Is your new venture nearing it’s much awaited launch date. You think you’ve got everything checked! A great team, an excellent product/ service, a viable business model, and an unstoppable drive! Needless to say, these pillars of strength stand strong, tall and confident, but what holds the ultimate foundation, is a five letter word that’s the core of every successful business today. This word is called “BRAND”.
Thus, we believe that there are 5 essential things that a business should invest in (time & money) right at the start to lay the foundation of brand building.
Brand Name (Brainstorm till the hail storms)
Often people think “what’s in a brand name” but today it matters a lot. Your brand name is your first impression and if you cant impress your customers enough; trust me you’ll have a tough time getting them to experience you once later. There are several ways to choose the perfect brand name such as
- Use the founder’s name as the brand name
- Describe what you’re doing
- Describe what your users can achieve if they choose you
- Make a word (it could be merging two people’s names or two elements associated with your business etc)
- Abbreviation of your full name (only if it’s appealing)
Keep it short and make sure it’s easy to pronounce.
PS. – If you’re building a customer-centric brand for young people, make sure it appeals to them.
Brand Identity (The ultimate visual appeal)
Details lie in the swoosh and stripes of brands. Yes! It’s all in the details! Without even mentioning the brands, you guessed it. And that’s how important a strong brand identity is.
We often observe businesses creating a brand identity with logos conveniently available on various website, fonts overused to death and colours that have been picked up randomly. This certainly creates a crack in the wall before you even start building your business. Commit some funds to creating a good brand identity right when you start so that when you become a known brand, you don’t have to re-build it completely. Good brand name and brand identity together helps you get into the eyes of the customer.
Buy a domain (Keep it simple)
We as customers prefer to trust a domain name that is exactly the same as the brand name and mostly end up looking for their website also with their brand name. Whether or not, you build a website today, it is advisable to book your domain name so that you don’t need to compromise later. While registering your domain name, we recommend choosing domain extensions like .com, .in and .co. Keep it short, simple, readable and easy to type. This enhances your search-engine page rankings and also improves your discoverability.
Social Media Handles (Secure them)
Once you’ve booked your domain, next is to secure your social media handles as that’s the next place your customers will come looking for. Make sure you get the handles similar to your brand name for better discoverability in this ever-growing platforms.
Trademark (Get it registered)
A Trademark is basically a legal protection of the brand name or identity. If you are a product company, this is the first thing you need to apply for once your brand name and identity have been finalized. The cut-throat competition today can create a lot of chaos in the marketplace, which may eventually result in copycat brands trying to leverage your hard-earned brand equity. So, once you’ve finalized your brand identity, it is crucial to trademark it!
Your ‘brand’ is the voice of your company. It’s humanized approach has the power to build an emotional connect and encompasses everything your company represents and revolves around, not just today but for the years to come! So make sure you lay the right foundation for building a brand right at the start.