Starting up a business from scratch is an exciting time; it can represent a fantastic opportunity for you to follow a passion in a certain field. Despite the long hours, the novelty of working for yourself can feel rewarding and energizing at first. However, it can be more of a challenge to get your business and brand established for long-term success. Unless your brand equity is established at a relatively early stage, a future of frustration and untapped potential may follow you.
Out of Nothing
Even the most established brands started somewhere. Coca-Cola
But how it is possible to quickly boost your business’ brand equity, and so drive your sales?
One of the most challenging aspects of starting up a new business is the fact that you are starting from nothing – ground zero – you have no clients, reputation or income. It therefore requires a great deal of persistence, determination and mental fortitude to turn your passion into a profit.
Creating trust between your business and its customers is the most valuable asset to your brand. As a startup business, you need to get the message out to your prospective client base – and fast. However, it is important to raise the profile of your business in such a way that your brand equity is enhanced, rather than damaged through desperation.
Our Top Tips for Boosting Brand Equity:
- Create a Coherent Business Voice – Coherence across your entire marketing and branding strategy helps customers to understand your purpose. Failing to do this can cause people confusion and lower the value of your brand.
- Visual Appeal – You need an attractive, simple logo that conveys the purpose of your business. Take time with a designer to ensure they truly understand the message you want to convey to customers.
- Digital Marketing – It is important to get your digital marketing right regardless of whether or not your business operates online. Working with a professional agency can help you to get the most out of your digital marketing spend.
- Reach Out – In this digital world, people appreciate being reached out to in a personal and tangible form. Creating a quality leaflet for distribution in a targeted area is a good way to reach out to people. Leaflets stay in an average home for a number of days – even weeks; as time goes on a greater number of people have the opportunity to see your leaflet.
However, it is important that your brand delivers on its promises! Don’t make any false claims in your marketing – doing so could damage your brand further down the line.
How have you established positive brand equity in your business? What forms of marketing have you explored?