The difference between a business plan and a brand strategy
Updated: Oct 6, 2021
When working on a brand strategy with clients I often hear them refer to it as a business plan, this is not the case. A business plan and brand strategy are two different documents, both necessary tools for every business in order to be successful. So what are the differences between them, how to they work together and how is brand strategy just as important to your business?
What is a business plan?
Your business plan lays out the foundations, the in’s and out’s of how your business functions on a daily basis and long term. From fundamental goals, business ethos, market analysis and business description to business operations and financial breakdown.
These are essential structures to have in place for a successful and grounded business. A business plan is often an important document to have when approaching investors, partners or shareholders in order to have a concise presentation on all the practical elements of your business.
What is a brand strategy?
Your brand strategy draws on elements of your business plan. Here we look at what your business represents or exemplifies and what differentiates you in your industry.
We also look at brand values, personality and strategic positioning based on your competitor and market analyses. All of this cumulates in your brand essence and how we plan your strategy to accurately portray that essence.
Why do you need a brand strategy?
Having an established brand identity shows confidence. Not only does it guide every choice you make when presenting your brand, it also shows your audience that you know who you are, what you can do and what you stand for in a larger context. A successful brand will effectively connect you with your target audience and attract your dream clients while embodying your business’s vision.
What is the breakdown of a brand strategy pack with Sprig Co. Studio?
We have broken down the process into phases that make it easy and enjoyable to understand as you see it come to life.
Fill out our enquiry form here if you are interested in starting your brand strategy project!