Every business plan must include branding strategy in addition to other parts. It is a documented plan of how you will apply your brand strategically throughout the company over time.
A good branding strategy lists the one or two most important elements of your product or service, describes your company’s ultimate purpose in the world and defines your target customer. The result is a blueprint for what’s most important to your company and your customer.
Many startups have the notion that creating a branding strategy is a big deal and very ambiguous or complicated , but that is not true.
Here’s how you do it:
Step 1: Distinguish yourself from others
You have to be able to provide answers to question like Why should people buy from you instead of from the same kind of business across town? use phrases like “Strong”, “Reliable”, “Standards” etc to tell the intangible qualities of your product or service. By doing this, you will occupy a position in the customers’ minds so they can think of you differently from competitors. This strategy works like magic that is why big brands like Mercedes, Volvo etc employ this strategy. Do what others in your locality might not do .for example, opening on public holidays and serving customers beyond normal closing hours just to portray yourself as “Convenient” brand to customers.
Step 2: Identify your target customers.
Once a product is defined, the next task is identifying your target customer. It does not matter if you have gathered demographic information about the target market you are entering. You need to think about the actual customers who will walk in through the door.Who they are, their reason and why he or she wants the products and the expectant value by him or her from the product or service.
Step 3: Develop a personality
For example, you can be known for quick service or quick resolutions of customer complaints etc. What you need to do to achieve this statement is to constantly live it and build such consciousness around your employees right from the security guards to the cleaner and top level staff.Unfortunately, a lot of small companies write mission statements just for the sake of it without making it the bedrock of their operation.Even hiring staff should be base on your promise and not necessarily who is more brilliant. Employ people who align with the value and personality of the organization.