A lot of advice on how to start a business is very practical. Put a product out there and see how people respond. Talk to potential customers. See what content resonates.
As a former sales rep, I like this practical approach. It’s a great way to do customer and market research. You want to feel the pulse of the market.
But as a brand consultant, I want you to do more. If you’re building a brand online, I urge you to create a strategy document for your brand.
You don’t want your strategy to be dictated by outside forces only, such as customer needs, demand, and algorithms.
These forces will change, and you don’t want to be a ship out on the water that depends on the currents only, without a motor or a sail to get where you want to go.
Instead, I want you to think about what you want to achieve, do some customer and competitor research, and then develop a unique brand strategy.
A brand strategy document is not set in stone. Develop products and services, and learn what resonates. Talk to customers. Amend your document as needed, but let it be your guiding light.
So how do you put together a brand strategy document?
I’m doing this right now. And believe me, being my own boss, I tried to get out of it too.
These are some of the major components that your brand strategy document should contain.
The first section is about your customers and what they need:
- Who are your customers? I encourage you to do some research on this. I’m sure you already have an idea, but see what you can find online and at the library.
- Can you define your customers in terms of demographics and attitudes?
- Do you have any questions about your customers? Can you ask customers or potential customers some questions? Can you do a quick survey on social media?
- Who are your competitors? What do you know off the top of your head? What can you find out with some research?
- What do your customers want that you and your competitors aren’t currently providing?
The next section is about your business:
- What makes you different from the competition? List the qualities in detail. Consult your customer research and ensure that your points of differentiation are something your audience cares about.
- What are the benefits of choosing your brand? Don’t just think practical benefits. What are the emotional benefits?
- What is your brand’s worldview? Your brand worldview has to appeal to your target customer. List your brand’s values.
- How are you expressing this worldview as a brand? Think about customer experience and how you operate as a brand within the community. What is your brand voice and look, and how does it fit into your brand worldview?
If you answer these questions, you’re a step ahead of most people who are building a brand online.
You don’t need a marketing degree to position your business well. I’m working on putting a framework together that makes it super simple to build a professional and impactful brand online.
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