Don’t let the economic downturn fool you: a small investment in brand building strategy now will reap rewards later on. I know budgets are tight, but just paying for someone to make you a pretty logo with no brand strategy behind it will hurt you in the long run. This oldie but goodie article from Business Week reviews why branding matters.
As we emphasize at Red Slice, don’t spend one cent on marketing until you determine your brand strategy. Your brand, as the article steps through, is your personality, its the promise you make to the world and its your “lifestyle.” I promise you that if you don’t think through your brand strategy before developing your logo, website, etc. you will be hurting later on. Brand strategy can be done in a matter of weeks, not months, if you really devote the time to it.
I love this quote by Steve Manning, managing director of Igor, a branding and naming firm based in SF: “If you have not specified your company’s brand, don’t spend another dime on marketing until you do. While everyone’s familiar with megabrands such as Apple (AAPL), Nike (NKE), and Virgin, small companies can also develop potent brands and market them successfully.”