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When And How Much Should A Startup Invest In Branding?

A brand is a term, name or a design that is used to identify your business, products or services. It also acts as a message or a communicating thing to the customers about what you are providing. It is important for a business to have a solid presence and identity in the targeted market to achieve success. If you want to register your business in everyone’s mind, then you need a well supported identity and branding. To get more information, visit https://www.marketingstrategy.com/startups-and-branding/

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When And How Much Should A Startup Invest In Branding?

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  1. When And How Much Should A Startup Invest In Branding

  2. Context • Introduction • Brand Building • Mindshare vs. Marketshare • Branding – Two Parts • Media spend • Brand identity

  3. Introduction • A brand is a term, name or a design that is used to identify your business, products or services. It also acts as a message or a communicating thing to the customers about what you are providing. • It is important for a business to have a solid presence and identity in the targeted market to achieve success. • If you want to register your business in everyone’s mind, then you need a well supported identity and branding.

  4. Brand Building • Brand Building is nothing but promoting good identity or feeling about the brand’s quality or services. • Building a brand effectively will also show increase in traffic and conversion. • A strong brand will definitely result in better sales.

  5. Mindshare vs. Marketshare • Mindshare is nothing but creating awareness about a brand. For example, if you think of a category, then you will remember only that brand and nothing else. • But sometime it will change to Marketshare. For example, if a person wants to buy anything then a brand should come in their mind. To achieve this, mindshare will help you. • Branding will be effective when you did some mindsharing. It helps you to win against your competitors.

  6. Branding – Two Parts • The branding is categorized into two parts that is - Brand idetity - Media spend • For a startup business, it is better to focus on sales initially rather than brand building. Because sales is the main thing to even promoting a brand.

  7. Media spend • Media spend is nothing but promoting the created brand identity through media. • It is the thing which people refer to when they think of a category. This will also be very useful in building mindshare. • Some of the mediums you can use for media spend are - Television, radio or billboard advertising - Social Media followings - SEO and PR - Paid postings - Sponsorships, etc

  8. Brand identity • Brand identity is creating a consistent identity about the product. • It is the very first step in brand building. Start ups can undoubtedly invest in brand identity. • Creating identity includes - Getting a suitable name, logo, informational design and domain - Developing an appropriate website - Good content and much more.

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