Since joining SDSI last October, I’ve learned a great deal about the action sports industry. Not only have I been exposed to new sports related products, technologies, brands and ideas, but I’ve also had the opportunity to further my knowledge with start-ups and business in general.
One of SDSI’s signature programs is Springboard, a mentoring program that pairs qualified entrepreneurs and industry veterans with start-up companies for hands on mentoring.
Together, the team works to fine-tune company business plans, create a compelling commercialization strategy and prepare for capital funding opportunities. Having sat in on a number of Springboard panels, it is truly amazing that not only does this educational program exist, but it is FREE.
While there is a plethora of commonalities that all start-ups share, what I find to be the most interesting is how sports and consumer product companies set themselves apart from other industries.
The area where I’ve witnessed the biggest differences is not with marketing strategies, but in branding. Branding is what can really make or break a company and it’s one of the ways to differentiate your company/product or service from the competition.
According to the American Marketing Association, a brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers. Furthermore, brands have evolved to include identity and it impacts the personality of a product, company or service. Here are four things to keep in mind when devising on your brand:
- Identify Your Target Market: Before you start brainstorming ideas, it’s important to understand what makes your product or service unique from the others. Who are you trying to reach in your marketing efforts? This can be determined by numerous factors such as demographics, age levels and more. Having a better understanding of your target market will help tremendously with the branding and how you move forward.
- Pick an Identifiable Logo: Logos are extremely important because they symbolize your brand. Make sure that you have an expert designing the logo who understands the company’s mission, goals and products because the logo should convey information on the company. Logos don’t have to be fancy, but they should be memorable.
- Build a Solid Website: Not only is it important to have a professionally designed website that’s easy for visitors to navigate around, but it’s also essential to have a look and feel that matches who you are. In addition, make sure the colors you use on your website are consistent with the colors you use for other marketing materials.
- Have a Social Presence: The rule of thumbs is if your stake holders, customers and partners are on social media, you need to be there as well. Social media is just as important as a website and this is where the company can communicate. Set up profiles for your company on Twitter, Facebook and other social networks that you feel are important. This will only help your brand!
Having something to stand for is a great way to build a brand. It’s important to always remember that you are your brand and it’s crucial that you keep your word, do what you say you’ll do and stand by your mission.
SDSI invites you to join us in February for an educational event on branding that will include advice from some of our top experts on brand building and creating brand awareness through marketing. You’ll also be able to mix and mingle with other like-minded folks and compare brand notes. Please check our website and newsletter for more information. We look forward to seeing you.
For more information, contact Lisa Freedman at LFreedman@connect.org or Renne Catalano at RCatalano@connect.org and follow us on Facebook and Twitter.
