How to Start a Brand and Build Your Business in 2021 [Part 2]. If you are looking to start a business, launch a side project or take your existing brand to the next level. This video (part 2 of the series) will help you to take the foundation we built in part 1 (link below) and develop your external brand from that platform.
This video explains the 4 crucial parts to developing your external brand. Part 1 of the series you can find here – https://youtu.be/HlrHsMRk7aE
If you need help with a rebranding project, developing your brand strategy or clarifying your brand you can schedule a call here – https://www.elementsbrandmanagement.co.uk/schedule-a-call
Have you been thinking about what you want to achieve this year with your business? Well, in this video, I go over how you can set some goals, both short-term and long-term, that will keep you on track and help you to grow your brand.
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Effective goal setting is really important to building a great brand that engages your audience, but it’s only half the battle. You also need a plan or a series of objectives that you can hit along the way in order to reach those bigger goals. The main short-term related goals and objectives that are purely Brand related are to create brand awareness.
Create an emotional connection with your audience achieved by a preference differentiation and standing out from the competition and creating credibility, trust and loyalty. Now, these are things that you want to be doing all the time. Continual objectives that you can hit in order to reach a bigger goals, but in order to set effective goals, what you want to do first is start at the bigger picture goals, the big picture, and then work backwards.
So, what is your brand’s vision? So a good place to start when setting goals for your brand is at the end and work backwards. So thinking about your overarching vision, your ultimate goal for your brand is a good place to begin. If you’ve gone through a rebranding process before you might’ve already defined a vision, but it’s still so worth, sort of revisiting this from time to time and looking at what you have and seeing if it still makes sense.
But if you haven’t gone through a rebranding process or have never defined your vision, then it wants to be something big. You want to be able to dream big. This is a lofty goal. It’s something that may seem unattainable in some cases, but it is sort of set in the realm of reality and is actually achievable.
You’ll see this in the examples coming up on how there’s a big goal involved, but it is actually attainable. Now in thinking about your vision, you want to have something that is compelling for you and your team. Something that feels like it’s drawing you towards it at all times. And something that is big enough so that everything that comes underneath it, everything else you do as a brand can be angled towards it so that you can always be progressing towards that vision.
So for instance, here are a few examples. LinkedIn create economic opportunity for everybody in the global workforce, and that’s quite a lofty goal, but it’s something is actually attainable and it is grounded in the realms of reality. But it’s something that everything they do on a day-to-day basis can draw them towards another example is the Alzheimer’s association and their ultimate vision or their brand vision is a world without Alzheimer’s.
And again, that’s a massive lofty goal, but it’s something that they could achieve in the length or the time span of their business and that they can work towards every single day and finally Nikes. So bring inspiration to every athlete in the world. If you have a body. You are an athlete. So again, it’s, it’s a vision to try and help everyone in the world to become more sporty, more healthy, and to help inspire them and empower them to do more in sport.
All of these vision statements have something in common. They’re big goals that lofty goals, but they are attainable and there’s something that everyone can get behind. The internal team can do everything sort of on a day-to-day basis working towards those ultimate goals or your brand’s vision. So think about what your ultimate vision statement could be.
What is it that you want to achieve as a brand and ultimate goal that everything points at as a brand take that sort of write it down, make a statement, make sure that it is an ultimate goal. It can be lofty, but it needs to be attainable.
Work backwards and get more specific. So if you take that ultimate vision statement that you’ve just put together and what you want to do now is you want to think about if that’s your ultimate goal, where do you need to be in five years time?
What, where do you want to be in five years time, then work backwards to three years, then one year. And you can, if you want go 10 years, five years, three years, one year. But what you want to be doing at each point is writing a short paragraph, short statement about where you want to be or where you need to be at that point in order to be on track to reach that ultimate goal.
So if that’s the life span of your company, that ultimate goal, that ultimate vision, where do you need to be in 10 years? Where’s you need to be in five years. Where’s it’s been three years and one year, make sure you go into detail. Talk about what your premises looked like of your, your office. Talk about how many employees you’re going to have.
Talk about the impact you’re going to have on your audience, product lines, all the things you want to do as a brand. Look at those things. Think about where you want to be in five years and work backwards. A case if that’s five years, where do we need to be in three years in order to be on track, you want to put down revenue goals for this as well.
So, yeah. If again, X amount of five years, three years needs to be here one year. We need to be hitting this and so on. So you wanna make sure that these steps are achievable. They make sense, but they all point towards your ultimate vision. And what this will do is build out a structured roadmap that your business is going to go on.
So the growth of your business, how that’s going to work and for each year, what you want to do, or each milestone, sorry, what you want to be doing. Is writing this paragraph. It was detailed as possible. So if you want to do more in the paragraph, if you want to do a sheet on each particular milestone, it’s well worth doing, because you want to imagine it.
You want to visualize it. You want to write down in detail where each of these points needs to be. See what the metrics, the turnover number of employees, that kind of thing. Number of offices, depending on how big the company is going to grow. And then you want to go detailed into it. So you want to, how does it look like what does it feel like on a day-to-day basis?
If you step into that picture, can you flesh out a bit more to be the more specific you can get? The more real something feels the easier it is to start understanding what you need to do to hit those milestones. So really flesh it out, take the time on it and just enjoy the process. Think about where you want to get to think about how you want to get there and what you want achieve.
And this combination of specificity. And visualization is a good way and a powerful combination to really help you define where you’re going and this growth plan and the milestones you want to hit. You should now have an ultimate goal and a kind of roadmap set out for the next five to 10 years.
Mapping the growth plan of your business.
Comment below. And give me a yes. If you’re looking to set your brain goals and also what is your top goal for the year? Put it in the comments below.
Supporting brand goals and objectives. So now you’ve got this ultimate vision. You’ve got a roadmap of the next five to 10 years of milestones of goals that you want to hit at those points.
Now it’s time to look at your one year milestone. And what we’re going to do is we’re going to build out some supporting goals and objectives to help you reach that, that particular milestone. So start thinking about what you want achieve this year. That is going to line up with your, your milestone for the year.
So that milestone you set in the previous step, what you want to achieve this year inside of that, that lines up with it and helps you, helps take you to that point. So what things can you do that are going to take you to that point? Some general goals to set out would be things like how amount of customers profit.
Sales, audience retention, signups downloads, lifetime customer value on website leads. So use some of these and make a list of supporting objectives that are easily measured and can be measured, have specific outcomes. And have a deadline to them. So set them a deadlines will be very specific with them.
Use the smart framework for setting goals. If you need to find more about that, there’s a lot online about it. So take those metrics, those goals you wanna achieve, use the smart framework and set those goals out, but make sure they line up with that objective that that milestone for the year, there are also some things you want to set that are brand specific objectives that you can measure and track to make sure that your brand’s growth.
Is tracking throughout the year and some things are building up and you can, you can measure that brand awareness and that brand building capacity that you’re putting in the time you’re putting in, you want to make sure that that’s working, there’s a snowball effect happening and it’s, it’s growing to that point.
You want to get it to. So some of the things that you can track around your brand and things you want to measure are brand identity and image. So that’s how your brand is perceived by the market brand awareness. So the percentage of customers that can recall your brand when given a product category, brand recognition.
So the percentage of customers that can recognize your brand name, logo, or visual symbols, Brand loyalty. So repeat purchases and advocacy from customers, brand equity, the estimated value of your brand and market share. So how much, what percentage of the market does your brand own?
Now you have your ultimate goal. You have a roadmap for the next five to 10 years of objectives and goals and milestones. You’ve got your one year milestone. That’s been set. And we’ve looked at, you’ve got your supporting and objectives and goals and metrics that you’re trying to hit over the next year to reach that one year milestone.
Now, what we want to look at is some tasks, some supporting tasks and projects that can help you to deliver those metrics and get to that one year milestone. So some of the things that you can do is in tasks and projects that will drive that growth. An example would be, for instance, if you went to increase your sales by X amount this year, and you don’t currently have an online store, This is quite an important task and something that you need to do and you want to get on quickly.
So that could be a really important task to focus on. That’s going to work to help build one of your metrics that is going to lead you to your one year milestone, or if you want to increase, repeat customer and brand loyalty and potentially a points based rewards scheme, or some kind of membership scheme for existing customers would be a good way and a good task to do and to, to get on in order to push and drive that metric.
To reach that one year milestone. So as a task first, you want to decide what you want to do. EG, you know, get the online store, set up, build a loyalty reward scheme, and then you need to action that task or work out the action for that task. So if it was a loyalty based rewards scheme, there might be things that needed from a development point of view on the website that needs to be added in to the online shopping system.
There might be some printed loyalty cards that you need to do. There might be some special packaging for, for members. All these things need to be thought about as part of that overall scheme, maybe there’s an email sequence that goes out to part of the reward scheme. Once you join it, an onboarding process, all these things need to be thought out and they are sort of underneath supplemental tasks to the main task.
That needs to be thought of and planned in to your roadmap.
A great way to prioritize these tasks is a technique that I picked up from Chris Do from the future. And we’ve modified it slightly to add months and quarters, but essentially it’s his technique. and it’s definitely worth checking out the future on YouTube, great content all the time, especially for building businesses and developing your brand.
What you want to do is create an Excel spreadsheet or a Google doc. Now we’ve got a link to our Google doc in the description below this, which you can copy, just click on it, click, make a copy, and then you can customize it as you need. And what you want to do is you want to set out the columns as follows.
So with headings from left to right, what you want to have in your, in your spreadsheet is task. Then you want impact then urgency. Then you want the total. Then you want the month and the quarter. So what you want to do is list all the tasks that you’ve worked out, that you want to do this year, these tasks that are going to help you to reach that one year milestone and hit those metrics.
You want to put those in the left-hand column. And then what you want to do is you want to score them. So you want to score them by impact. Now, impact is the immediate impact is going to create on your business. So for example, the online score would be the online store would be a really high. Score. And that would then obviously be, say a nine or a 10 out of 10, because the impact that that’s going to have on hitting those sales targets is going to be really high.
So that would be the impact. Then the urgency is how badly does this need to be done? How quickly do you need to do this? What is the need to do this? So if your sales targets are currently at X amount, say if that, if they’re here, we do using the volume. If it’s here and you’re down here. Urgency might be quite high to hit that.
So again, it might be a nine or a 10, then you want to add those up to the total. So you want to have, it’ll be 18 or 19 or 20, and you want to have those in that total column. And then what you want to do once you’ve got all of your tasks in the left-hand column, you’ve scored them off impact and urgency sort by the column of total.
And you’ll get a list of the most important tasks in order that you need to achieve. Then what you want to do. If you want to work out. Okay. So what quarters am I going to work through these particular tasks in and be realistic? Because you always think you can do more in a quarter than you actually can.
Choose the quarter that that particular task wants to sit in. So the top ones will be Q1 one. It’s just choosing how many tasks and how much time you can devote to those tasks in that quarter. And you want to go down and you want to put the quarters in, they’re going to work on those particular tasks, and then you can even go through if you want. And put the months in that you’re going to focus on those particular tasks.
And then what you’ve got now is you’ve got a list of tasks that are going to help you to hit those metrics, which are going to help you hit your one-year milestone, which will put your on course for your three-year milestone, your five-year your 10 year. And all of it’s lining up to your ultimate vision.
Now you have a clear roadmap and a list of things you’re hoping to achieve this year and the objectives you need to hit. But what do you do? We need to execute on that plan. So if you’re unsure about how to execute the plan, or you want any more help with that in developing your brand over the next 12 months, we’ve actually just put together a course.
And it is called building your brand in 2021 it’s for business owners and startups who are looking to refine their brand, hone it, take it to the next level or in the case of some startups, just define it from the start. And what that will do is it will take you through the whole process of developing your brand.
If you’re interested, there’s a link in the description below. Uh, click on the link and you’ll be taken through to the course page. If you enjoyed this video and you’d like to see more videos come out weekly and they’re designed to help you unlock your brand’s potential. So you can stand out from the competition and create impact.