Startup Tech companies too easily forget about or pay little attention to branding. It is often believed that the product or service would speak for itself. It is a great product after all. But branding is just as important as the pieces of technology employed in creating the amazing product or services upon which the business is built. Branding is what determines the success or failure of a company. Why do many tech startups fail? Because they cannot stand out among their competitors. Why is this? Their branding strategy is not solid enough, faulty or they do not even have any.
What Exactly is Branding?
Oftentimes, branding is misunderstood for business name, logo, or color palette. Every business has a name, a logo, and a combination of colors. If this is branding, why do they still fail? Branding is everything about a business. It is what comes to mind when your company is mentioned. It includes your work culture, customer service, product quality, values, and overall business identity.
There are many companies in your sector creating competition for your business. What sets you apart is how the masses perceive you through your offline and online reputation, in other words, brand. It is what makes a customer decide whether to buy from you or to ?just try out other stores?.
Branding is why companies like Apple, Google, and Facebook come to mind when related things are mentioned. It is also why everyone wants to work there. Well, in addition to the pay.
Branding communicates your values, your message to the masses and it is what connects them to your business. It is simply why they will be willing to travel miles to reach you. It is what gains you the loyalty of customers and it is what increases your sales and makes you more money.
So Why is Branding Important For Your Tech Company?
We have earlier established that branding is what sets you apart from your competitors, presents your standard, and brings you more customers.
But why is branding important to you? It brings you money.
When your business communicates good values through effective branding, it attracts more paying customers. Because the human mind is naturally attracted to what is good. You already have a great product and a great team, branding is all you need to make everything work. It is what can prevent your business from shutting down. It can improve your sales, increase your revenue, and bring you the desired result.
Branding also helps your team by giving them a clear vision of what your goals are and gives a clear, direct path to achieving them. This would motivate your team members and make everyone stay on course, working towards achieving the same goal.
What You Need To Build Your Brand
To have any business, of course, you need a product or service. But after having the product, how do you build your brand? You need to communicate your values, identity, and culture. To achieve this, you need to be able to answer the following questions:
What is Your Purpose?
Yes, you have an amazing product with the best features. Easy to use and affordable. But in order to establish a strong brand, you need to know what purpose you seek to achieve with your product, business, and company. This will give you a clear vision into who you are, what you do, and why you do it.
What is Your Personality?
Your personality defines your culture. It shapes the kind of business environment you build and it controls your team relations. It is important you choose the best personality for your business and stay true to it because customers love consistency.
What Are Your Values?
Values are the foundation upon which any business is built and that is why it is being emphasized in this article. It entirely defines your business. How you treat customers, how you approach clients, how you get work done.
Your ability to provide answers to these questions is what sets you on the path to building a very strong brand that remains in the heart of the people and sets you apart.
To build an effective brand, you need clarity and authenticity. And it is totally fine to not get that at the beginning. It is a process and that is why it stays with you forever.