When to Brand Your Business
When should you brand your business or a product your business offers? Businesses launch or polish brands in a number of circumstances. Create a brand related to your business when you
Open a new business. When you open a business, be ready to project your brand image from the first second that you throw open the company doors, hook up the phone lines, or launch your Web site.
Introduce a new product. When you introduce a new product, you have to decide whether the product you’re introducing will enter the market under your business brand or as its own brand, with or without a visible link to your business brand.
Fundraise for a nonprofit. Successful fundraising campaigns operate under the auspices of well-known, well-regarded, well-branded organizations.
Before your organization launches a fundraising campaign, establish credibility and trust by first building a brand image for your organization that prospective donors know and believe in.
Take your business public. Investors direct dollars into businesses that they trust to be well-led, innovative, successful, and capable of rising to even higher levels of growth and profitability.
Go global. Some businesses want to sell in international markets. Others want to establish themselves as global companies with operating presences in a range of countries.
Raise venture capital. Venture capitalists are investors who look to invest in companies with strong leadership, strong business concepts, and strong positions in growing market arenas.
Merge with another business. Businesses merge, but there’s really no such thing as a brand merger. Combining Brand A with Brand B doesn’t result in Brand A+B. It either results in a retooled version of Brand A, a retooled version of Brand B, or an all-new Brand C.
Dedicate extra time, effort, and dollars to gain complete understanding and buy-in from the staffs of both organizations before you take the retooled brand or the new brand public.