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To stand out in the crowd, you'll need to come up with an outstanding brand strategy. One that drives both your team’s enthusiasm for the work and engagement with its customers.
Creating a brand strategy can be challenging and is often overlooked as superfluous. Yet all successful businesses big and small have one.
Defining an explicit vision, mission, and value statement is the very first step of any good entrepreneurial idea, even before a name and logo. In fact, the brand strategy should help define the name and logo, not the other way around.
The first thing you'll need to consider in creating an effective brand strategy is the vision of your company.
A vision statement describes a view of the future. In creating a vision, you'll be thinking about (and drafting) a statement that encapsulates what your company should look like in five years.
Ask yourself the following questions:
How will your business serve its customers in the longer term?
How will it specifically make a difference to the community of interest?
While a vision statement is idealistic, it needs to be measurable. You'll want to include defined ways to measure progress and ensure the business journey is on track.
A simple example would be to change a statement like:
'Influence the accounting practices of many industries'
'Influence the manufacturing and construction industries by introducing five new accounting technologies. Each must be capable of saving the client an average of 7% of its operating cost per annum'.
If you include 'Make a profit' in the Vision Statement, it should be something like 'return an annual ROI of 9.5% by 2025.'
The bottom line is to make sure that everything you say matters to the business and the customer, as well as being quantifiable.
If the vision is forward looking, the mission statement describes how your business solves its customer's problems day-to-day.
To create an effective mission statement, make sure that you ask yourself:
What is the purpose of our most fundamental actions every day?
What customer problem are we solving daily?
You're going to want to describe your company's primary purpose in easy-to-understand terms. Then articulate what the company is going to do each day to meet this fundamental objective.
A good mission statement puts the customer first. For example, you don't want a mission statement that says, 'the company should be making a $1000 profit every day.' Profit has little to do with delivering satisfied customers.
Instead, you'll want to say something like -
'We consistently deliver the fastest order servicing times in Auckland’s fish & chip takeaway sector, with the highest average rating on Zomato'.
Of course, making a profit is vitally important. However, the financial side should be the result of delivering on a Mission statement, not the driving force. The mission statement is about your clients.
The Value Proposition is the sales pitch for your business.
For example, "We create innovative solutions to home garaging problems with the quickest and therefore cheapest resource consent turnarounds in the business". It is an excellent value statement because the customer has an immediate understanding of what you do and how it delivers value to them.
Allowing potential clients to see what you do in an easily understood manner is fundamental to a successful sales pitch. Customers know precisely what you offer and how it will benefit them.
A value proposition can be headlined by something short, sweet, and catchy. For example -
“Best damn cupcakes this side of the Bombay Hills, as voted by 90% of our customers”.
More in-depth detail include -
"Made fresh daily with organic butter and a minimum weight of 100grams. Customers surveyed independently on a two-monthly cycle."
Combining the memorable headline with the detail in various marketing executions gives a compelling pitch for the cupcakes. These cupcakes are exceptional because they are fresh and made with the best ingredients. We know they are awesome because our customers tell us so independently.
It's crucial that the fundamentals of the vision and mission statement inform the creation of the value statement. If all three of these aspects of a brand strategy seem unrelated, your business risks sounding confusing and disjointed.
It's also vital that the statements are achievable both operationally and financially.
With the fundamental tenants of building a brand strategy outlined, it's time to get started for yourself.
Feel free to drop us a line or email for advice. We won’t charge for a ten-minute consultation and a few pointers on the phone
If you do decide more comprehensive professional help is required, we'll work with you in building and implementing this essential pillar of entrepreneurial success.
Fathom offers a full-service web and digital business development team. We leverage world-class visual development tools to strategise, design and build digital products faster and cheaper than is traditionally possible.Go to Studio
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Packed with resources for any enterprise exploring digital revenue opportunities, Fathom supports start-ups, home entrepreneurs and businesses in any sector. Learn to build digital assets, implement strategy, drive campaign marketing and more.
Fathom offers a full-service web and digital business development team. We leverage world-class visual development tools to strategise, design and build digital products faster and cheaper than is traditionally possible.