Determining how to build a solid brand strategy is an essential component of every great business plan. While a business plan helps to guide entrepreneurs on how to navigate the current marketplace, and develop a method for generating an annual revenue stream- brand strategy is the intentional planning of how your company will grow and develop its image over time. Developing a brand strategy will help you identify the core philosophy and reason your company exists, what it stands for, and how it connects with and serves its customers. When done right, the finished product is a scalable, repeatable strategy that will position your brand for growth year after year.
To help make the creation of a great brand strategy more approachable, we’ve provided a few key questions you should be asking yourself:
What do my current customers think of my brand?
Well, do you know? Are you monitoring customer feedback in a meaningful way that empowers your brand with the knowledge and experiences being shared by your customers? If you can’t confidently speak on the behalf of your clientele, then it might be worth having the conversation at your next meeting with your marketing team. Survey Monkey or Google Forms are great tools for getting feedback from your current clients.
Do my employees align with my brand?
Every time a customer interacts with one of your employees, they are having and experience with your brand. So, it’s crucial that your employees are all on the same page in regards to your brand strategy. Internal company audits can be incredibly useful for gaining insights into how your employees view your brand, what they currently know about your brand, and by identifying patterns in customer interaction.
What makes my brand unique?
Hopefully, your brand is unique in some form or fashion. Today’s world of commerce is not kind to those who serve average products to the “average Joes”. If your brand is going to be transferable to markets of new media, you’ll need to identify your niche, or your unique value proposition. Once you’ve identified what makes your brand stand out, your brand’s messaging acts as a megaphone to let your customers know who you are and why you’re worth considering.
Is my brand consistent?
This one is pretty simple, is my brand messaging and image consistent? A quick evaluation of your current marketing materials will show you how successful your brand has been in keep a consistent message for your current and potential customers.
What’s my brand’s Big Idea?
The “Big Idea” serves as your brand’s guiding principle, your implicit brand promise, your competitive advantage, and more. The Big Idea will guide you in every aspect of your brand strategy, from new website development to customer interfacing. So, what is your brand’s big idea?