{"id":408,"date":"2020-01-07T08:01:23","date_gmt":"2020-01-07T08:01:23","guid":{"rendered":"http:\/\/webdesigninhoustontexas.com\/silkcards_blogs\/?p=408"},"modified":"2023-09-06T09:55:56","modified_gmt":"2023-09-06T16:55:56","slug":"why-your-brand-plan-is-bigger-than-your-business-plan","status":"publish","type":"post","link":"https:\/\/silkcards.com\/blog\/culture\/why-your-brand-plan-is-bigger-than-your-business-plan\/","title":{"rendered":"Why Your Brand Plan is Bigger than Your Business Plan"},"content":{"rendered":"<div class=\"section post-body\">\n            <span id=\"hs_cos_wrapper_post_body\" class=\"hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_rich_text\" style=\"\" data-hs-cos-general-type=\"meta_field\" data-hs-cos-type=\"rich_text\"><br \/>\n<!--more--><\/p>\n<h2><strong><img decoding=\"async\" src=\"\/blog\/wp-content\/uploads\/2020\/01\/SIL_BlogPost_WhyYourBrandPlanIsB-1.jpg\"><br \/><\/strong><\/h2>\n<p>Most entrepreneurs are familiar with the need to create a business plan for their company. While your business plan is important, what\u2019s just as essential is creating a brand plan. A brand plan sets goals for your organization and creates a roadmap for making your brand shine brighter than the competition.<\/p>\n<p>There are some significant differences between a brand plan and a business plan, and it\u2019s important to understand the function of a former. These are complementary documents, but each serves a specific purpose in achieving long-term success for your company.<\/p>\n<h2><strong>Understanding the Differences Between a Brand Plan and a Business Plan&nbsp;<\/strong><\/h2>\n<h3><strong>Brand Plan<\/strong><\/h3>\n<p><a href=\"https:\/\/www.linkedin.com\/pulse\/20140709122335-13996180-how-to-write-an-effective-brand-plan\/\" rel=\"noopener noreferrer\" target=\"_blank\">There are five questions to ask yourself<\/a> as you create a brand plan.<\/p>\n<ul class=\"checkppoint\">\n<li>Where are we as a company?<\/li>\n<li>Why do we find ourselves in this current situation?<\/li>\n<li>Where could we be in the future?<\/li>\n<li>How do we get there?<\/li>\n<li>What steps do we need to take before employing our strategies?<\/li>\n<\/ul>\n<p>Your brand plan will also take measure of what factors are driving your the success of your brand and what\u2019s inhibiting it. It\u2019ll also make an outline towards the future and direction for your brand, analyzing the various risks and opportunities your company faces.<\/p>\n<p>Through this analysis you\u2019ll be able to identify key issues and create strategic initiatives to enhance the drivers of growth and build your brand. From the strategic imperatives, you\u2019ll create tangible executional tactics to achieve brand growth. You\u2019ll set a target audience, identify ways to convey your brand message, and entice them into action.<\/p>\n<p><\/p>\n<h3><strong>Business Plan<\/strong><\/h3>\n<p>The other very important document used for dictating the future of your company is a<a href=\"https:\/\/www.investopedia.com\/terms\/b\/business-plan.asp\" rel=\"noopener noreferrer\" target=\"_blank\"> business plan<\/a>. This is a document which is created for new businesses or companies that are undergoing major transitions. It describes how your business will be successful and how you\u2019ll go about achieving goals.<\/p>\n<p>Plans for your company\u2019s marketing, accounting, and operations are detailed in specific terms. Quite often, a business plan is a prerequisite for any new company seeking financial backing from a bank or venture capital firm.<\/p>\n<p>Your business plan will include a description of the product or services offered by your company. It\u2019ll also include figures such as financial and budgetary projections. Also included in most business plans is an outline of day-to-day operational activity. With a business plan, you can provide your company and investors with a clear picture of how business decisions will be made and the effect they\u2019ll have.<\/p>\n<p><\/p>\n<h3><strong>Launching a Product Versus Launching a Brand<\/strong><\/h3>\n<p>When you are starting a new business, you need to understand the notion that<a href=\"https:\/\/www.entrepreneur.com\/article\/245569\" rel=\"noopener noreferrer\" target=\"_blank\"> a product isn\u2019t a brand<\/a> and why. In simple terms, a product performs a function or meets a need, while a brand elicits an emotional response in consumers, filling a want. A brand builds value for your company, overcoming the wall of consumer indifference by assuring them they\u2019re paying for a premium product or service.<\/p>\n<p>Kleenex is an excellent example of the difference between a brand and a product. Tissue companies generally offer the same products. But only one brand has become the generic byword for tissues. Kleenex was able to make customers fall in love with their products, but more importantly, their brand, which has been imprinted on the minds of consumers.<\/p>\n<p>Conversely, companies with ground-breaking new products that fail to establish brand encounter the harsh reality of this phenomenon.<a href=\"https:\/\/www.entrepreneur.com\/article\/245569\" rel=\"noopener noreferrer\" target=\"_blank\"> A commonly-cited<\/a> example is Contour, a point-of-view camera company that launched in 2004 at the same time as Go-Pro. While they provided a great new product, they didn\u2019t make consumers fall in love with their brand like their main competitor and suffered because of it. Go-Pro focused on building a brand that could make any athlete feel like a \u201cpro\u201d and has become a household name while<a href=\"https:\/\/www.geekwire.com\/2013\/contour-closes-seattle-hq-surprises-employees-execs-mum-status-gopro-rival\/\" rel=\"noopener noreferrer\" target=\"_blank\"> Contour suddenly closed in 2013<\/a> (though it\u2019s since been revived).<\/p>\n<p><\/p>\n<h3><strong>Brands Stand the Test of Time<\/strong><\/h3>\n<p>There\u2019s one more big difference between brands and products. Products have a shelf life, they become obsolete, and they\u2019re subject to the trends and whims of consumers. Brands stand the test of time. Regardless of current trends, for over a century Chanel has been considered one of the most luxurious clothing brands and Cartier one the best jewelry companies.<\/p>\n<p>People are risk averse. If they use a product and it provides a positive experience, they\u2019ll go back. Over time, they\u2019ll fall in love with the brand and want to share their experience. The digital age, with social media and customer review sites has made interactions between brands and consumers easier and more shareable than ever. This can be a good or bad thing for a business, depending on how they capitalize on the opportunity. With a strong brand plan, you can use social media and the internet as a powerful tool for growing your market share.<\/p>\n<h4><strong>Developing a brand plan can be challenging, but our Brand Strategy Toolkit can help you get started. Download it for free today!<\/strong><\/h4>\n<p align=\"center\"><a id=\"cta_button_2086628_b7dae58b-de0e-4e3b-b1ba-db4cee2dcc39\" class=\"cta_button \" 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rel=\"noopener noreferrer\" target=\"_blank\"><span style=\"font-size: 18px;\">Download<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":12,"featured_media":410,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-culture"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why Your Brand Plan is Bigger than Your Business Plan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/silkcards.com\/blog\/culture\/why-your-brand-plan-is-bigger-than-your-business-plan\/\" \/>\n<meta property=\"og:locale\" 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