‘Is branding the key for a successful start-up?‘ is the topic for a speech I was asked to give at Internet Hungary this week. I could make it a 5 second speech and say ‘Yes, it is one of the most important factors,’ but lucky for me the topic is broader and will go deeper into the keys of creating a successful brand. Let me use this opportunity though to dive knee deep into this question as some brand elements are more important to certain types of companies at time of launch than to others:
No one shall skip the Brand Platform creation at the onset of a new venture, unless you want to compete on price, be boring and unattractive to work for, and are not keen on acquiring the right target audience at time of launch. You tackle the Brand Platform right after you draft your business plan (from fully fleshed out to napkin version – all are acceptable forms of business plans at this stage, depending on your own comfort level).
Launching with a meaningful and unique Name and Brand Identity Design seems like a no-brainer, a must for all entrepreneurs. If for whatever logical reason (budget not being part of that logic) you feel forced to launch with a sub-par name and logo, knowing you will have to go through a (more costly) re-naming and re-branding exercise upon showing first successes, it is the easiest to do for a tech startup or B2B venture that requires solely test users or relies on a very small niche audience, which will make it easier to educate them on this big and disruptive brand change down the road. Some Tech Startups (especially apps) are prototyping until the day of launch, making it an easy excuse to skip this essential step, whereas it is much more advisable to work on a prototype whilst formulating the brand platform, that way you are educating yourself about the target audience while you see them use the actual product, enabling you to create a meaningful brand that will not have to be rebuild soon thereafter. A win – win.
Needs for Brand Atmosphere Touch Points vary in importance and specifics from company to company with retail and other mainly offline B2C companies leading the list, E-Commerce and Tech Startups surviving off some basic, consistent touch points bundled with heavy E-Marketing template creations, while most B2B brands fall anywhere in-between, depending on their structure and audience. If bootstrap is your motto, these can be rolled out over time, making it essentially more pricey, but allowing you to spread the cost.
It only makes sense that ventures leading with digital need to make UI/UX Design part of their strategic brand implementation. Most companies – B2C/Retail and B2B – rely heavily on brand-centric (responsive) web sites to attract and convert leads of different types. For Online Retailers and Tech Startups where the web site also is the product, the prototyping should be addressed in parallel with the Brand Platform creation as it will educate the branding process as a whole. Some companies are able to save on development costs using existing WordPress templates (and such), but brand will still be key at launch.
To conclude, whenever a startup founder tells me (and they tell me all the time) “I can not afford branding at this early stage of my company formation” I reply with “No, you cannot afford not to brand at this early stage of your company formation. Unless you think a strong brand is worth less at time of sale or IPO than an ugly yet functional prototype.‘ This often marks the end of our conversation, until they call a few weeks later to get started with branding their new venture.