You have decided to launch a line of leather handbags… You have been working on this project for 6 months, in the evenings, on the weekends, between two meetings and secretly you can already see your line of bags being a total hit on social networks and in concept stores in Paris and New York City!
Your little creative genius within is suddenly brought back to reality when you hear: “That’s great, and what exactly is your target – well, I clearly understood that it’s women but who more precisely? What solution do you offer them compared to all the brands already present on the market?”, “Ah, the name is interesting but why does it slightly remind me of an Oriental coffee brand?”.
After meeting several creators in their “early stage”, I noticed that they would often repeat the same mistakes…
Mistake #1: Wanting to satisfy everyone
For fear of missing out on future sales opportunities, you don’t take a firm position – instead, you slightly adapt the story according to the person you’re talking to.
Talking to everyone is like talking to no one.
So do take some time before you start sketching, prototyping and designing your brand’s visual identity:
Define your brand positioning:
- identify your ideal targets (your buyers persona) and the best ways to reach them
- value what makes you unique (your strengths and assets – your value proposition) so as to differentiate yourself from your competition
- clarify your positioning in a single sentence – your prospects need to immediately know and understand what your brand actually offers.
Mistake #2: Not having clear objectives
When launching a brand, it is essential to clarify your brand objectives from the start: reflect on your project before officially launching it – what are your expectations and the means at your disposal to help you achieve them?
In order to test the accuracy of your objectives, you can use the S.M.A.R.T. (Specific, Measurable, Acceptable, Realistic, Timely defined) objective technique.
- Is your goal Specific? = Your goal should be clear and specific, otherwise you won’t be able to focus your efforts or feel truly motivated to achieve it.
- Is your goal Measurable? = It’s important to have measurable goals, so that you can track your progress and stay motivated.
- Is your goal Achievable? = Your goal also needs to be realistic and attainable to be successful. It also needs to be accepted by all participants.
- Is your goal Realistic? = Your goal needs to be challenging enough to make you go the extra mile, but realistic enough to be achievable.
- Does your goal include a Target date? = Every goal needs a target date, so that you have a deadline to focus on. Examples of S.M.A.R.T goals: Reach X USD of total turnover by January 1st 2021 / Open 5 international POS by January 1st 2021.
Mistake #3: Focusing on your brand name as a first step
While a brand name does come into play very early on in the brand creation process – as from the very beginning you need to make sure that your brand name is legally available – looking for a brand name before you have even worked on the branding of your brand can actually be risky.
If your brand name is your own personal name, you are probably taking less risks. This decision can be easily explained: your creation is your signature. However, if you are looking for THE brand name, don’t just choose it because it “sounds good”…
It is essential to determine your positioning, your offer, identify your target audience, upstream distribution channels… At the risk of ending up with a name that is not very consistent with your brand’s environment – In another article, I will share with you the “5 tips for finding your brand name”.