{"id":11549,"date":"2023-08-29T18:23:45","date_gmt":"2023-08-29T18:23:45","guid":{"rendered":"https:\/\/mysourcefunding.com\/leadership\/13-is-a-winner-in-building-strong-startup-brands\/"},"modified":"2023-08-29T18:23:46","modified_gmt":"2023-08-29T18:23:46","slug":"13-is-a-winner-in-building-strong-startup-brands","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=11549","title":{"rendered":"1+3 Is A Winner In Building Strong Startup Brands"},"content":{"rendered":"<div>\n<p>\u201cWorld-leading businesses think about what the brand stands for, what it stands against and where it should go next.\u201d So says Interbrand introducing its 2023 survey of best global brands.<\/p>\n<p>Wondering what a brand is worth? The Interbrand report rates the top 100 brands for 2023 and estimates their value. For example, the brands of the two best known tech companies, Apple and Microsoft, are valued at $482 billion and $278 billion USD respectively. In 2013, just a decade ago, Apple was ranked 22 and Microsoft 35, and their value was considerably less. Brands not only have worth beyond current company revenues, but it\u2019s worth often changes in response to events inside and outside the company.<\/p>\n<p>This article points out how smart companies are utilizing a simple but robust brand strategy to build customer enthusiasm. Call it the 1 + 3 method.<\/p>\n<p><strong>To start, how do brands establish value? <\/strong><\/p>\n<p>How do brands build value beyond the company\u2019s current and recent revenues? Interbrand describes the essential requirements of brand value this way:<\/p>\n<p>\u201cWe know that in an age of abundant choice and speed of innovation, customers\u2019 expectations are moving faster than businesses.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<p>\u201cWhile incremental change is still essential, it\u2019s no longer sufficient. It takes bold moves to leap ahead of customers and competitors. We call these moves iconic moves.\u201d<\/p>\n<p>What does it take to build an \u201ciconic\u201d brand? Interbrand points out that the fastest risers significantly outperformed other brands on a few key factors:<\/p>\n<ul>\n<li><strong>Direction<\/strong>: Interbrand starts with the importance of setting clear direction: who you are, whom you serve and support, how your company creates value for its customers, talent, and partners, and what makes your company distinctive.<\/li>\n<li><strong>Communication<\/strong>. Make sure everyone in the organization has a deep understanding of the purpose, key values, and strategic direction of the business, and are working together, in unison, towards the same ambition<\/li>\n<li><strong>Agility<\/strong>: Speed matters. Move fast. Bring on new products and services that increase the connection and satisfaction of customers and, as Interbrand points out, pivot where needed to address changing customer needs<\/li>\n<li><strong>Participation<\/strong>: Bring people on the \u201cbrand journey\u201d with you and make them part of the movement to create an engaging brand experience and reputation.<\/li>\n<\/ul>\n<p><strong>The 1 + 3 rule is your brand mantra<\/strong><\/p>\n<p>Brand building is storytelling, and the tools of the trade are words, visual media, interactions, connections, and experiences.<strong> <\/strong><\/p>\n<p>For example, as Supportwave (formerly Nerdapp.com) enters the US market from early success in the UK and EU, it\u2019s taken several actions to build brand recognition. Taking a workshop approach, the team recognized that its brand combined technical excellence, local presence, and on demand support to its growing SMB and Enterprise clients.<\/p>\n<p>At the core of their brand building campaign is a fundamental ambition: \u201cWe are specialists in optimizing IT operations, connecting companies with talented on-demand IT professionals and solving their problems expertly and cost efficiently.\u201d That ambition is reinforced through a trio of reinforcing storylines that extend the brand, and make it \u201creal\u201d by sharing client testimonials and endorsements:<\/p>\n<ul>\n<li><em>We make your business smarter and more agile by scaling your operations at reduced cost<\/em>. \u201cSupportwave has become a valued team member, increasing our capability at an affordable cost.\u201d (CTO)<\/li>\n<li><em>With Supportwave\u2019s support, the lights don\u2019t go out<\/em>. &#8220;Supportwave greatly improved the efficiency of our IT support, thanks to their prompt and effective response delivered by dependable IT Specialists. (CEO)<\/li>\n<li><em>We help small businesses become big businesses<\/em>. \u201cAs a growing corporation, it is important for us to have a reliable partner like Supportwave to service our multiple locations\u201d. (IT Director)<\/li>\n<\/ul>\n<p>Supportwave also builds brand through reviews by Trustpilot and other review sites that have given the company top ratings along with comments like \u201cEasy booking and great tech experience\u201d or \u201cThey did what laptop manufacturers claim couldn\u2019t be done.\u201d These testimonials are right in line with the 1+3 approach.<\/p>\n<p>Supportwave\u2019s 1 + 3 brand strategy has been converted by their marketing team into a disciplined program of well-placed articles and updates, podcast participation, webinars, in person presentations by the Supportwave team to key audiences, and a revamped website. These efforts, and on-ground growth of the sales and communications team, have significantly lifted name recognition and client interest. And, together with an attractive work and pay package for technical talent, Supportwave\u2019s brand building efforts are proving immensely helpful in recruiting.<\/p>\n<p><strong>Is your brand telling the world about your company\u2019s \u201cjob to be done\u201d?<\/strong><\/p>\n<p>The 1 + 3 brand building strategy is based in part on the work of Harvard professor Clay Christensen and his concept of \u201cjobs to be done\u201d. As the Christensen Institute points out, \u201cPeople don\u2019t simply buy products or services, they \u2018hire\u2019 them to make progress in specific circumstances &#8230; Understanding the \u2018job\u2019 for which customers hire a product or service helps innovators more accurately develop products that align with what customers are already trying to accomplish.\u201d<\/p>\n<p>Here\u2019s how Interbrand describes it:<\/p>\n<p>\u201cIt\u2019s increasingly difficult to fit the Top Ten into categories (what do Apple and Google do?), but things become much clearer when taking the perspective of customer jobs to be done (what aspects of consumers lives they address). Apple helps us Connect, Do, Belong, Play, Pay and \u2013 more recently \u2013 Thrive. Rumor has it that soon it may help us Move, too. Google helps us get many jobs done, like Learn, Connect, Move \u2013 and even Dwell. Nike \u2013 not a FAANG \u2013 helps us Thrive and Express ourselves.\u201d<\/p>\n<p>\u201cUltimately, these organisations are building businesses around their brand (in contrast to the traditional approach of building brand around a product) \u2013 and it\u2019s setting them apart from the rest of the pack.\u201d<\/p>\n<p><strong>Is brand building a 24\/7 priority for your leadership?<\/strong><\/p>\n<p>Gigged.ai is another good example of how a company can bring creativity and urgency to their brand efforts. Early on, this startup bought time in a huge billboard in downtown London, creating a sensation that helped raise early seed funding. CEO Rich Wilson and CTO Craig Short are tireless in bringing their story to the market, actively participating in conferences, even appearing in Shark Tank, and contributing insight through their active and imaginative blogsphere (including articles by this writer). But what Gigged.ai does best is continuously improving their customer experience through pioneering work in private talent clouds, applying AI to their marketplace in areas like project scoping and budgeting (saving clients and talent significant time), and expanding their community of top talent.<\/p>\n<p><strong>Are you building brand now for the economic recovery to come?<\/strong><\/p>\n<p>A prior article reminded freelance entrepreneurs that, as BP Chair Helge Lund once said, \u201cThe future has not been canceled.\u201d While near term pressures may reduce marketing budgets, it needn\u2019t reduce brand building creativity. As Crunchbase notes, \u201cVenture capitalists have amassed substantial \u2018dry powder\u2019 just waiting to be invested. As the economic climate stabilizes, VCs will seek out promising startups to fuel growth and innovation.\u201d<\/p>\n<p>A few VCs like Big Sky Capital are actively investing now, and finding exciting startups like Cerebra.kz and CrediLinq.ai. More investors will return over the next several months and deploy their \u201cdry powder.\u201d And, as confidence in the global economy picks up, startups in the freelance space that demonstrate low-risk and high growth potential, in part by building outsized brand recognition are likely to attract interest and investment.<\/p>\n<p>Viva la revolution!<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><\/h2>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/jonyounger\/2023\/08\/29\/13-is-a-winner-in-building-strong-startup-brands\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cWorld-leading businesses think about what the brand stands for, what it stands against and where it should go next.\u201d So says Interbrand introducing its 2023 survey of best global brands. Wondering what a brand is worth? The Interbrand report rates the top 100 brands for 2023 and estimates their value. For example, the brands of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[76],"tags":[],"class_list":{"0":"post-11549","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-leadership"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>1+3 Is A Winner In Building Strong Startup Brands | Brandiary<\/title>\n<meta name=\"description\" content=\"\u201cWorld-leading businesses think about what the brand stands for, what it stands against and where it should go next.\u201d So says Interbrand introducing its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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