The Startup Marketing Dilemma

Because of the pandemic, many people have been forced to take a fresh look at how to make money to survive. Many have seen this period as perfect timing to take the leap and try to bring to life an idea they’ve had a long time, but never got around to testing it. Spinning up a company isn’t for the faint of heart, but the process can be made much easier with a plan. And every plan must include marketing.

Don’t jump straight to the chicken. You have the “big idea” or new product, so naturally, you want to jump immediately to execution and delivery. And making money! But in this case, it’s the egg first. Before you even think of hatching your new direction to the world, it’s imperative you make sure all of your ducks are in a row. (Or in this case, chickens)

It starts at step one. Naming the company or product or service. That’s your first step towards marketing (at least it should be). Establishing your company “voice” as well as the look and feel is fundamentally critical. But many people overlook this and save it for last. Hey, it’s ‘just a name’ right? Because for generations, marketing has been viewed as something to simply “get customers when we’re not doing so well.”

​So let’s start with the company name, we could write an entire PHD thesis on why and how this impacts your ultimate goal. (see below) Starting with the name, these first few marketing tasks are WAY more important to success than most know. Here’s a very brief list, in order, of the key marketing areas of focus when establishing a new business or product:

1. Establish Your Company Goals

2. Establish Your Brand Personality

3. Create Your Brand Voice and Tone

4. Naming Examination and Selection

5. Logo Examination

6. Corporate Color Palette

7. Tagline Creation

8. Internal Brand Extension (How brand touches all aspects of the business)

9. External Brand Extension (How brand will touch all outside experiences)

10. Marketing Strategy & Initial Branding Materials

​You see, it all starts here when it comes to marketing. What might feel like a step you can do over a few beers with neighbors, is actually the foundation for everything to follow. Sadly, many skip this and the names they choose are pretty “anemic” for future marketing, or success.

They “Just Did It.”

Perhaps one of the most credited marketing strategies, launches and on-going campaigns begins and ends with Nike.

At first, they were a “waffle Shoe” literally made with a waffle iron, and a guy with a passion and vision to help running become more mainstream and effective. Phil Knight knew how important image and branding was going to be for the success of his dream, so he spent a lot of time making sure everything fit his goals, down to the smallest detail.

“Early in its history, Nike understood that the key to increasing its profitability is to offer the most advanced products on the market and by building a strong and immensely popular brand reputation. Incorporating innovation into its mission and vision statements was a phenomenal move by Nike, because it stressed to the public and its employees just how important it was for it to be the most innovative company in its industry. This led to major breakthroughs in the company and has prepared it for future growth.”

• Patrick Flynn | University at Albany, State University of New York

View his thesis about Nike and their marketing plan here

Summary

Marketing matters. Every single step. And no matter how big or small your idea may be, it deserves the process to build a strong foundation for growth, because when it does “make it,” your initial marketing will stand tall against future growth plans when done corectly.