By: John Edwards
There are few certainties when it comes to launching a new business, but one of them is starting with zero customers. This fact alone is what deters many would-be entrepreneurs from taking the plunge. Without customers there is no income, and without income…well, you know how that story ends.
For those who press ahead anyway, good for you. Now the sales cycle begins. And for your prospective customers that cycle includes an information gathering stage, a shopping stage, and a purchase stage. The key for your startup is to stand out in each of these stages, gaining a measure of relevance along with way. How do you do that? One important way is to insert your brand into the mix. That’s because your brand makes selling easier. It conveys a promise – before, during and after the sale – that builds trust around what you do and how well you do it.
The benefits of branding to the sales cycle are numerous. Your brand builds recognition and name awareness in the marketplace in advance of the sale, which leads to increased selection of your product or service over competitors. It also builds equity for your business in the form of premium pricing and customer loyalty. It raises your product or service above the level of being a commodity, which helps reduce churn and protects your profit margin. And finally, it increases the odds that your business will survive and prosper.
So make sure that building your brand is a part of your business plan. Weave it into your product definition, your positioning, and your messaging. Realize that shaping your brand’s perception requires persistence – so stick with it. And know that there are lots of people who can help you with your branding strategy including PR and advertising firms, logo designers, and web-site developers to name a few. But remember that you control the key ingredient, which is what your product or service stands for and the benefits it transmits. That is your brand. Others can help you message it, but you need to be it first.
