Branding for startups, small businesses and Entrepreneurs…
Some “branding experts” are saying that you should spend thousands of dollars on branding. Don’t just believe them without considering a few things first. A good branding consultant will take the time to understand what stage you are at in the development of your business and offer services that make sense for what you need.
There are valid reasons for some companies to spend tens of thousands of dollars (even much more) on branding, however, these are typically large corporations and other well-established companies – the ones that can afford to spend this kind of money on a brand identity.
Why would you spend thousands of dollars on branding when you may not even know who your target-market is? Do you know who your target market is? Or maybe you haven’t even made any profit yet? If that’s you – you still don’t know if what you’re getting into is going to work. Do you even know yet if your idea will take root? Take things one step at a time.
What should you do now?
Branding encompasses many things. It’s usually a good idea to spend some money on a logo, a nicely designed website and maybe even some promotional materials – and that could very well involve a branding agency – but don’t overdo it.
Everyone needs a website, it’s an essential marketing tool for your business – just be sure to recognize what you need and what you’re getting for your money. Don’t spend $10,000 on a website when what you need should only cost you $3,000 or $5,000. How will you know what it should cost? Ask around, talk to some web design experts and get some quotes.
One of the first things you should do, before branding design, is BRAND IDENTITY… this is the process of figuring out what your target market is, what you are best at, and where you want to put your focus. Your target market should not be everyone. You should specifically define your target market and focus your business on that. That doesn’t mean all of your clients/customers are going to fit into your definition, but it means you’re more likely to enjoy what you’re doing.