How to Create a Great Brand For Your Startup on a Shoestring Budget

This post is by Kip Knight from Writings from Thomvest Ventures – Medium

I’m often asked to help startups develop a strong brand. Most entrepreneurs’ biggest concern is their belief that they need a big budget to create their branding efforts properly. I have good news: there has never been a better or easier time to create a strong brand (regardless of the bank account size). In this article, I’ll share some recommendations and best practices for startups to consider to effectively and efficiently develop excellent branding plans and executions from the start.

Prime Business Directive: Strategy Before Execution

The first and most crucial step in creating a successful brand is to discuss, develop and agree on a written brand strategy. The rationale for doing this is to ensure startup founders agree on a clearly defined target audience and how they plan to position their business as a distinctive, relevant, and noteworthy brand in their respective category. If done correctly, their brand strategy will be the foundation of every sales and marketing execution that follows for years to come.

Developing a winning brand strategy involves thinking profoundly and agreeing among the startup founders on critical strategic branding questions such as:

  • Who is the target audience (and why)?
  • What are key insights regarding this target audience that we plan on leveraging?
  • What is the primary benefit the product or service offers this target audience?
  • Why should our customers believe we can deliver this benefit consistently (aka reason to believe)?
  • What is the persona of our brand (ideally expressed in three words)?
  • What are the target audience’s media habits, and (Read more…)