As an entrepreneur you have followed your dreams, taken risks and made enough sacrifices. You have got that first round of funding from investors and even rented an office. Your adrenaline is rushing to get your product / service out in the market and make a difference.
So what’s next?
One of the biggest reasons why start-ups fail is that they don’t invest time and effort in building a brand out of their products/services. Brand building is as important as building a product. Emotional connect between your product and customer is paramount. How your product integrates with the lives of your customer makes you stand out. However, there’s a challenge in this. There’s a lot of companies making similar products. How would you stand out from the crowd?
In today’s crowded market empowered by digital media, your customers are overwhelmed by the information. The attention span of human beings is 8.25 seconds which is less than the attention span of a gold fish (Gold fish is at 9)
So getting your unique promise out despite the huge noise of sameness will make the difference. Your brand is the visual and emotional representation of your product/service. Letting the world know about your unique promise or in other words offerings, what your brand stands for, its values and beliefs makes a clear differentiation.
Transforming your product into a brand becomes successful when your product touches the soul of your target audience. Branding helps you emotionally connect with customers making them choose you over other competitors. It also solves another major commitment issues – why should customers trust your brand? A branding exercise helps you build your credibility and reputation by exuding your finest qualities in the best possible ways. This gives out a great story which we call a “brand story”.
Branding shouldn’t be a one-time investment and instead it’s a continual process to stand out and make a difference.