A typical startup entrepreneur has the duties of wearing multiple hats. They’re responsible for their finances by maintaining a positive cashflow. In order to stay in the black and make a profit, founders are also the main salesperson. For the sale to occur, the prospect needs to believe the leader is organized to deliver the good/services.
The daily grind is repeated over and over again. What may not be repeated are the efforts to increase your brand equity. Hence, why we say you have to promote your brand.
The value of a brand. From a consumer perspective, brand equity is based on consumer attitudes about positive brand attributes and favorable consequences of brand use. – AMA’s Definition
Some of the most common mistakes I see startups make in a sit-down meeting or networking event are the following:
1. Sharing Brand Logo– we all have short attention spans. I need something easy to affix my attention to take something from short-term to long-term memory. Unless you secure a contract in that initial meeting, the need for your firm’s services is relative to the relationship they remembered about you. The more simple it is, the better.
There was a time when brand names needed to have a symbolic meaning. Company names had to describe who they were and what they did. For example, one of my favorites is American Express‘ history. They’re known to be a credit card company to an exclusive group of qualified individuals. What’s pretty cool about their historical roots is that their goal was to transport goods in the mid-1800’s. Through a merger with a bank and some other tidbits of details, their pivot of services changed the way we view credit cards.
How can you show off your brand daily?
Can you be more efficient with your day if you had an app?
Does your brand have tangible swag to increase exposure?
2. Staying Active with Supporters– the responsibility to continue the pipeline of sales are vital to the success of the company. We look for different types of hacks like webinars, lunch and learns, and workshops to continue to master our craft. Well, there has to be a balance of also staying top of mind.
A simple and common way to stay engaged with supporters is newsletters. We send our newsletter out monthly. Retailers use mass mailings via the USPS mail channel disguised as coupons. Fast food restaurants love the LTO (aka, limited time offer) promotion strategy, or happy hour specials to keep customers as repeat buyers. Anyway to keep you (aka, the buyer) in the sales funnel is the goal- especially when you buy!
What’s the easiest way for you to stay top of mind with your supporters?
Do you just need to schedule 30 minutes to execute your promotion strategy?
Is there a way for non-clients to stay engaged with your brand?
3. Brand 24 hours a Day– this is probably the most simple one, but it kills me when companies don’t have a basic website to show off themselves. Since we live the 21st century, our world is digital. This baffles me when startups don’t have a simple domain with a splash page.
As I sit here and write my article, I have my cup of water from Starbucks. I see their logo for coffee and tea. Not only do I have their app installed on my iPhone, I’m a Gold Card member. They get a lot of my money because they were available to me 24 hours a day when I was in college.
How do you stay top of mind 24 hours?
Can anyone, more importantly, your supporters access your brand when they need it?
Are you available to your clients?
At the end of the day, you have to determine what’s best for your organization. Every startup is different. The struggle of maintaining the daily grind is real. To make it a bit easier, ensure you strategically promote your brand every day with minimal effort as possible.
I write this because my business is personal because this service is for the advancement of all humanity. My failures and successes are for your gain. No strings attached.
Nathan A. Webster, MBA
Consulting | Marketing | Websites