New businesses are often unaware of the challenges and importance of knowing how to brand a consumer product successfully. The truth is, the odds are stacked against start-ups, and many fail because they focus too much on sales and product development often at the expense of defining thoughtful and significant brand experiences. If this sounds like you “all we need to deliver is a great product and the sales will come.” Unfortunately, this is not how it works today; marketing a product is more complicated, time intensive, and the consumer demands are higher than ever before.
Gaining early success requires going light-years beyond your product's features and benefits
Advancing in fast-moving markets means businesses across all categories are competing with one another for consumer’s attention. Attracting people in thoughtful ways across an ever-increasing number of customer journey touch-points is one path brands are taking to stand out, and they're succeeding. With desires for customized experiences on the rise, the pressure will be on for new and emerging businesses to measure up to what is often larger companies armed with big data, dream teams, deep pockets, and a deep marketing bench.
Given the challenging landscape and disadvantages of starting out, here’s the simple lesson I want entrepreneurs to consider, gaining early success requires going light-years beyond your product's features and benefits. If you genuinely want to be a formidable contender in the high-speed race for influence, then get serious, about committing the time, investing the capital, and recruiting the right experts to help you compete against big business.