You have a business and you have a brand – how do you measure the success of either? When speaking about analytics, the numbers that prove we’re doing excellent or failing miserably in business matter a lot. They’re how we fix problems, adjust successes and plan our future.
But sometimes numbers aren’t enough. When it comes to branding, both absolute values and figurative ideas matter. This means asking questions that you can’t answer without hard thought. Much like your SATs, brand success strategies will have an essay portion.
The best way to figuratively assess your brand’s success is with this set of questions first brought up by Ignition Consulting Group founder Tim Williams:
1. What do we do?
Perhaps the most basic measure of branding success is asking the simple question of what you and/or your business do. This should be answered in a simple sentence; for instance “I’m Tamara Collins, event coordinator and speaker.” “Amteck Industries creates steel solutions.”
This simple answer should always be incorporated in your branding. Should your entire branding strategy be so simple? Not necessarily. But consider that the basis of any good brand strategy is to start with the basics and explain in some way your true business purpose.
2. Who do we do it for?
Next, consider your audience – who are they? Are they a general audience or more specific? Do you cater to men over women? Entrepreneurs over working class people? Who you’re marketing to will dictate the focus of your branding, and this also brings into question your success.
How accurately do you represent this audience within your brand? Based on your analytics, who most identifies with your brand? Does this answer match up with who you want to identify with your brand?
3. How do we do it?
Now assess your values, what makes you and/or your business unique and your methodologies. Sometimes how you perform a service is what identifies you as a brand.
Consider Subway – this is a sandwich chain where your food is made in front of you and served immediately when you pay, unlike artisan sandwich restaurants that don’t operate on such a fast-food style of serving. How the food is prepared separates Subway from other restaurants, and you have to find what it factor you have as a brand and utilize it.
When determining success, look at your current branding methods. How much do you focus on what sets you apart?
4. Why do we do it?
Finally, branding should always convey a mission statement – put simply, a sense of purpose. Do you aim to bring a better value to the table, or higher quality products? Did you simply bring your business to life to fill a hole in the market, or is it something you’re passionate about for personal reasons.
Why you do something is extremely important to a savvy consumer. A successful brand building strategy will always tackle this personal, edgy angle because it’s how you can easily connect with customers around the globe.
