3 Reasons Startups Should Invest in Branding Early
As the leader of a startup, you’ve done your research, and you know that creating a unique and recognizable brand will be essential to your company’s success. When it comes to branding, it’s not a question of “if” but “when” that you find yourself wrestling with:
When is the right time to invest in developing the brand into something special?
Consider some of the most successful D2C brands that have become household names over the past decade, like Dollar Shave Club, Uber, Casper, and AirBnB.
They weren’t just the first to transform a familiar product or service with an ingenious innovation; they each entered the market offering incredibly iconic brand experiences that have, in general, remained consistent from the beginning.
That early emphasis and continued investment in their brands is what has allowed each of these companies to solidify and maintain their success as market leaders.
Some of the articles and blog posts you’ve read warn that being the first to market is not always the best strategy, and this is certainly a fair statement, but we think it lacks this important layer of nuance.
If you’re the first on the market with an innovative new product, but your brand is half-baked or unmemorable, it will obviously be incredibly easy for a competitor (copycat) to swiftly swoop in and seduce your customers away. All they have to do is convince the consumer that their similar (or virtually identical) product is somehow superior to yours.
You’ve seen it happen with your own eyes. In fact, you’ve even been one of those customers who ditched an OG product or service when a more effective brand showed up on the scene and made it seem even cooler than it was before.
How did they do that? With an early investment in creating superior branding.
Where do you go to check your notifications: MySpace or Facebook? (Don’t feel bad. We’re all traitors.)
Both services were launched just days apart in 2006, but where do you stream your music: Grooveshark or Spotify?
That’s why startups should always invest in their brand from the outset.
Still not entirely convinced? Here are the top 3 reasons all startups should invest in branding early.
1. You will create a barrier to entry.
If you’re the first to your market, and you’re totally killing the game with a strong brand, you’ll make it very difficult for any up and comers to step into your ring.
Once you create a loyal customer base of adoring fans, they’ll stick with you as long as you continue giving them the brand experience they fell in love with.
2. You’ll establish credibility early.
10 years ago, getting into a total stranger’s car was not normal unless it was painted bright yellow. And if Uber and Lyft hadn’t carefully crafted brands that inspired the trust of the masses, it probably still wouldn’t be.
The same is true for companies like Blue Apron, AirBnB, and Warby Parker…
Just a decade ago, people didn’t trust their weekly grocery shopping to a service that delivered fresh vegetables and raw meats to your front door. Nor did they get their prescription eyeglasses from anyone other than a living, breathing optometrist. And they definitely didn’t rent their extra bedrooms out to tourists visiting from a foreign country.
But because these companies made early investments in their brands, they were able to totally disrupt their respective industries with small — but brilliant — innovations that made people reconsider how they lived their daily lives.
3. It will guide and streamline everything you do.
First drafts will get done faster, revisions will be minimal, and inconsistencies in messaging will be eliminated forever. Once you’ve established your brand and nailed down your guidelines for the voice, tone, and visual elements that will represent it, your life as the leader of your company will get a whole lot easier.
The rules and guidelines that you establish in your branding will eliminate guesswork from your processes, and crafting all future brand messaging will be so straightforward that any employee on your team could be trusted to knock the task out of the park.
In Conclusion…
Making this investment early will have a tremendous impact on successfully establishing your place within the market. If you want to discuss these benefits in depth, we’d be happy to talk. Drop us a line at hello@herman-scheer.com
