5 Tips for StartUp Business Development?
The creation of long-term value for an organization from customers, markets, and relationships could be termed as business development and this could be the question that every StartUp would like to know.
Many of the business development ideas revolve round one word ADVERTISEMENT and here we have some tips gained from critical evaluation and real-life business development experience.
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1 – We need to market of our brand’s core value to customers
Customers are created only when they experience the core value of a brand/service. Core value could be easily identified when we put a cap as a customer.
Let us imagine you have decided to buy a mobile phone, then you will be evaluating pros and cons through online or offline or friend’s recommendation or advertisement, then you narrow down your decision based on few values, it could be ownership, distinction, and value for money, etc. So your decision of buying a phone is determined by the core value of the product or brand.
2 – Identification and reflection of core value among the targeted customers is the key in brand building
Core value has to be identified based on organizational core competencies and an optimal core value has
- To undergo risk assessment
- To be implemented in all business process
- To be reflected among the targeted customers
Few examples of core value might give some real insights; core value of apple Inc is Think different and of Volvo is Safety. If we go into minute details why these brands become success was purely because of the consumer experience of their identified core values
3 – The core value is not just a word on paper; it has to live in each and every person of the company, such a way that it can be reflected among the targeted audience.
We all know apple Inc is one of the successful technology company came to limelight under the leadership of Steve Jobs. He was very particular of the reflection of their core value – Think different in each and every activity and most of iphone loyal customers were experiencing Think different in their gadget, result doesn’t require an explanation. Not commenting on the news about loss of market share after the death of Steve Jobs.
4 – Branding is a scientific process and creating brand principle is time consuming but practising the same will reduce the overall expenses and ensures optimal returns.
Branding is the process of communicating the core value to the targeted customers. An effective branding will give a reflection of the brand’s core value among the customers. Branding involves various principles like brand architecture, brand identity, nomenclature, depiction, promise, pattern and much more.
5 – Advertisement must follow the branding principles and it should surprise and surpass the targeted customers. Moreover it should give a long lasting impression about the brand
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Whether it is digital or traditional media advertisements are just a creative representation that reflects the core value among the targeted customers by following the principles of branding. The strategy we need to use for traditional media and digital media is entirely different. In one word advertisement is just Surprise and Surpass