Establishing a brand is a vital step in creating a successful enterprise, but one that is often not given the importance it deserves. This is the basis for marketing a product or service; beyond that, it defines the identity of the company behind it.
While every entrepreneur is eager to get his/her product or service into the market as soon as possible, the process should not be rushed.
“Building a brand is something that evolves over time,” said Virginia Miller, partner and owner of the Beuerman/Miller/Fitzgerald (BMF) communications firm. “Too many times, entrepreneurs are thinking about filling a current void rather than looking farther down the road. You have to think long term.”
According to Courtney Cash, senior account executive at BMF, several key factors should be considered at the beginning of the brand-building process.
“You have to know who your target audience is, and work backwards from that,” she said. “How do you tell them your story? What is your mission? What do you want your company to represent? Customers want to feel like they have a stake in the brand; how do you create that connection?
While businesses are understandably eager to begin seeing results, Miller and Cash emphasized that all necessary preparations must be made before going public.
“Be sure the product or service is truly ready to launch,” counseled Cash. “Make sure your brand is understood internally.”
Cash also noted that — especially given the wide variety of marketing options now available — branding should be completed before a marketing plan is developed. The nature of the brand should drive the nature of the marketing.
Another facet Miller pointed out is “don’t go overboard on your brand promise. It is so hard to recover from a bad perception.”
As an example, she cited BP Oil Company branding themselves as a green energy company, which backfired badly after the Deepwater Horizon oil spill.
“You must prepare for potential risks,” she said. “You don’t want to find yourself facing an issue that forces you to respond in a way that doesn’t align with your brand.”
One major branding decision is determining the degree to which the company’s founder/owner will be the face of any public campaign. The temptation to be out front is often strong; as Cash noted, “Entrepreneurs feel like they are the best person to tell the story.”
While this can be a successful approach (a local example would be Lamarque Ford), it has risks and limitations. If the owner runs into any kind of problems or controversy (think Martha Stewart), the brand can be seriously tarnished.
Looking further ahead, being the face of the business can be a substantial impediment if the founder wants to sell.
Once a brand is established, finding the right balance between consistency and flexibility is the next challenge.
“You’ve got to be pliable, be ready to pivot,” Cash advised. “Anything can come up at any moment. You don’t want to come across as tone deaf, not listening to your end user. Sometimes you may need to pause messaging or a campaign.”
The flip side, in Cash’s words, is “being relatable and being relevant, staying true to your mission and message, being someone people feel like they can trust.”
Miller stressed that navigating this channel successfully requires constant vigilance, monitoring events, influencers, competitors, marketplace changes, costs and more.
“The most successful campaigns are those we look at every day,” she said. She also noted that smaller, more targeted campaigns are frequently both more successful and easier to manage.
Amid the flurry of product development, company-building, marketing and more, brand-building is often given secondary consideration. Yet few things are more integral to success than how the public perceives your business — your brand.
Keith Twitchell spent 16 years running his own business before becoming president of the Committee for a Better New Orleans. He has observed, supported and participated in entrepreneurial ventures at the street, neighborhood, nonprofit, micro- and macro-business levels.
