Punching above your weight with a Minimum Viable Brand (MVB)
Big businesses spend a gazillion amount of money to increase awareness and influence the perception of their brand(s).
And of course, they have marketing people who spend every minute of their working day on various aspects of branding including curating content and briefing equally massive design and advertising agencies. Big money is involved.
So, how can your small company on a shoestring budget at best, or just sweat money, achieve what deep pocketed companies are able to achieve.
Well, thinking beyond your logo is half way there. You can do this by investing time and effort to create an authentic Minimum Viable Brand (MVB), and then ‘socialmediaring’ the hell out of it.
An MVB is a light version of a full brand strategy framework. It is a concept inspired by Frank Robinson’s Minimum Viable Product (MVP) and made famous by Eric Ries’s “The Lean Start up”.
An MVB provides you with the basic essentials to grow your company into ‘onetowatch’. The process will save you time and money in the long run and more importantly, it equips you with the right attitude and tools to face the market with a winning confidence.
You can do this at anytime, be it a confirmation of what you already know.
Here is a quick summary of how you can go about formulating your own MVB.
Six simple steps to an MVB.
1. Who? – Who are you, define values that are both unique and authentic to you. This can also include- how you want to be known (if you are establishing or introducing a new product/service) – “NAMING”
2. Why? – Why do you exist? Why should people care? Think of it as your elevator speech. If we had to answer this question for a universal visa application APP company called GLOBEFLAT, we could say;
“GLOBEFLAT is a groundbreaking app that will seamlessly process your visa application to anywhere in the world within 15 minutes, for only £10.99”
This is called defining “BRAND PURPOSE andDIFFERENTIATION”
3. What? What are you selling, or bringing to the table and why is it better than competition? The terms are “ATTRIBUTES” AND “BENEFITS” – These could be both emotional and functional
4.Where? Are you global? Local? regional?
5. For? Define the people you want to attract, while it might tempting to target every man and his dog, defining your target audience results in a more focussed approach to your marketing efforts. This is your “CORE TARGET AUDIENCE”
6. How: How is the way in which you describe yourDifference in the market andDistinction from competition. It needs to be inspirational and compelling enough to take notice. Think AA’s positioning; “ We are the fourth emergency service”.
7. Finally, This is the fun part. Visualise or translate all this with imagery, think of colours, personality and tone of voice (flirty, serious, geeky etc). For this part, the services of a graphic designer are highly recommended. This is called; BRAND VISUAL EXPRESSION