When kicking off a branding project, here at CbyC we always start with an in-depth brand strategy. You can think of your brand strategy as your brand’s blueprint—the “what” & the “why” behind all of your decisions—and it includes everything from establishing your brand’s mission & vision statements, honing in on your ideal client, determining your unique differentiators, and more.
One of the best ways to get to the root of your brand strategy is through a competitive analysis, where we look at the voice, values, similarities, and differences of your closest competitors. The obvious businesses to analyze here are those within your industry, but I also like to look at brands that may be outside of your field but that inspire you nonetheless.
Here are 3 reasons why this is such a crucial step of the brand strategy process:
1. It allows you to evaluate what you do & don’t like about what they’re doing—and why.
Seeing how others in your industry do things is a good way to get the lay of the land and make smart, informed decisions about how you want to build your business. It also may spark new ideas and motivate you to think outside the box to make sure you’re always differentiating yourself!
2. You’re able to get crystal clear on what makes you unique—goodbye comparison!
The competitive analysis process is less about comparing yourself to your competitors and more about realizing your own superpowers. When we approach it from this angle you’re more likely to lean into what makes you YOU, and therefore build a brand that’s totally aligned with that vision.
3. It gives us the tools to create a brand that stands out, so that we can break trends & attract your ideal clients
When we look at your competitors, one thing we specifically look into is the similarities and differences between you and them. This allows us to lean into what makes you different, and therefore create a brand that sticks out from the rest in the industry.
Ready to up level your brand presence so that you can continue to build a business that attracts all the right people? I’d love to chat about how CbyC can help you get there! Book a free consult using this link so that we can chat about your business goals, the branding process, and see if we’re a good fit for each other.
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