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The startup graveyard is filled with companies that had a perceived product-market fit, but were overcome by competitors in part because of ineffective positioning and branding. Early in the life of any startup, finding a simple yet meaningful name and determining an effective branding strategy can contribute immensely to its success - or if not done correctly, its failure. In the video below, Aaron Patzer explains that focusing on naming and positioning is crucial for startups to gain traction especially if you are entering a crowded market, so it is essential to devote the time and effort necessary to get it correct.
Aaron Patzer is the founder and CEO of the personal finance management platform Mint.com, which was acquired by Intuit in 2009 for $170 million.
In the talk below from the Silicon Valley Founder Institute, Aaron outlines the scientific approach he took to create a branding and positioning strategy that helped him dominate the market as a late comer. He stresses the importance of finding a simple and meaningful name, and getting face to face feedback on positioning statements from “normal” people outside of the tech circle.
SVFI June 22 Naming & Branding - Aaron Patzer by Founder Institute
You can also check out the video of this talk below:
