Catching my interest today is the new marketing”incubator” concept…connecting entrepreneurs with “marketing mentors” for advice. It poses a great scenario that I think we will start to see much more throughout industries: the sharing of resources to provide benefits without the high costs.
This concept is seen as a growing way for new companies to improve on their branding without spending the big dollars that typically go into brand development, or even sometimes just a re-brand. These mentors from larger companies work on projects that could cost upwards of $50k, only taking a small percentage of equity in the overall success of the company.
One key concern fueling this trend is that smaller start-ups that cannot afford traditional marketing “get behind” with their branding. “In a world where image is key, they find themselves playing catch-up…Some tech entrepreneurs are oblivious to the importance of branding. They would tell people ab out the technology rather than focusing on what problem the technology solved.”
In today’s world, brand and image is probably one of the most important if not THE most important factor to do correctly. Although it can seem an easy place to cut dollars, skimping on traditional marketing only sets you back in your field. It is nice to know that there are programs encouraging entrepreneurs to continue in their marketing efforts at full speed.