To engage with consumers, we need to have insight. We work with our clients and do a thorough brand benchmark analysis so we can better understand their business and industry.
“Where do I begin and how do I know where to start with my marketing plan?” Those are two of the most common questions we typically get from our clients when they call us to begin their marketing strategy.
Performing a brand benchmark analysis is the first step to determining how to go about your strategic plan. It measures various components of your business’ current foundation including, but not limited to:
- Brand user experience
- Industry current market
- Competition review
- Culture analysis
- Mission and vision
- Company goals
- Current brand analysis
- Communications audit
- Key message
- Target audience
- Employee interviews
- Persona and scenario design
After we perform and present our brand benchmark findings, we will be able to answer some vital questions that will help you in your personal development as a leader and in developing a strategic plan to guide your business to success. A sample of questions that we help answer include:
- What does it take to be a leader in your industry?
- What needs to change so this can happen?
- How do your customers and employees perceive you and your brand?
- What makes you different from your competitors?
Some companies choose to perform a brand benchmark if they feel like they are in need of a “gut check”. They think they are on the right track but need to have someone review their current market status just to be sure. Regardless of your reasons, a brand benchmark is great way for your company to assess your current market situation.
