The process of creating a strategic identity that helps drive the business forward is a significant commitment. A company that is willing to dedicate the people, time and money to see it through will enjoy the fruits of their labors for years to come. Those that don’t just end up with a nice new logo. How do you know if you are ready?
Over the years, I have worked with small to mid-sized organizations in a variety of industries to define their strategic and/or visual identities. I have seen some companies be more prepared than others for the process and do more with the knowledge after my work is done. Here are a five factors that are important to seeing the full benefits of the process:
1. The executive team is on board
The strategic identity development process must be owned by the CEO and needs to be fully supported by the executive team for it to work. This core group has the best perspective on the business strategy and direction of the company. They direct the resources of the organization to make the needed changes. And they set the tone for the culture so that everyone in the company knows how important the initiative is to their jobs. Their involvement and support is essential.
2. You are willing to change more than the logo
Identity strategy and business strategy are partners at the hip. Aligning the two may necessitate changes in various functions of the organization including marketing, sales, human resources and customer service. After all, you can’t promise “second to none” customer service in your digital marketing campaigns and then send customer calls to voicemail. It’s a team effort.
3. You know your customers intimately
The purpose of creating an identity strategy is to build your business. Otherwise, why bother? So it is important to understand what works well in your customer relationships and what doesn’t, what non-customers think, how the market views you and your competitors, and what is important to the buyer. The more you know, the more effective your strategic identity will be.
4. You know what sets you apart from your competitors
By nature, a strategic identity is about differentiation. Distinctly different companies maximize value even in commoditized businesses. Why buy Dell over HP? Why fly Southwest over US Air? Your company has something different that sets it apart from the competition. It’s important to know your competitors inside-and-out, how the market perceives them, and where they are stronger and weaker than you.
5. You know yourself
Discovering your strategic identity and what it means requires all-of-the-above, plus a bit of introspection. You need to be able to set aside the way you have thought about your company in the past and explore a wide variety of things that might make you unique. This could include company culture, business model, internal processes, history, people or many other categories.
So are you ready? You may not be perfect in all of these areas, but who is? Your organization just needs to be able to discuss what you know, acknowledge what you don’t, and pursue the truth of your identity. It’s hard work, but anything that helps build your business is.