Branding Your Startup with Little Money Is Easier than Ever If You Follow These Simple Tips
Let’s be honest for a second: unless you’ve already managed to convince someone to invest a lot of money in your startup, you probably have very little money to spend on marketing. That’s certainly bad news for a lot of people with great ideas, especially because they have spent a very long time in order to come up with an excellent product or service, and now they face the risk of no one knowing about them. The truth is that branding yourself with little money is indeed possible, and it can be done by anybody with the initiative. So how can you do that?
Strengthen your brand
It’s very important that you develop a very good idea about what your company is, what you want to accomplish and why it exists in the first place prior to launching a marketing campaign. By knowing who you are, it’s going to be easy for you to position your company in your efforts.
1. It’s very important that you figure out what makes you special compared to the competition. In fact, this is your main selling point, so work hard at this part of the branding process.
2. Presenting a consistent image is essential, since if you change it too many times to appeal to different audiences, people will find it hard to know who you really are and eventually trust you.
3. Lastly, make sure that you stay true to your core business idea and never try to become something you clearly aren’t. Don’t let others either abuse your brand; simply employ services such as Brandshield to monitor and protect your brand online.
There are cases when companies do have an identity crisis, and if that’s the case with yours at the moment, then you need to fix that prior to starting any marketing efforts. If you don’t, then you’re going to look confused, and customers certainly won’t like that. It’s actually well known that a lot of startups face difficulties in the beginning, but when it comes to branding, this is something you can easily control from the very beginning.
Define your metrics and goals
When you have a small budget, it’s a lot easier to be specific and clear about what you want to achieve. Ask yourself what would constitute success for you and even though it’s implied that every startup wants to make money, not every marketing effort will bring in profits. After you figure out exactly what you want, come up with goals that are both measurable and specific. For instance, don’t just say that you want to get more traffic to your website, but actually set a goal to have a certain amount of visitors a day in maximum 3 months for instance. Of course, your goals should be realistic.
Set your budget
This is both a hard and simple step to take. When trying to setup a budget for your marketing efforts, you need to think about how much money you need in order to achieve your goals in a certain amount of time. Consult with your marketing team and tell them to make an estimate of your marketing costs based on your goals. They may also recommend you use business checks for paying your vendors and suppliers. Not only can they protect your business from fraud if you designate them to have dual signatures, but they can also make it a lot easier to pay for your business’ costs, but they also make you look a lot more professional.