Build a Strong Brand That Benefits Your Scaling Business
Strong branding creates numerous benefits for any business — but especially scaleups. From informing your recruitment strategy to creating marketing campaigns to better employee retention, the stronger the brand, the better footing you’ll have to continue building up your business. Excellent branding and awareness can be leveraged with your recruitment marketing strategy to help attract and retain better job candidates. It begs the question: Is your brand strong enough?
Check out these business brand building blocks and tips to find your weak spots and highlight where your branding strategy hits the mark.
What builds a brand and why is it important?
A brand is more than just having a logo that consumers recognize. It's your company's presence, how clients view your business, and what others expect from your company across different realms — from customer service and product deliverables to where you stand on the environment and current events. Brand presence is always important, but especially for startups, as you are still striving to make your presence known. Asking this question will help new businesses, and existing ones, establish better branding: What are the key drivers behind building your brand?
According to Butterfly, you can measure your brand strength with the following three pillars:
- Value and Differentiation
Let’s take a brief dive into each:
If your brand connects with consumers in a resonant way, you're well on your way to creating a memorable business. Establishing core values and communicating that to potential customers will go a long way in creating a longstanding, recognizable company brand. Core values, and hiring according to them, also benefits startups with their recruitment strategy by finding appropriate talent who resonate with your business and want to grow with you. Over time, you’ll have less employee turnover.
Besides your company culture and its values, your brand also has to benefit your client's lives. Your brand should demonstrate how it's valuable to your customer and what makes you different from (and better than) your competitors. Understanding what your business offers also helps with getting that first round of seed funding from investors!
The most obvious of the three is making your brand visible. If consumers aren't aware of your brand, they won't be conscious of your business, the value you can add, and whether or not they emotionally connect with your company. Once you determine your target market, you'll need to find out the best platforms to use to reach them with your message.
How does your brand measure up?
Not sure where to start taking stock? Try asking yourself these eight questions from Emotive Brand. They will help you figure out where your brand shines and where it may need a quick tune-up. Especially if you are just starting out, these questions will help you identify key areas where your branding could be slowing down your startup’s growth.
If you answer no to any of them, it might be time to talk to us at Pivot + Edge. We can help you build the best branding strategy for your business, improve your employee recruitment and retention, and help craft a positive working culture for your growing team.