Why You Should Scorecard Your Brand
When you launched your brand, you probably had a clear picture of what you were hoping to accomplish. You invested in an identity, marketing tactics, and media. Since, launching (unless of course, you started your businesses yesterday), your competitors have adjusted and your audience continues to evolve.
Are your mission, vision statement, and brand positioning still delivering what your audience is looking for? Is it time to refine your messaging and image? It’s impossible to know unless you have a pulse on your company’s brand by regularly evaluating and adjusting.
When you evaluate your brand regularly, you placing value on the future of your company and set yourself up for ongoing success. Here are just a few benefits of revisiting your brand strategy on a regular basis.
Are you speaking your customers’ language?
There isn’t a category of business today that’s not changing rapidly. Customer needs evolve, new trends develop, and competitive pressures arise. Be sure to revisit your customer profiles on a regular basis and ensure you’re properly positioned in the market.
Even if your customers’ needs aren’t changing dramatically, taking the time to go through the strategic exercise can be beneficial. Consider possible changes to your most effective value proposition, even minor tweaks. Based on circumstances you evaluate, certain benefits or pain points could be more compelling than your tried and true pitch.
Is your brand is keeping up with the industry trends?
Is your top competitor all over industry news?
Are they marketing on new platforms?
When you check in regularly and evaluate your brand against industry leaders and competitors, you’ll get new inspiration for effective sales & advertising strategies to maintain (or gain) a competitive edge.
If your brand positioned for future growth?
Don’t set and forget your brand. Customer needs are changing. Consider the past few months alone. COVID-19 has massively disrupted the way we live our lives and do business. While not every year will have as dramatic changes as 2020 has, the market is constantly changing.
Frequently analyzing your brand will give you the opportunity to future proof your business. You have to be strategic about which efforts you implement agilely versus which require a longer strategic roll-out, but what’s most critical is applying your findings.
Don’t let your customers fall to the wayside. Always stay close to your customers’ needs and frequently reach out to demonstrate your commitment.
How does your brand measure up?
It’s best to run your brand through a brand scorecard every 6 months. We’ve made it easy for you to start evaluating your brand. Download our brand scorecard tool and begin the process. If you need help scorecarding your brand or want advice on the next steps, call or email today.