When was the last time you drafted your branding strategies' strengths and weaknesses chart?
1. Start by simply identifying the services that you provide and which services you don’t provide. Then, pinpoint the areas in which you excel and where you need improvement.
2. Ask yourself what your brand represents today. Come up with a list of adjectives. Do these adjectives fit into your original mission statement and brand strategy? Are they in accord with your day-to-day activities?
3. Then consider, in the past year, what projects you have executed most effectively as well as what types of clients or customers are most drawn to you. Notice any commonalities or patterns.
Remember, this is an internal audit. Understanding your strengths and weaknesses is a way to see where and how your company and brand strategy can improve. This is a tool that leads to the final product of a more specific, powerful and polished brand image.
4. Determine where your brand is heading. After looking at your present branding strategies and how they square up to your goals or the original vision of your brand, you might notice some disconnects or inconsistencies. These should now command the primary attention of your brand strategy. If they are positive changes that you want to pursue as the future of your brand - great! If they are weaknesses or unfulfilled promises, consider how your brand can change course.
5. Bring the internal audit into focus. Ask yourself:
• Is my client base expanding or contracting?
• Do my clients adequately represent the types of clients I want to pursue?
• Have I gained on or lost to my closest competitors recently? (key accounts, revenue, market share, etc.)
• Do people understand my brand?
Now, take some time to reevaluate. Regroup with your team and your ad agency and begin redrafting your brand strategy. You’ll soon find the effort worth the time.