Your corporate brand is in place. It's operational, it's gaining visibility…maybe you're even starting to turn a profit.
How long will that last?
If you've been under the impression that your corporate branding strategy is a once-and-done task, you're mistaken. It's true that all branding strategies should be developed with flexibility and evolution in mind; however, that doesn't happen automatically. Shifts in the market, in consumer trends and in economic climates all contribute to how well your strategy performs.
Okay, so you're willing to accept that fact.
And yet, this question persists: How will I know when change is necessary?
That's easy: You've got to test and measure. You've got to assess the performance of every facet of your corporate branding strategy, to determine if each one is performing as expected, over-performing or under-performing…and make relevant adjustments, all with the intention of exceeding expectations.
Not sure where to start?
That's understandable, and that's also why we're starting with the simplest of steps for measuring the effectiveness of your corporate branding strategy.
Your Corporate Branding Strategy: Testing and Measuring for Maximum Effectiveness
The success of your corporate branding strategy is highly dependent on your asking this question on a regular basis:
Am I on the Right Track?
And at least quarterly, that question should be broken down into these checklist items:
- Verify your Instincts. I am a true believer in following your gut; however, that doesn't mean it should end there. There will be parts of your corporate branding strategy that are results of intuition, which should be substantiated with real data. If the numbers aren't proving that your gut was right, then adjust your strategy.
- Check Progression Toward your Goals. Every corporate branding strategy should be supported by goals, and every check-up should measure your brand's movement toward those goals. What parts of your business are shining? What parts are lagging behind? Put more energy into those things that are working well and tweak your approaches for those that aren't.
- Use the Analytic Tools Available to You. Your website and social media pages all have tools you can use to measure traffic, engagement, click-throughs and more. Use these to see what people are attracted to, what's keeping their attention and what's motivating them to click through, sign up and make purchases.
- Get Unbiased Advice. You spent a lot of time and effort creating your corporate branding strategy, and you've grown quite attached to it. For this reason, it can be difficult to let go of ideas you love, that aren't working very well. Oftentimes, you know the truth; you just need someone else to say it. Other times, you're simply too close to the project to view it objectively. It's always a good idea to ask a trusted mentor or business expert to take a look.
- Test New Ideas. Not sure which price point will work? Or at what time your social media posts will get the most engagement? Then test both options. Offer your product for two different prices, and keep track of which one sells better. Post at different times, and keep track of which one get more views and interaction. Use your findings to fine-tune your strategy.
- Ask your Ideal Clients. Not sure in which direction to steer your corporate branding? In order to improve and grow your brand? Sometimes you've just got to ask. Create a poll or survey. Your loyal clients, as well as those who follow your brand, will be happy to offer their opinions because the outcome will affect their experience with your brand.
- Keep an Eye on your Target Audience. Consumer trends and other influences are going to change what your ideal clients want from your industry. It's your job as a progressive brand builder to get in their heads and predict those needs before they come to fruition. Otherwise, you'll learn of those needs only when your customers turn to your competitors, who were forward-thinking enough to be there with the answer even before the new problem became significant. Do this by being an active member of forums and social media groups where your ideal clients are hanging out. It won't be long before you learn to predict trends and shifts in thinking far enough in advance to stay ahead of the competition.
Your corporate branding strategy should be a living, breathing entity that shapes itself in response to the needs of your ideal clients. Businesses that refuse to change aren't in business for very long, and realising this will keep your brand relevant and desirable to all the right people.
The Brand Builders Club is filled with entrepreneurs who are on the cutting edge of their industries…and who want to share their experiences and wisdom with you. They're also looking for joint venture opportunities and chances to partner with other intelligent, motivated brand builders. If you think the Brand Builders Club is right for you, and if you're stoked at the idea of quarterly strategy days, hot seats, masterminds and much more, then simply email [email protected] and we'll set up a call to explore the idea of you joining the club.