Having worked in ad services for many years (to the point where I really can't stand the words 'brand', 'branding' and 'brand equity') I just think "reputation" instead. Because that's what it is.
I have a background in branding so I don't want to throw cold water on this post, but you can take things a step further: For a startup your product is the most engaging aspect of your brand — so get it right.
<grumpy opinion>
A single color scheme is the second-most immature form of branding, just behind combining initials into a logo.
</grumpy opinion>