There are so many things to consider when starting a brand new company. Whether you’re providing products, services, or both, you need to establish yourself, get your finances in order, and hit the market. Further, you may need to secure locations, hire staff, and purchase tools and equipment. And of course, for most startup companies, their biggest focus is on defining and establishing their offerings. All of this is important, of course, but sometimes, lost in all of it is the importance of brand and brand tracking ( www.keltonglobal.com/Brand-Tracking ). Your brand is who you are as a company. It’s more than just your products or services; it’s your voice, your tone, the way you communicate with your audience; it’s the big ideas, the way you make people feel, your vibe, your priorities: your brand encompasses everything you are and the way you present yourself to the public.
Brand tracking is a way of looking at and measuring how your audience is interacting with your brand. It looks at things like your communications—things like ads and social media—and how people respond to it. Brand tracking looks at the words people use to describe your products or experiences with you. It looks at the emotional connection your audience has with you.
Many startups don’t invest in brand tracking right away because they feel that it isn’t a priority yet and that they should be established before diving into it. But here are a few reasons to consider investing in brand tracking as a startup.
Your Brand is Your Biggest Product
Many startups want to focus on developing and selling their product first and foremost, but the truth is that your brand is your biggest product. There is a reason why people favor well-known brands over no-name ones, even when the products are virtually identical. It’s because those big names have established a strong brand that connects with their audience. Marketing your brand rather than individual products makes it easy to grow and change your product selection in the future without losing your audience. They’ll still know who you are and you’ll still have their loyalty—and you’ll know it because of brand tracking.
Brand Tracking as a Navigator
The startup phase is actually the best time to introduce brand tracking because it can help you establish the direction of your company in it’s early days. Knowing how people are responding to you can help you make decisions that will set the tone for years to come.
Ultimately, operating a business of any kind is all about long-term strategy ( www.keltonglobal.com ). You can’t sustain your business without planning for the long haul, and you can’t plan with no information upon which to base your plans. Brand tracking allows you to see the big picture, track movement, and keep on top of how your audience feels about you. This will lay the foundation for a long and successful future, no matter what product, service, or idea you’re selling.
If you’ve found yourself thinking that brand tracking is a concern for the future, just remember: your business is more likely to have a future if you invest in brand tracking now.