As a passionate, driven entrepreneur, you know that quality is crucial. Your product or service is excellent and unique. Your team is committed. Your contractors and vendors are trustworthy and enthusiastic. What’s missing? It’s probably a comprehensive, well-thought-out marketing strategy. Within the strategy, a high-level brand strategy should be a high priority. Curious about how to develop and manage your brand strategy? Here are several steps to include.
Determine the Components
What are the essential elements of your branding? It’s important to determine your brand purpose, target audience, brand voice, and brand recognition. The benefits and qualities of your product or service, plus a thorough competitor analysis are also important to brand components. These should be crystal clear before you proceed.
Identify the Responsibilities
Bring together your brand strategy team. Determine if you need contractors. Clearly define the roles that each person will have during the process of brand development. Roles might include content creator, project manager, developer, designer, quality assurance, analysis and reporting, and advertising manager.
Define the Process
Brainstorming and refining are crucial processes in brand development. To save time, build cohesion, and bring about positive outcomes, take time to decide exactly how this process is going to work. Put it in writing, being specific about behaviors and timelines.
Determine the Performance Indicators
Determining your performance indicators will help you find out if your brand strategy is effective. Regarding business growth, develop SMART (specific, measurable, attainable, realistic, and time-bound) goals. KPIs (key performance indicators) might include web traffic, cost per acquisition, and conversions. Consider these indicators as they present themselves on your website, social media, email, and SEO (search engine optimization).
Track the Results
Have the person you have designated as an analyst will take a look at your KPIs and provide you with a report on each campaign. As you track progress through the marketing campaigns, make adjustments as you go to fine-tune your brand strategy. Doing so is a wise investment of your effort. Over time, you’ll amass valuable data that will benefit your future planning. You’ll have evidence that will answer the questions of what is and isn’t working, and what changes over time. Then, your team will be in a good position to make the most of the information.
A successful brand strategy incorporates sequential steps that build on each other. Consider using this method of developing and refining your plan.
At Monterey Commercial Capital, we look forward to providing your business with the marketing it requires to grow and thrive. Contact us today for a free, no-obligation analysis of your marketing needs.