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4 Crucial Steps You Need To Take Before Crafting Your New Venture’s Logo
Don’t hire us to create your logo. Not us, nor anyone else therefor. Sure, we could create a great logo for you. It would look timeless, be very well designed (I believe we are one of the best, and many agree), it would work across platforms and for years to come, and everybody would be telling you how much they love it. So why shouldn’t you hire us to create this important piece of branding for you?
Chances are you don’t need a logo designed. Not yet.
Chances are you need a brand built, and your logo is just a part of it. By creating a logo in a vacuum, and out of sync, you will likely fail. I don’t want you to fail. Nor be part of failure. I think we share this belief as entrepreneurs.
It’s the cart before the horse idiom: Why put the horse in place if we don’t know the message by the messenger yet?
Below are 4 key elements you have to have in place prior to embarking on your logo design; they are the bare minimum requirements, the wheels of your cart so to speak:
1. You have a positioning statement in place that focuses on the ‘why’ and you stand tall behind it
2. You created 3 target audience personas that stand for who you are actually talking to/with
3. You know your brand personality and its associated keywords and are ready to act upon it
4. You have created a meaningful name that responds successfully to all of the above
If you don’t have these in place, creating a logo would be wasting your money, and (y)our time. It’s a lose-lose situation. How would any designer know what to design without these in place; how would the logo convey what it needed to convey; and finally, how could it connect with your audience? I don’t know, but I see it happen every day on the client’s expense.
Contact us if you need help getting there, as we love to assist and contribute, while speeding up that journey to your brand image.
Go Ahead, Let Them Pay What They Want
As a new brand, what if you let the customer decide how much to pay for your offerings? Let them pay whatever they feel is fair.
A bold statement. And a great thought to ponder: What is your product really worth to your customer?
If you have a strong established brand with a trusted and emotional connection between your offering and your customer, you may be surprised by the impact this model can have. Panera Bread did it most famously: In special Panera Cares Community Cafés (based on what SAME Café has done before them) customers pay what they can, and, more importantly in this context, they pay what they want to pay.
Guess what? They make more profit.
Not necessarily more sales revenue (only 20% less than regular Panera Bread stores), but with ~2 billion media impressions alone and loyal fans instead of customers, imagine how this model can profit a new brand. The CEO of Headsets.com, Mike Faith, states (via Wikipedia): ‘Just as money-back guarantees were considered over-generous and dangerous when they were first introduced, they are almost a standard nowadays. There is no reason that trust-based pricing shouldn’t become a norm over the next decade.’
I believe there is great value in entertaining this strategy for various segments at a brand foundation level. It’s noble, yes, but further it can be used to build a truly profitable brand; one that will honestly and truthfully connect with its customers from the get-go – a brand built on trust. If you are launching a social enterprise (or feel highly socially responsible), and you have the guts, I believe there is great glory to be had.
A Much-Needed Layer Of Protection For Your New Venture
A startup is vulnerable; very vulnerable.
They will notice.
They will steal and copy.
They will undercut your price.
They will be bigger and more powerful than you.
Welcome to entrepreneurship!
Your startup has many weak areas that require protection
Despite the idea of branding being about positioning, image and voice, for new ventures branding provides something of much greater value: A thick layer of protection.
Launching your new venture as a brand provides a thick layer of protection
With a startup product or service you may be so intrigued by its novelty or functionality that you decide to make a purchase.
With a brand you fall in love, and love is a strong word. Love does not fade easily. Once you created love, you will compete on a much higher level, one that is not about price. Your initial customers – the ones you have to fight so hard for to gain in the initial months upon launch – will quickly abandon ship for a cheaper variation, or a competitor’s added feature, if you did not make a conscious decision to invest (time and money) into the process of translating your startup into a brand at time of launch.
Branding for new ventures is first and foremost about an emotional connection, a strong immediate bond, between product/service and person (the customer). If you make that happen, you can sit back and let the competitors come your way; you are protected.
Let me know if you have questions about turning your startup into a brand, or if we can assist hands-on. You can also use our rather vast library of resources. However you go about it, start creating that layer of protection around your new venture; you will thank me later.
Talk Talk – Talk Talk (Sound Naming Advice)
Do you remember this song? Talk Talk by the highly influential 80’s band Talk Talk?
That’s right, you do. It was rather memorable. Lucky for them, as they named their first song on their first album (their second single release) after their newly formed band.
That takes real guts.
And guts can result in glory…or defeat. Brutal defeat that is. A risk that many new ventures are willing to take when they name their product the same as their company, or vice versa. It is a move that most often is based on a swift launch. Rarely is the decision to name an offering and its company alike a choice of strategic nature.
When Talk Talk decided to choose Talk Talk for their ‘inaugural song’, there was a risk involved in case the song sucked, but the band had a decent amount of control over that. The song did not suck, instead it defined a sound that they built their entire career on. You hear Talk Talk (Company Name) and you automatically hear the song Talk Talk (Product Name) in your ears. Smart move.
In the entrepreneurial world though, betting on your one product to turn into a hit is a gamble that only gets amplified once you decide to diversify your portfolio of offerings down the road. Levi’s had a major hit with their jeans, then they tried selling khakis and failed doing so under their brand name; they had to create Dockers.
Here’s to you, Talk Talk, for tempting entrepreneurs to take this risk. For the ones that aspire to lead through brand strategy though, you may peruse our white paper on brand architecture instead (while listening to any 80’s hit of your choosing).
How To Create A Truly Meaningful Positioning Statement
Oh yes, the good old Positioning Statement; used for decades, it still is the single most powerful tool to define a new venture’s audience, category, benefits…and reason for believing. Powerful, because this is all part of one single sentence; a sentence that many Founders struggle with, as a recent poll of ours showed.
When I work with clients on defining, and refining their positioning statement as part of our Resonaid™ workshops, it takes between one and four hours to get this sentence right. Yes, power comes with responsibility, and questioning the reason for being, and for believing in any new venture is worth a few hours of pondering.
Search for the term Positioning Statement and you will be surprised by just how varied the approaches to a classic branding tool are. It is most astonishing that a majority of statements leave out the most essential part of it; the reason to believe.
Most statements focus on the differentiators, ours (pictured above) focuses on the ‘because’ – the part that takes time to ponder and to perfect. It is also the part that will truly differentiate your venture from others. It puts your venture to the test: Is it truly a big idea? Is it important? Can it be bigger? Should it become more important? Is this why I will work late nights and put a lot at stake?
The big question ‘Why’ has been making its rounds past the branding community for a while now, most noteworthy through Simon Sinek’s TED talk. Despite its popularity, just like is the case with the mundane idea of writing a positioning statement altogether, the ‘because’, the key part that will indeed generate you sales, is often neglected. If you found an excuse not to tackle this sentence for your venture, take these words as a gentle kick in your behind and make today the day for accomplishing it. It will change your venture for the better, guaranteed.
Your New Brand’s Underlying Mission? Be The Best Waiter Imaginable.
Be a Waiter? Waiter…as in the service personnel in a restaurant?
That is exactly right. Your B2C or B2B brand should aspire to turn into the best waiter you can possibly imagine. When I spoke at Innovate Pasadena a few weeks ago, I found myself making this statement out of the blue at the beginning of my speech, and I felt it was an analogy worth sharing.
I am certain you had those moments when you were on a romantic date, an important business lunch, or in midst of a highly stimulating conversation with an inspiring person when the waiter interrupted to tell you about today’s specials. Here you are, having gone through many steps to arrive at a magic moment, just for the waiter to kill it in an instance. Of course the service industry as a whole is a great place to zoom in on when it comes to ways of ruining (or magnifying) a great experience, but the intimacy of a restaurant setting can amplify the bad moments.
Let’s focus on your favorite restaurant with your favorite waiter instead:
He does not interrupt, instead he knows exactly when, and how, to check on your wellbeing. It goes far beyond food orders, refills of water, pouring of wine, or asking if the food is to your liking. It is about careful observation and impeccable intuition. A great waiter knows when to appear and when to disappear, when to speak and what to say, when to assist and in what matters, and when to silently observe.…and all of this at just the right moment. A great waiter fits into the experience like a puzzle piece, when – and only when – you want, or need him. That’s what your new brand should aspire to: Equipped with a deep understanding of your target audience, your brand acts like a mindreader.
Impossible? Think of that special restaurant with that special waiter. It is happening in restaurants around the world; but only the few that put the extra effort into it – and it is mighty memorable for their customers. Aspire for your brand to put in that extra effort to turn into that amazing waiter. Your audience will remember, share and repeat their experience, regardless of the price tag.
Lure With Candy, But Sell Meat & Potatoes: Brand Strategy For Brands Built On Trends
How to outlast Trends?
Turn a Want into a Need. A Need is usually not temporary, a Want often is.
If as an entrepreneur you uncover a trend to tap into, it can be done in a short-term, unsustainable, yet highly profitable manner: Start shop quickly, gain momentum fast, maximize sales and dissolve immediately upon peak. Done deal. You did not build a brand, but sold a trendy product or service that has run its course, but in a profitable manner.
If you are in it for the long term, despite leading with a trendy product or service, and you want to build an actual brand, ensure to have a long term brand strategy formulated. It does not even need to have a direct relation to the trend, only to the audience and category. Your audience would not know, they are blinded by (and excited to buy into) the trend, but once the trend fades, the audience is yours and you will be ready to tap into them with the next product or service that speaks not to their initial Wants, but this time to their Needs. You planned for that to happen. The consumer already likes your offering, and if the trend faded, but you have another product ready to sell that fits their needs, they will make the purchase based on the trust your brand has established. You successfully created a trendy product and turned it into a sustainable brand. With this strategy you tap into a momentary want (a trend) yet allowing you to keep the same consumer for their ongoing needs.
If you are destined to dive into the risky business of building a brand based on a single trend, make sure to lead with the candy row for their wants, but then build the rest of the store to sell them the meat and potatoes they actually need.
The Number One Most Important Branding Exercise: Don’t Think Of Your Audience, Think Like Them
Imagine you own a well established, sophisticated Mexican restaurant in a wealthy neighborhood that is frequented by out-of-towners as much as by locals and has been receiving rave reviews for years. You made a good living and decide to buy the Irish pub a few doors down the street, on the same block.
So far so good.
Your logical next move is to announce to your customers that you now run another great establishment, serving different cuisine and drinks, same quality, same owner, just a few doors down. Have a pint after your dinner!
And this is where a perfectly logical move is costing you customers instead of gaining them, because you thought of your customers instead of like them.
This is not a fictional story. I was reminded of that anecdote when I talked with a client last week about how he must hone in on his target audience and focus on a singular message that speaks to his specific offerings and their specific needs. Sounds so simple, but as you can see, it is not. The temptation to reach out to your customers, or to widen your offering or your clientele, often leaves the most important part of branding left behind: Empathy.
Don’t think of your customer, think like them. If you would, you would never dilute your established authentic Mexican restaurant brand (which is about an authentic and cultural food experience) with Irish pub chatter (which is about pints in quantity rather than quality). While dining at said restaurant, I saw a tabletop advertising their ‘other’ completely unrelated venture and it turned me off in an instant. So much so that I started coming in only once every month instead of once a week. If the owner would have thought about why people loved her restaurant, she would have ensured to separate the two businesses (A Brand Architecture exercise would have made that crystal clear), their respective audience and outreach.
This particular venture experienced organic growth, and that often leads to brand disasters. Thinking like your customer is the single most important thing you can do as an entrepreneur while establishing your brand, and the one that entrepreneurs tend to be doing the least. Next time you communicate on behalf of your brand, ask yourself: Is the whole enchilada worth the pint?
Brand Naming: Guess Who ‘Blue It’? A Lot Of Them Did.
When I caught up with our long-term collaborator Matt Dandurand of Media Contour the other day he mentioned that he came across a breed of hilariously ‘mis-named’ IT companies. He had to share this phenomenon with me as it was very hilarious, yet so awfully sad at the same time, and he insisted that I dedicate a blog post to it that can turn this whole thing into something educational for my readers.
I was doubtful.
Then Matt shared how, during some research he was conducting on IT companies, he came across a company named ‘Blue IT’. He thought it was funny, especially when typing the url. A quick Google search later he found a slew of them that blew it, all the same way.
Now I am not in the business of picking on a random company’s name, it seems a bit cheap, but I do feel this serves as a great pointer to the fact that naming is to be taken seriously, regardless of company size and industry. Ample time needs to be spent to ensure, yes, that you don’t blow it. This guide will help you. It focuses on what makes a great brand name, now that we know what makes an unfortunate one.
A Call To Arms: The Task Of Disrupting Gun Violence Is Now On Silicon Valley
I write about branding and not about politics. Not because I don’t have a viewpoint, but because there are many smart(er) people discussing politics, and I am smart enough not to touch the subject of politics in my professional life. That being said, last week’s rampage of a disturbed 22 year old in a California college town (who legally purchased his guns despite known doubts about his mental state) was yet another one of many gun-amok stories we read on a nearly weekly basis in the United States. This is about politics, yes, clearly, but providing a solution to it is about society, intervention and invention, something I do like writing about.
Solutions are being brought to the table by amazing entrepreneurs (and funded by Silicon Valley VCs), such as the smart gun, but since the gun lobby won’t give in anytime soon, we won’t see these products disrupt the market. Now it is up to us brilliant civilians to intervene. If we can not stop guns from being freely accessible to anyone, what can be done to prevent these crimes from happening? Today I find this question more exciting than other disruptive innovation conversations, which for anyone who follows my thoughts knows that these are usually the conversations I enjoy the most. In times where apps can be written overnight to assist most any specific pain point, and Google (as a whole) can detect nearly anyone and anything online, how can it be that a clear plan of this attack was posted on YouTube a day prior to the massacre happening, and yet it still did happen?
Why can’t there be a search app, like mention, that specifically sifts through social media for phrases detecting sociopath attacks like these? Seems like it could be created easily and monitored by volunteer analysts. Call me naive, and it very well will not be quite that simple, but I have absolutely no doubt in my mind that some of the brilliant people reading this post can come up with an MVP that can be pushed into a live beta very quickly. If the ROI we see is one single potentially saved life, I feel that this in itself would be worth the effort. The government and the NRA let us down, now we look at you Silicon Valley; not because you are an easy target in 2014, but because I for one truly believe that at least the temporary ‘solution’ to disrupt this vicious cycle lies in the talented hands of a single programmer or an outraged entrepreneur. And there is no place better to look for that than in Silicon Valley.
CATEGORIES: Blog Startup Advice
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Fabian Geyrhalter is Principal of FINIEN, a consultancy specialized in launching brands for entrepreneurs.
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