When establishing your brand, you should create a tangible experience. Tangible, like distinct. Able to create something worth sharing with family and friends and still show stability. That kind of tangible.
You might want to make it so that when consumers see your logo or hear your company name, they say “Hey: they stand for something!” Because what your brand does matters more than what it says in a logo.
We understand. And that’s why we’ve put a lot of thought into these 11 questions business owners should ask themselves before creating a brand. We’ve already incorporated these questions when building our multi-layered marketing campaigns, and I hope after reading this, you’ll do the same.
1. What is your brand gap?
Identifying your brand gap is a crucial first step and often skipped. This is where you describe how your customers see your brand versus how you see your brand.
2. What if you fail?
In business, plans constantly change. And, good products and services can only get you so far. You need to build a lasting brand impression for long-term growth. Ask yourself: If you don’t develop a brand, what would happen?
3. What are your competitors doing?
Every business owner I know has lost sleep over what their competitors are doing. The anxiety over if they are running a better business or stealing your customers is something you need to decide if you’re going to sweat over.
4. What is your vision?
When you develop your vision, you’ll realize you don’t need a flying unicorn to achieve it. Do you want to be the leading children’s hospital in the U.S.? Or, do you want to be known for your specialties?
5. Is everyone aligned?
Okay, you’ve got your vision, but has everyone bought into it yet? If you have multiple locations, share your vision with other stakeholders to get them invested.
6. Are you building partnerships?
Creating partnerships is just one way to establish strong brand awareness and increase new customers. Start building this foundation early.
7. What are your metrics?
Dig deep into your metrics to set benchmarks for your brand growth. Keeping track of metrics like customer happiness, churn rate and conversion rate can help improve KPIs over time.
8. Did you miss any big wins?
Have you launched a new product or feature? Or, has revenue started to drop? Analyze your branding to determine if you’re missing any big wins.
9. What do customers want from you?
Nothing matters if you can’t get your customers to buy. Your brand will learn a lot if you can figure out the customers wants and not what you want them to do.
10. Is your business focused?
Like most businesses, you most likely have limited time and resources. Decide what works best for you, your brand and your customers to determine what your branding needs are.
11. Are you really committed?
It took Apple about 5 years to create the iPhone. Chobani took 5 years to get to $1 billion in sales. Building an established brand takes time. You have to commit yourself to creating a sustainable business that customers love before you will begin to see your brand grow.
Share your biggest branding challenge below in the comments! We’d love to hear.