Launching a new brand is both exciting and scary. As we come out of our launch, we’ve realized there were a lot of challenges we had to face to get through our launch. And while not everyone will find this information useful, we hope there’s at least one person out there who could benefit from our experience. So, here are the things we've found that need to be taken into consideration when launching a brand.
Although we talked about things we learned while manufacturing our own products before, we wanted to discuss the vital role a manufacturer plays in launching a new product brand. Finding a manufacturer that meets the specifications of a business can be extremely difficult. A lot needs to be taken into consideration when deciding on a manufacturer. Is their quality up to standard? Will these standards hurt or help the brand? What about their turnaround time? We were extremely lucky to find the manufacturer that we’re currently working with, but it took a lot of hard work. And, since the product is what the brand is built around, how it’s made is extremely important.
Growing a business and raising brand awareness is a huge hurdle for startup companies like ours. After all, there’s usually little to no knowledge out in the public to use as a springboard that gives you step by step instructions on what will work. Every company is different. The products are different, the time the company started is different. This means the marketing has to be thorough and extremely specific. Things like the presentation of our business; our logo design, websites and packaging needs to be thoroughly considered. Who the target audience is and what the best ways to reach that audience need to be taken into consideration. How a marketing strategy is planned and executed can make or break a brand.
This is a tricky challenge to navigate. First, it needs to be decided if taking on investors is the best choice for the business. Then, the people who would even be interested in investing need to be found and approached. And that’s only the beginning. How much equity is going to be given up, if any, will be a huge point of contention. How the investment will be paid back or how the investor will be compensated will take a lot of negotiating. And, this all has to be done while considering what’s best for the brand and business as a whole.
When a brand is first being launched and a company is just starting, it can be extremely tempting to hire people who will work for the least amount of money. But, employees are one of the biggest brand advocates a company can have, so it’s extremely important to hire people who are committed and excited about their jobs. This can be hard to tell at first, but spending time hiring the right people is well worth it. However, this isn’t the end. Employees need to be happy to be successful, so how they’re treated, compensated, and trained still needs to be taken into consideration.
Launching a new brand isn’t easy, but if you have the drive and passion, you can launch and grow your brand to be successful.