-free portion of marketing that yields little return on investment (ROI) is one of the biggest challenges I frequently encounter.
I’ve become irritated by inquiries such as “What’s your purpose?”
However, such inquiries are only bothersome if you feel unprepared to respond.
Furthermore, in my experience, any founder of a tiny business or startup may find a solution, and that answer aids in determining the course of their enterprise.
Similar to the business brain is your brand.
While your body is sales and marketing.
They are the ones who take the action. They take action and obtain the desired outcomes—numbers.
But the brand brain is what motivates them. The choices you make at the top influence the decisions that are made on the ground.
Good ideas spark movement, and money
I’ve also argued that it’s simple to use well-known companies with substantial marketing resources as examples. And I recognize this complaint.
Examples that are frequently cited are the Apples, Nikes, and Doves; yet, their excellence stems from their status as proof-of-concept.
We can see it works because they have invested millions.
However, on a local or regional level, startups and smaller businesses can imitate these industry titans and create thriving online communities. Making these work requires brand.
Your small niche is yours to own.
The important thing to remember is that investing in brand can be profitable.
Competitive markets need you to be different
Having a strong brand can make your startup stand out from the competition.
This is especially crucial if your industry is saturated and you’re competing against a clear market leader.
Consider Stripe’s attempts to challenge established banks and payment systems. I can assure you that they didn’t start out winning by outbidding their rivals.
They were able to stand out from the crowd by forging and promoting their own identity and set of principles via communication.
But that wasn’t a given.
Make sure you’re not just copying the tone, character, and ideals of people in your local market if you want to follow suit.
Determine your edge over the competition, and make it your brand vision.
Robust brands foster camaraderie, confidence, and legitimacy
Have you ever seen how all the hipsters and woke kids in the area swarm to a new coffee shop that opens up within weeks? Even if there are 17 Starbucks and 11 Costas with a few clicks?
The brand, man!
You can start a fellowship if you can communicate with a certain group of people or a community.
Consumers will pick your brand over more well-known ones.
You may play with the giants if you offer customers a cause to believe in and align with you.
You’ll be well on your way to establishing credibility and trust for your work once you’ve laid the groundwork and are creating your own community.
Your team, your website or local store, and your visual branding will all benefit from this credibility and trust (not to mention your bank account).
They also breed loyalty and advocacy
Brands that foster community have a tendency to encourage advocacy and devotion.
And it’s all predicated on that emotional bond we discussed before.
When you establish a relationship with your consumers or clients, they are more likely to return or recommend you to their friends.
Sometimes making this connection is as easy as watching a humorous video, admiring a stunning billboard, or watching an advertisement.
Imagine, for example, you buy a T-shirt.
Or a set of T-shirts. Let’s say from H&M—lots of us buy our T-shirts there. I imagine you felt very little emotional connection to that t-shirt. Maybe you didn’t even check the brand on the tag. I wouldn’t blame you.
But now imagine you saw an advert for an H&M t-shirt.
In that advert, the t-shirt is being made in the factory, stitched together with care and precision. It’s folded neatly and placed in its little plastic bag alongside a handful of other fresh, colorful t-shirts. It’s shipped to the store, dark, folded, and eager. It talks to the other t-shirts, all of them curious about their future—they’re all in the same boat!
At the store, the t-shirts sit on the shelf, wondering what adventures they’ll embark on. They’ve heard tales of how they accompany people to important meetings, casual hangouts, memorable vacations, and life’s big and small moments.
They buzz with anticipation at the thought.
One day, the t-shirt is picked up by a customer, and our t-shirt (the one we’ve been following) is chosen from the stack.
It shouts “goodbye” to its fellow t-shirts, and they shout “good luck” and “make us proud” in return. The t-shirt is then worn to a family gathering, where it becomes part of a cherished memory captured in a photograph.
“Comfort, style, and memories to last a lifetime” – the text on our screen reads as we zoom out from the smiling family – the wearer hugging their loved ones, the t-shirt looking as vibrant as ever.
“H&M” – the narrator reads – “What story will your next t-shirt tell?”
Blackout.
Bet you’re more likely to recall that next time you buy a T-shirt from H&M.
And you’re more likely to go back and buy them again, maybe even recommend them to your friends saying “Did you see that heartwarming advert where…”
And if you’re laughing at “t-shirt tell” stop it.
I just made that up by the way, so if you’re from H&M and are looking for some brand copy about t-shirts and tales, I’m available.
Your brand can also help you command the price points you want
Your brand can attract higher price points after it gains recognition or popularity. Or perhaps you separated your brand early on with that tactic.
Customers are more likely to pay the price point for companies that they connect with value, regardless of the strategy you choose.
When we (as customers) feel an emotional connection, or perhaps when we’re a millionaire, we can see past a pricing point. However, disregard that last suggestion unless you are targeting billionaires with your startup or small firm.
Naturally, you may make a lot of money by commanding higher price points, and if you can do so early on, you may be well-positioned for long-term financial success.
Investing in brand gives you strong foundations for growth
For me, one of the most crucial things is that startups and small businesses can have solid growth foundations thanks to thoughtful brand strategy.
Alignment, advocacy, and all the other things we’ve talked about come from you and your team being able to articulate who you are, why you are here, why you’re different, who you serve, what you serve, and more.
Needless to say, a well-known brand can lessen risks and make it easier to enter a market.
It gives you a strong foundation on which to launch additional goods or diversify your company, which facilitates the acquisition of traction, capital, and acceptability.
Final thoughts
So maybe it’s time, readers, to make an investment in your brand.
You see, making investments in your brand is an investment in your ability to survive.
You’ll be able to differentiate yourself from the competition, earn people’s confidence, foster client and consumer loyalty, command top dollar, draw in talent and collaborations, and lay the groundwork for future expansion and success.
Furthermore, it doesn’t have to be extremely difficult or time-consuming. Less stakeholders is one advantage of being a startup or small business.
Would you like to continue the discussion? Please get in touch.
I’d love to help you succeed in your startup journey.
If you enjoyed reading, or found it helpful, please share:
Often we don’t realise the best ideas for a product are irrelevant without a brand the customers can relate. The H&M example shows how a story woven around it can make the customer relate to your brand. Such emotion help in increased value since the customers top reason won’t be just the cost or value, but the emotion associated with the brand. Definitely an important aspect, I will get in touch with you to discuss further.
Thanks Os.