Last week we told you what branding is, why it’s essential, and what is a brand frame. This week we’ll show you how to create a brand frame (and what all this has to do with pickled herring).
The Elevator Pitch
We like to start with the elevator pitch. Remember that sui generis we mentioned in the last post? It should translate with mathematical precision into X (you) does Y (what it is that your product/solution does) for Z (your particular customer) using a, b, c (your secret sauce).
On the face of it, creating an elevator pitch is straightforward. But, in reality, it is hard to distill everything you do into a single Y. Yet weeding out everything that isn’t necessary, and determining your one overriding benefit to your customer, is essential not just for branding. It touches every aspect of your Company: where to put your R&D resources, what markets to develop, which customers to target.
Then there’s the a,b,c – which is often called “the secret sauce” in industry jargon.” And no, it should not be your technology. Instead, it should be what your technology accomplishes.
One last note: an elevator pitch is what it is – a description of what you do to a random passerby in the elevator. So it should be understandable to the layman.
One last note: you can also write your elevator pitch in the form of X (you) enables Z (your customer) to achieve Y (what your product/solution does) using a, b, c (your secret sauce).
The Vision and Mission Statement
So what’s the difference between them, you ask? They could be the same thing, but often they are not. Instead of explaining, let us show you some examples:
| Vision Statement | Mission Statement |
| Bring inspiration and innovation to every athlete* in the world. (*If you have a body, you are an athlete.).” – Nike | Create groundbreaking sports innovations, make our products sustainable, build a creative and diverse global team, and make a positive impact in communities where we live and work – Nike |
| To accelerate the world’s transition to sustainable energy – Tesla | To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles – Tesla |
Please don’t skip this part. Many Israeli startups will find vision and mission statements outlandish and unnecessary. They both, however, embody the spirit of your Company. The same spirit you try to convey to investors, customers, and no less important – potential employees. Once you capture that spirit in writing, you’ll have something truly exceptional and worthwhile to tell them.
Defining Your Market
In this process, you start with the macro and move into the micro:
- First, define your market: size (TAM, SAM, SOM, anybody?), maturity, players, competition. You should already have this prepared as part of your investor deck and business plan.
- Create a map of your echo system, including a competitive analysis of your direct competitors: their positioning, messaging, features, growth trajectory (if you can find it), and financing.
- Build your buying personas: your direct customer in the Company (there could be more than one). It should include a photo representing this person, their demographics, educational background, their boss and subordinates, how long they have been in the Company, how they are judged, their pain points, and their advancement trajectory.
Unique Selling Proposition
Now and only now – when you know what your competitors are saying and who your customers are – create a list of your unique selling propositions.
Do this now and not one minute earlier. Why? Because you do not want to be the only deli selling pickled herring in a neighborhood full of Russian ex-pats – but doesn’t know about it, so doesn’t advertise it. You’d be surprised how many of our customers went through a branding process, only to realize that they have exciting and unique offerings they didn’t foresee.
The Final Deliverable
The final deliverable – your brand frame – should be a PowerPoint presentation containing all the above. This document is the DNA for everything: from SDR scripts to marketing collateral to job postings. Now, take this presentation and find a design company. Finally, you’ve reached the fun and easy part of your branding process.
For Part 1 – click here