You have an idea for a fantastic new company. You’ve researched it well, done a competitive analysis and are convinced that it will be successful. Now all you need to do is construct a business plan to pitch to your investors. Right? Wrong! Gone are the days where all you need is a business plan. Today, the climate is much different and branding has become a key element in corporate success. So, how do you develop a marketing plan, and how does it relate to your business plan? Is one more important than the other? I mean, you need both now…right? We’ll uncover the answer in this blog post.
Why is Your Brand Important?
Your brand is important because it is the first impression of your company. These days, everyone Googles you before they purchase your goods, hire you, or visit your establishment. Your brand is basically your reputation. Any on- or off-line engagement involves your brand. Because your brand is your professional introduction you need to make sure that you have a plan in place to keep your message clean, concise, consistent and above all constant. We can no longer advertise for the sake of collecting more audience members. The internet, and social media specifically, have taken over and it isn’t just about numbers any more. It’s about engagement and how your brand reaches your market on a personal and emotional level.
What is Included in a Brand Plan?
There are several elements that must be included in any successful marketing plan. Your strategy should include, but not be limited to:
- Your vision – ideas about what your brand represents
- A consistent message – how/where you will communicate with your chosen target audience
- Goals – what it is you want to achieve
- Tactics – the measures you will take to achieve your brand goals
Combining Your Brand and Business Plans
Once you’ve created your marketing plan, it must become a part of your overall business plan. Now, you can get started with the nuts and bolts of your new venture. Your business plan should include, but not be limited to:
- Company profile – the overall snapshot of your business
- Market analysis – your industry and your competitors
- Service or product – what your company is based on
- Marketing plan – ideals for your company
- Marketing plan – tactics for reaching your target audience
- Financials – forecast
As you can see, your brand plan and business plan serve two different purposes but are equally important as they support one another. Being interwoven, it can sometimes be confusing and challenging to define each. Creative Sizzle can help you build a marketing plan, business plan, or complete plan! Contact us for support through our website’s contact form. You can also give us a call at 847-255-5555.