Creating a brand strategy is one of the most important steps that is involved in marketing of a startup. Brands need to be very careful while planning brand strategy as good planning leads to smooth implementation. Here we have shared some questions every entrepreneur must answer while creating a brand strategy:
1. How does your brand add value to the society?
Startups are not only about creating a profitable business but they solve problems that people in society are facing in a productive way. Try to define the purpose of startup and it can contribute to solving social issues. Don’t look for selling a product or service in the initial phase, make strategies for selling an idea that works well for a specific portion of society.
2. What are your strengths?
Knowing your strengths will provide a clear vision of your business and the workforce will also do work in a unified direction.
3. Who is your target audience?
You can’t create a plan that suits everyone. Try to know your target audience and their preferences. What will they feel about your startup? how will they share your idea with others? Try to connect with your audience in an emotional way.
4. Who are you competing with?
This is another important question every entrepreneur should ask. Competitors reveal a lot of things about the market and studying them will help you to work on the difficulties that they faced in past. Analyse the behavior of your competitors in different to get better results.
5. How are you different?
You must ask yourself about what extra value are you providing to the customers. Don’t try to do something out of the box during starting days. Just stick with the basics and provide some additional value to attract future customers.
6. What is your brand personality?
This is one very interesting question to ask. Imagine as if your brand is a person. How would you like it to be known in public? Is your brand Glamorous? Classic? Modern? Ethical? Sporty?
7. What you don’t want your brand to become?
Knowing the things you want to become is important but knowing what you don’t wanna become is another feature of a successful startup. Make some value and objectives and always stick to them no matter what. This will help you to remain true to your audience.
8. How will you attract customers?
Capturing the attention of market is necessary to achieve desired results. EVery market today is very competitive and your brand should appear very interesting for customers to have a try. You should make a map of how you will promote your brand.
9. How will you measure your brand’s success?
Defining goals is not enough to achieve success. It is important to measure goals from time to time and the tool for measuring is very important.
10. What if your plan fails completely?
Most people just think about success before starting something but the reality is different. A lot of startups fail even after having god vision, planning and team. This is because no one can predict the future of the industry in which you are going to work in. Always have alternative plans in case you feel that something is going wrong. Don’t hesitate to make small changes.
The above questions will take time to be answered clearly but if you are pre-planned about the hurdles it becomes easy to achieve success.
