There are few things more exciting than starting a business from scratch. New businesses present entrepreneurs with countless new opportunities to make contacts, advance their careers, and improve their financial standing. Unfortunately, starting a new business is also complicated and difficult. A few bad marketing and branding decisions early on can be incredibly detrimental to a new business’s prospects. With that in mind, today we’ll highlight four branding mistakes that startups should avoid at all costs. Check them out here so you can build your brand effectively instead:
Good, bad, or ugly, a brand first and foremost has to be consistent. Businesses that don’t have an overarching brand strategy, though, often wind up producing inconsistent branded material. Remember, your company should only have one logo, one color scheme, one social media page, one content style, and one set of contact information. Otherwise, quality leads may not trust your company or even recognize it.
The best brands are unique. The bad news is that since there are already thousands of companies operating in any given market, it can be difficult to create a brand that is truly original. It’s especially crucial, though, for new business owners to ensure their branded material isn’t the same or similar to another company, organization, product, or service. Not only could this land you in legal trouble –– potentially –– but it will also make it much more difficult for consumers to find your company if your name/brand is very similar to a more popular entity. At the very least, this could prevent you from expanding your brand’s presence online.
Sometimes marketers can be too smart for their own good when they set out to develop a brand. Ideally, your brand name, logo, and content should immediately inform a consumer about what your business does. If, however, your brand focuses on keywords or design choices that have nothing to do with your industry, consumers may be confused and turned off by your promotional efforts.
Changing Too Quickly
It’s imperative to get branding decisions right the first time because having to change your brand is a big undertaking that’s fraught with challenges. Keep in mind that it may take a new company months or even years to find a foothold in their market. So do your best to avoid changing your brand too much. Otherwise, you risk losing out on loyal customers and undoing a lot of your good work in other areas.
Great branding transcends business size. It doesn’t matter if you’re running a medical startup like ThriveMD or a multi-billion dollar corporation like Nike, making smart branding decisions will have a meaningful impact on your bottom line. Fortunately, avoiding these mistakes will allow you to set your new company up for branding success for years to come!
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