2 – Preparation
Gathering, analysing and collecting the inputs you will need.
You have three things to do in this step – to clarify:
- your strengths
- your target audiences
- your competitors
Why this is important
Strong brands are not created out of thin air – to be credible, motivating and successful a brand needs to be rooted in firm foundations. Your brand will be different from any other brand simply because it is your brand and has a unique set of circumstances. To prepare an effective brand definition you need to base it in reality, which means doing some preparatory work.
What you need to do
Identify your strengths, target audiences and key competitors.
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Capture your strengths
This is an important place to start as it will help you focus on what matters about your brand, which will be essential when you come to create your unique definition.
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- What do you think are the strengths of your brand?
Think about all the things that make your brand different and why you have established your organisation in the first place. - What is it that you are most proud of?
These might include soft and hard factors, for example:- how you are different from the competition
- the gap or need in the market you are fulfilling
- the type of work you do – maybe doing things that no other organisation is doing / can do
- quantifiable training and skills
- quantifiable results
- how you / your people behave
- the passion / expertise / knowledge of you / your people
- the quality of your product or service
Identify your target audiences
Write a list of all your target audiences. What is each of them looking for from you? What can you offer them?
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For example, if your company offers a business service, such as ad hoc external administrative services, your list might look something like this:
Customers: These are likely to be either businesses that are too small to have full time permanent administrative staff, or larger businesses who need to cover short-term staff absence. They will be looking for reliable, efficient admin help when they need it. They need a cost-effective way of buying in the professional expertise they need, whenever they need it. They want trustworthy, capable, professional staff who can slot into their company immediately. You are offering reassurance, peace of mind and smooth-running efficiency.
Professional staff: You will need to attract the best staff for your ‘talent pool’. (Your business is as good as the staff that you assign to your clients’ businesses). They will be looking for access to work in a positive environment, where they are paid competitively and treated fairly. They are looking for an organisation that will take away the hassle of looking for work – a company that will do the marketing for them, vet the businesses they are ‘joining’, ensure a fair payment scheme and provide the necessary support that they need. You are making their working life easier, taking the strain of looking (and applying) for temporary positions – you are simplifying their lives so that they can concentrate on what is important to them.
Investors: You may have one or two individuals who have invested in your company for a shareholder stake. They undoubtedly are looking at ROI (return on investment) as they will want to make a profit. However, any good investor knows that the way you run your business will have a significant impact on how successful you ultimately are. They will want to know that you are tapping into a real need and that you can provide concrete benefits to your clients. They will also want to see that you are differentiating yourselves from the competition – eg in the way you assess / train / treat staff; by the way you market your business / pay your staff / deal with customers etc. You need to demonstrate that your business model is good and that you are able to follow it through.
These are simply examples to help you get started. Your business will have its own comprehensive list of target audiences both internal and external. Only you can work out who they are and what they are looking for from your brand. It is important that you consider all their relative needs at an early stage in order to create a compelling Brand Definition, which effectively addresses the needs of your target audiences.
Define your competition
Make a list of your competitors – both direct and indirect.
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Remember competitors are not simply companies selling exactly the same products or services as you. For example, if you sell flowers your competitors are not just other flower sellers but other companies that sell gifts such as chocolates, wine, candles etc. You need to think about what sector you are really in. As Charles Revlon once said, “In the factory we make cosmetics, in the market we sell hope”.
Next, identify your key competitors – which are the three or four who you believe are your closest or most important?
Take each of these key competitors in turn and identify the following:
- What you admire most about them – what are they particularly good at?
- What they do less well / what’s not so good about them?
- How your organisation will be different – what will you do better?
Building brand loyalty is a highly competitive task. Identifying how you can do something better will help your brand stand out in a positive way.
Activity
Complete Worksheet 2 – identifying and analysing your strengths, target audiences and competitors.
Outcome
Clarification of your key strengths, target audiences and competitors.
Clear brands know:
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Why they exist and what they are trying to achieve
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How they are going to get there
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What they stand for and what makes them different