Why you should review your business strategy before doing a brand strategy
CO-WRITTEN WITH BRENDA ETCHELLS
I’ve always tried to make sure I work closely with a business strategist as part of my work as a brand specialist. It’s pretty common to see businesses jumping straight into a rebrand without ever revisiting their business strategy.
I’ve teamed up with Brenda Etchells to help you nail your business strategy review before you move on to your brand. With over 30 years experience in business, I know you’ll all be safe in Brenda’s hands.
What’s the difference between a business strategy and a brand strategy?
Simply put, your business strategy is your plan for how you’re going to ‘win’. Winning looks different from business to business. It could be making money, it could be landing your dream client. Essentially, your strategy is there to help you achieve those goals.
Your brand strategy is then how you intend to implement your business strategy. Therefore, if you haven’t nailed down the business strategy first, your business won’t grow in the right way.
What do they have in common?
The most crucial element of your brand and business strategy is thinking about your ‘ideal client’.
Start with your ideal client and work backwards. What needs to happen in your business and your brand to make it as easy as possible for this person to engage with your business?
What to think about when reviewing your business strategy.
If you’re sitting down to audit your business strategy, it’s a good idea to have some key points in mind
WHY - Has your business purpose changed since you started? Do you need to amend your ‘why’?
WHO - Has your audience changed? Are you still fulfilling their needs? Has your position in the market changed? Are your audience still using the same channels to find you?
WHAT - What do you need to do in the business to achieve your goals? How does your business make money and does it need to be reviewed? Do you have all the resources you need to reach customers?
These questions may be slightly different to a rebrand for your business. Find out more about what goes into rebranding here.
Where your business strategy and your brand strategy meet
Just one case of your business and brand strategy aligning perfectly is when it comes to recruiting for your business. You need to know where your business is heading to know what kind of skills you need to look for. You then need to use your brand to attract the right person for a cultural fit.
You see how it starts to become a ‘head and heart’ relationship?
A cohesive business and brand strategy can make growing your business a hell of a lot easier. Brenda and I are on hand to help you whip your strategies into shape.
Is it time to review your business strategy? Make sure you book in your 30 minute free consultation with Brenda.
To talk all things brand, book a call with me today.