As a bootstrapping-born startup with low-resources and a strong capital-efficient-DNA we had to face the uncomfortable decision of favoring short-term growth over the principles we believed in. Far too often. We always loved branding & design, we just couldn’t afford them.
Before I go forward, here are some key facts on the why every startup should prioritize branding:
- 81% of consumers find the brand value to be a deal breaker in their purchasing decision
- brands with a clear mission impacting society register a 45% higher rate of loyal customers (Edelman Trust Barometer Report)
- 1 in 5 lost deals in our b2b sales pipeline (we built a SaaS for clubs & festivals called Nightgraph) blamed the lack of brand in the industry as cause for postponing the collaboration.
- our internal employees happiness score grew 14% since we started focusing on our brand
All this makes sense. So, having clear why we urgently needed to work on our identity, it was time to learn how to. First of all, what is a brand? Typeform’s definition nailed it.
Branding is a set of written and visual tools to express a company’s personality and project a unique vision.
Now, the easiest way is probably to rely on external agencies to drive this complex creational process. In our case, after scarce results in finding the right marketing agency (unsatisfactory or out-of-budget proposals) we opted for an internal re-branding process. We knew that it was not gonna be an easy path, but we were so passionate about it that a team of 8 people from different departments was spontaneously created to tackle this challenge. We called it the brandstormers, and its first task was to spend as much time possible listening to people, employees, friends, customers, investors and strangers.