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Branding goes beyond logos and colors. It's about shaping how people perceive your company. Great brands like Disney and Volvo have built strong associations with magic and safety, respectively. It takes time and consistent marketing efforts to make a name stand for something more than its literal meaning. However, a bad name won't necessarily harm a good company. Purpose, positioning, and personality play crucial roles in developing a brand.
Naming strategies can involve brainstorming based on synonyms, antonyms, related words, or cultural references. It's important to consider trademark availability, domain availability, distinctiveness, timelessness, and ease of pronunciation. While empty vessel names like Yahoo or Google can be memorable over time, they require extensive marketing efforts to create meaning. Balance between being suggestive or evocative and being descriptive is key. A thorough naming brief and a collaborative brainstorming session can help generate a shortlist of potential names.
A compelling purpose defines why your company exists beyond financial gain. It should communicate the change you want to bring to the world. Successful examples include Google's mission to organize information, Nike's vision of inspiring every athlete, and Logic Loop's purpose of making operations data work harder than operations people. The purpose needs to be clear, actionable, and align with your target audience's values.
Positioning is how your target audience perceives your product or company. A good positioning statement clearly communicates your value proposition and differentiates you from competitors. If customers and employees provide inconsistent answers about what your company does, it may indicate a positioning problem. Defining your target audience and creating a detailed model persona helps ensure that your positioning aligns with your customers' needs and aspirations.
In the podcast episode, the importance of starting a business with a focused target audience is discussed. It is emphasized that as an early stage company, it is crucial to find an audience that is big enough to support significant market share. The example of targeting 'tech-savvy dads' is given, highlighting that focusing on a specific group can lead to successful domination in that market. The episode also explores the process of defining the target audience, understanding their problems, and positioning the product or service to address those needs.
The episode delves into the significance of defining brand personality and its role in marketing and visual design. The concept of brand personality is compared to a person's personality, highlighting the need for brands to have distinct traits. The episode suggests using frameworks and statements to define brand personality attributes, combining two dimensions of brand personality to create tension and interest. In regards to PR, it advises having a clear and compelling brand story, managing expectations for coverage, and leveraging local press to make stories relevant and interesting. Additionally, hiring a marketing professional is discussed, with considerations for when it's appropriate to bring one on board.
What makes a great brand? After working at Google and Square, Arielle Jackson has spent the past eight years consulting startups on how to create powerful messaging that works. In this jam-packed episode, she shares how to pick a winning name for your company, create a brand purpose that excites your team and customers, and position your company and its products for success. You don’t want to miss this one!
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Find the full transcript here: https://www.lennysnewsletter.com/p/the-art-of-building-legendary-brands
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Where to find Arielle Jackson:
• Twitter: https://twitter.com/hiiamarielle
• LinkedIn: https://www.linkedin.com/in/ariellerjackson/
• Course: https://maven.com/arielle/startupbrandstrategy
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Where to find Lenny:
• Newsletter: https://www.lennysnewsletter.com
• Twitter: https://twitter.com/lennysan
• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/
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Thank you to our wonderful sponsors for making this episode possible:
• Flatfile: https://www.flatfile.com/lenny
• Unit: https://unit.co/lenny
• Athletic Greens: https://athleticgreens.com/lenny
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Referenced:
• Positioning Your Startup Is Vital—Here’s How to Nail It: https://review.firstround.com/Positioning-Your-Startup-is-Vital-Heres-How-to-Do-It-Right
• Three Moves Every Startup Founder Must Make to Build a Brand That Matters: https://review.firstround.com/three-moves-every-startup-founder-must-make-to-build-a-brand-that-matters
• What I Learned from Developing Branding for Airbnb, Dropbox, and Thumbtack: https://review.firstround.com/what-i-learned-from-developing-branding-for-airbnb-dropbox-and-thumbtack
• Positioning: The Battle for Your Mind: https://www.amazon.com/Positioning-Battle-Your-Al-Ries/dp/0071373586
• Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life: https://www.amazon.com/Alchemy-Curious-Science-Creating-Business/dp/006238841X
• The Vanishing Half: https://britbennett.com/the-vanishing-half
• The Mothers: https://britbennett.com/the-mothers
• Nik Sharma’s weekly newsletter: https://www.nik.co/subscribe
• How I Built This: https://www.npr.org/series/490248027/how-i-built-this
• In Depth: https://review.firstround.com/podcast
• Unseen Unknown: https://unseen-unknown.simplecast.com/
• Luca: https://movies.disney.com/luca
• Encanto: https://movies.disney.com/encanto
• Old Enough!: https://www.netflix.com/title/81506279
• The Sociology of Business with Ana Andjelic: https://andjelicaaa.substack.com
• David Ogilvy: https://www.oneclub.org/hall-of-fame/-bio/david-ogilvy
• Rory Sutherland: https://twitter.com/rorysutherland
• Seth Godin: https://seths.blog/
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In this episode, we cover:
[04:04] From making jewelry as a side hustle to launching products for Square: Arielle’s background[12:32] What makes a good name for a product or a startup[19:17] How to come up with a great name[24:59] How to run a naming brainstorm for the best results[31:09] Bad names and naming mistakes[34:17] Arielle’s brand development framework and when founders should implement it[36:02] How do you know when brand development is completed?[41:17] How long should branding take?[42:42] How to build a brand purpose that ignites excitement[48:51] Specific tactics for building your brand purpose[51:12] How to master your positioning[55:22] Why it’s important to stay niche when you’re mastering your positioning[59:15] The process of positioning and Arielle’s bar test[1:02:38] How to build a brand personality using the five big brand descriptions[1:07:39] Where to put brand and product positioning documents so they’ll actually get used[1:09:14] How startups can get PR[1:14:49] When should you hire a marketer?—Production and marketing: https://penname.co/
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Listen to the best highlights from the podcasts you love and dive into the full episode