Cultivating a small business means managing many moving parts. One part of your plan that is essential for longevity and growth is your brand, which incorporates a system of moving parts all on its own. While you may find it cost-effective to not waste time devising a strategy, you may be missing out on taking meaningful steps to grow your business brand. If you do decide you take the time to develop a brand strategy for your business you will be able to clearly communicate your value to others in a way they can understand and trust.
So what are the key components of developing a brand strategy? You mainly want to consider how to people perceive you, your product, service, or industry and if that aligns with your vision.
Here are 7 key components of a small business brand strategy
(1) Vision and Goals – This mix is the why behind your brand. Why are you creating a brand and what does your brand want to achieve?
(2) People – A brand is what others say about your business – Examples like, “PCs are more technical and Macs are more creative”, are brand statements. You need to go around and collect what people are saying about your business, your service, your product, the industry overall and then find what you want to associate your brand with and what you need to change.
(3) Brand Persona Profiles – Once you’ve identified the people make sure you take the time to draw out 3-4 of your ideal customer personalities – these brand personas will be the audience you shape your communication around.
(4) Brand organization – How does this brand support and drive your business goals? Where does it fit into the priorities of your establishment?
(5) Unique Value – What value do your offer that your customers or clients can distinguish from anyone else?
(6) Guarantee – Once you know your unique value think of what your customer is guaranteed to get from you ?
(7) Creativity – An important element of branding, your brand creative touches need to protected and uses as if it were your native tongue. Your logo, color palette, typography, and other visual elements should be consistently applied.
A brand plan can be a separate business plan a part from your entire strategy. While it is easy to overlook this aspect of your business, you will benefit from spending some time devising how you want to develop your long-term customer/client relationships. To help you get started we’ve created a brand brainstormer to give you a simple start to a easily forgotten task.
Here’s our Brand Brainstormer tool to get you started today!