Why branding is important for startups

[sakibkhan29188]

You don't just start a company at breakfast. Granted, the business idea may be born there – but that's when the real work begins. Euphoric and full of energy, many startups throw themselves into building their business idea, and a thousand things need to be done simultaneously. Who has time for branding and developing a brand personality? "That comes later," you think – let's get to market first.





Download: Branding Guide




And therein lies the challenge: As soon as you turn a business idea into a company, a brand is created—whether you want it to be or not. Every decision regarding a design, a font, a logo, stationery, a Facebook page, or a specific tone of voice is a branding decision. Your brand is forming from the very beginning, so branding should be developed in parallel with your business plan. It is an equally important foundation for long-term success.



Your friend, the brand


A visit to the supermarket demonstrates the significant role that brand personality plays in a paraguay phone number data company's success: Pfanni, Dr. Oetker, or Iglo are branded products that almost everyone associates with. We can assess these brands; we have an opinion about them; we know their performance, their aesthetics, and their message. Private labels, on the other hand, the so-called no-name products (that really says it all), function primarily through price. They are the cheaper alternative to the branded product. We don't need to know much more about them—and usually, we don't even want to.



Let's be clear: Customers don't choose no-name products out of passion, but for rational reasons. We primarily feel genuine enthusiasm for branded products, as anyone who has ever waited in line at the Apple Store for the new iPhone knows. A strong brand is a very valuable asset for a company, as the management consultancy PricewaterhouseCoopers confirmed in a study : "Trust is an important asset for any brand. Last but not least, a brand name that consumers trust is also part of the company's real value. [...] To treat themselves to something special, four out of ten consumers deliberately choose branded products. Many prefer branded products, especially when it comes to gifts and occasions like birthdays or Christmas."



A strong and consistent brand identity therefore has a direct impact on sales. This applies not only to the consumer goods sector, but also to B2B industries with their complex products and services that often require extensive explanation . There, a strong and consistent brand identity helps build trust.