#Asia When it comes to building a brand, “There is no silver bullet”

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What startups should keep in mind to build a successful brand image, according to Ruder.Finn Asia’s Yu Poh Leng

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When Founders first begin building their companies, it is quite rare they put branding on the top spot of the priority list. The trend is to single-mindedly focus on developing the product, raising funds, and gaining traction.

While it has become the norm in startup communities across the region, Ruder.Finn Asia Senior Vice President, GM Yu Poh Leng warns of opportunities that companies might have missed for not paying attention to the branding aspect of business.

“[Branding] is more than a splash of colours over a logo or name of the company. Branding is about the founder’s vision; and how that is translated into the product or service that’s being offered,” she begins.

She tells e27 a story about a startup Founder who made this mistake. Not only was the company had a great product, but the Founder himself also had an interesting life story that was relevant to the product.

There were plenty of opportunities for him to leverage on this feature of his brand, but he did not do it, leading to a rather grave consequence.

“I wasn’t involved in the marketing, but I think the product didn’t attract that second round of funding because of branding,” Yu says.

To prevent your company from making the same mistake, check out the edited excerpt of the interview from a leader in one of the more prominent public relations companies in the industry.

Also Read: A Singapore success story rebrands to pursue global market

What does building a ‘corporate reputation’ entail and why is it important?

Reputation is a key quality of every organisation and it is defined as what people think or know about the company.

To build a brand’s corporate reputation, we need to look at the various touch points on how the company relates to its stakeholders – be it employees, investors, regulators, customers, potential customers, etcetera.

Once these stakeholders relate well to the company, they will indirectly become your ambassadors and key influencers.

How should startups cultivate their reputation and what external agencies can they leverage on?

Everyone loves a good story. Tell and share your story.

Identify the sweet spot where you can create the emotional bond with your stakeholders. There are various tools and agencies that startups can use including digital agencies, branding firms, PR firms, media agencies, etcetera.

What are some of the caveats startups should take note of when it comes to building their branding?

Brand building takes time and money. There is no silver bullet. Every startup is different. What works well for one may not work for another.

It is also possible to get carried away in the process. I have seen startups blasting their name and product across the various communication platforms without due thought about the target market. This unfortunately is a common occurrence in today’s crowded startup scene.

Want to learn more about branding for startups? Don’t forget to secure your tickets to Echelon Asia Summit 2016 this June 15-16 at Singapore EXPO! e27 fans only: Enjoy an extra 20% off with promo code *SUMMIT20*!

The post When it comes to building a brand, “There is no silver bullet” appeared first on e27.

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