Branding, Marketing Strategy
What is a Brand Analysis?
Two out of three B2B companies say generating leads is their biggest challenge. But, 38% of salespeople say it’s getting more difficult to get a response from prospects. So what does that tell you? It’s time to start putting your brand to work. Actually, it’s already working.
Your brand is a living thing. It’s not your logo or your website, though they’re important parts of it. Your brand is how others perceive you and how they feel about you, and that’s always changing and evolving out in the world. Not convinced? Research proves it: buyers who emotionally connect with your brand are 60% more likely to consider purchasing from you.
When you hire us to work on your brand, whether that’s a full company rebrand or a new component like a website, we tell you that our first step is to perform a Brand Analysis. Okay, great…but what does that mean?
What is a Brand Analysis?
Spoiler alert: it’s a document. But it’s also more than a document. Like the way Yoda speaks, we must first tell you what a Brand Analysis isn’t before we tell you what it is.
Research proves it: buyers who emotionally connect with your brand are 60% more likely to consider purchasing from you.
It’s not about your website.
If we’re working on a website project with you, the Brand Analysis is the first step. One of our strategists meets with you to discuss your company and goals. Your strategist then uses your feedback, combined with their own independent research, to draft the Brand Analysis.But it’s not really about your website; it’s about you. We need to understand you as a company before we get into the nitty gritty of creating a new web presence for you.
There ain’t no visuals in it.
We won’t be presenting a new logo or web design (yet), or talking about suggested colours, or anything else design-ey. The analysis is the foundation for all of that. Our designers will use it to understand your goals and craft custom solutions for you during the design phase of your project. The research we perform in the analysis will guide the rest of our working relationship together! Think of it like our first date. It’s just a bit weirder, because we write down everything we talked about and send it to you afterwards.
It’s not set in stone.
Sure, we know lots about branding, marketing and design. That’s what we do. But your Brand Analysis document isn’t just us telling you who you are and what you should do. We want to have a discussion about it. We want your feedback! We’ll work together during the whole analysis process to get it just right. This document is going to guide our work now and long into the future, so don’t be afraid to speak up with any questions or helpful comments to add into it. It’s all about YOU.
So that’s what a Brand Analysis isn’t.
Now for what it is…
What’s in a Brand Analysis Document
Well, we can’t give the whole farm away here, okay?
But basically, your Studiothink Brand Analysis covers each of these areas:
• Your background
• Your goals
• Target markets
• Customer personas
• Your voice (the style of language and tone you use in all written materials)
• Competitive analysis
And finally, we include a section for how we’ll measure the success of your projects -- together. Think of each of these sections as the pillars of your brand. If one is missing or incomplete, you’re left with a fragmented brand that won’t do you any favours. Without a rock solid brand identity, your potential customers will be just as confused as you are about what you do and why you do it.
Okay, But How Does a Brand Analysis Help Me?
If all of this sounds a bit ‘barefoot hippie chanting and running around a field with coloured gemstones’ to you, then pay attention. There are tangible business and financial benefits to a Brand Analysis.
It provides outside perspective.
You’ve heard the old saying, “Two heads are better than one.” When someone outside your company evaluates your brand and competition, it sheds light on problem areas you didn’t even know existed. Being at arm’s length also allows us to remain objective and pitch you great new ideas. You can’t be creative when you spend all your own time immersed in your company. We’re here to offer a fresh perspective.
It improves your sales and marketing efforts.
Having everyone on your team aligned with your brand promise is critical. Did you know a study by McKinsey found that B2B decision makers consider your brand a key element of a supplier’s value proposition? Brand alone accounted for 18% of the purchasing decision, with only 17% being for the supplier’s sales team. After the research process, you can share the finalized Brand Analysis document as a sales and marketing tool for your whole company to use.
It sets measurable goals.
We don’t do fluffy stuff around here. There’s always a point to what we do. Your Brand Analysis sets goals for your company’s future. Not wishy-washy stuff. Things like revenue projections, market share, lead generation quotas and other items that actually grow your business. Then we get to work helping you achieve those goals with your strategic branding project, whether it’s a single item, like a new logo, or a larger campaign. It makes you more dolla dolla bills.
You might be wondering how to calculate the ROI of a new brand. Luckily, we have just the thing for that. The average company sees a 9% increase in revenue from a strategic rebranding. And you’re much better than average, right? Fill out our Brand Calculator to find out the financial ROI of a new brand for your company.
Ready for A New Brand?
We’d love to get to know you. Send us an email at firstname.lastname@example.org and tell us what you do. We’ll worry about the ‘making your brand awesome’ part.