How you build your brand strategy (we call it our long–term investment plan) is just as important as how you market your company (which we call your short–term investment plan). Truth is: failure to create a well–honed strategy can result in an early demise of your business. So, let’s prevent that from happening.
These key essentials will help you build a growth strategy while you work to increase revenue.
1) DEFINE YOUR CORE PURPOSE
Focus on getting to ONE purpose, not a kitchen–sink full of them. For your brand development strategy to work over the long haul, your game plan must be centered around here. It’s not enough to know WHAT you hope to do to make your small business grow, you must know WHY you want to do it. You need a deep understanding of yourself, your strengths, and your purpose to create a brand development strategy that’s relevant now…and into the future.
2) BUILD FROM AUTHENTICITY
If you try to follow the latest trends or create a brand strategy that isn‘t true to who you are, your customers will sense the façade. From HOW you speak to WHAT you say, be authentic in every touchpoint – from your social media marketing strategy to your business blogging and content marketing strategy. This ups your odds of increasing your long–term success.
3) UNDERSTAND YOUR AUDIENCE
You can have a sought–after product or stellar service, but if you’re marketing to the wrong target audience, your sales will show it. The more effort you put into researching your audience up front, the better you’ll be able to meet their needs and drive your sales.
•Where do they get their information online?
•Which networking platforms do they use? (e.g. Facebook, LinkedIn, Twitter, Instagram).
•What type of person best describes them? Create a buyer persona to bring them to life as a human.
•What challenge can your product/service solve for them?
4) KEEP FOCUSED ON YOUR VISION
Create a long–term vision and regularly revisit your plans to see if your current path is in harmony with your initial vision. Key words. Regularly revisit. It’s so important to keep your eyes on your long–term vision, versus expending energy chasing the latest shiny object.
5) KNOW WHERE TO REACH YOUR TARGET
Do they prefer a weekly newsletter update? Are they social media users who interact with brands on social networks? As you hone in on where to talk with your audience, also establish a tone of voice that resonates with your audience. And, keep it consistent across all marketing channels. Unless you know how your customers like to be marketed to, you can‘t possibly meet their needs to grow your company. This also should help you to define a clear path to market.
So, there you have it. The five essentials to creating a multi–pronged, brand development strategy for growth. It’s an investment that will pay off with hard work. Think of each one as a step that together maps out your strategic path to profits. Skip a step and you’ll most likely veer off in the wrong direction.