The Role of Branding in Building a Successful Startup
A brand is a set of values and images that help people identify a product or service with a particular company. The marketing concept of branding refers to associating a brand with a product or service to create an instant identity, which helps in creating demand and value for an item or service.
A strong branding strategy helps startups stand out from competitors and increase their chances to succeed in the market. The branding should be clear, concise and memorable. Startups should avoid overusing symbols and blatant slogans, as this could limit their creativity, alienate customers and hinder sales. Instead, they should use subtle messaging to inform customers and increase sales.
A lot of entrepreneurs are often eager to jump into sales tactics and performance marketing to kick off their business operations. They then slowly move towards prioritising sales goals rather than building a solid brand foundation for future organic growth. Brand storytelling is a marketing technique that helps businesses establish a strong connection with their customers. It can be used to create memorable stories, tell compelling anecdotes and build a better understanding of the company.
People are more likely to remember a company if they have been told a story about it. This is because humans are hardwired to respond to stories and we use them as tools for storing information. The story can be about the company’s history, the product or service they offer, or the values they stand for. A good story has three components: an introduction, where and why you started the business; a rising action, what are the problems you want to resolve with your company; and finally the climax, how are you solving those problems.
Here are 4 reasons why a strong brand is important for any small business:-
- Branding improves recognition One of the main parts of your brand is your logo, which is also the “face” of the company that people will recognise and remember. A logo design is supposed to be simple enough to impress, yet powerful enough to make a permanent.
- Branding creates trust Brands are a representation of a company and its values. They can also be seen as a promise to the customer. It is the first thing that a customer sees, and it’s what makes them trust your brand.
- Branding inspires employeesEmployees today need more than just work – they need to be motivated and inspired that they are working towards a bigger goal. When they feel connected to the company’s mission and values, they are more likely to work better and be happier.
- Branding generates organic growth Branding is not just about a logo or a catchy slogan. It’s about the experience of the company and what makes your customers choose you over your competitors. It cultivates brand loyalty in the long run that promotes organic growth in sales.
A brand story can be anything from an advertisement on TV to an article in your company’s blog. It doesn’t need to be long – in fact, it should be short and sweet with enough detail for people to understand what your business does without being too complicated or confusing. Startups need to understand the importance of branding so they can actively engage with their customers and build up their brand equity.
Meme Marketing: Is It Worthwile?
The word ‘meme’ has become a part of our everyday life and in recent years it has also become a marketing strategy used to communicate ideas, trends, and information. Meme marketing is a new and innovative way of marketing, which has been used to great success by different brands. The approach to this is to use memes as a form of advertising. The word ‘meme’ was a word derived from the Greek “mimema”, which means “that which is imitated”. It was first introduced in 1976 by Richard Dawkins in his work The Selfish Gene. Essentially, a meme is a concept or idea transmitted through the internet and social media.
Memes are highly engaging because they’re funny and have a viral element. They come in pictures, videos, or texts that become popular on the internet. Many big brands, including Netflix, Gucci, and McDonald’s, use memes to interact and communicate better with their target audiences, especially the younger generation.
So how exactly can meme marketing help your brand?
Higher Engagement
Memes work best for boosting interaction on your social media pages. They are ideal as a strategy to attract a lot of comments because they are hilarious, relatable, and shareable. Your target audience will grow when the meme is shared with others, possibly trending. Additionally, some of them can end up becoming your customer at the end of the day.
It Is Technically Free Advertisement!
Paid promotion via social media ads can be very expensive and may not achieve your goals. That is why meme marketing has become an increasingly popular form of advertisement for startups because it is relatively cheap, and easy to produce. The popularity of this type of advertising has increased dramatically over the past few years because it is an effective way for companies with limited budgets to reach potential customers.
Makes Your Brand Relatable
Meme marketing is a new way of creating content that is not only trendy but also highly shareable. Customers connect with a company more when it relates to popular themes and trends. Associating your products or services with the most recent trend and adding a dash of humour will do wonders for your business.
So if you think your brand is too professional to use meme marketing, think again. The key is to choose the right memes with the right captions to reflect your brand appropriately. Never overdo it but do not opt it out completely either. You wouldn’t know its potential if you have not tried it.
