Business Plan vs. Brand Strategy vs. Marketing Plan. What do I need?
Business plan. Brand strategy. Marketing plan. What's the difference? Do I need all three? Which one should I be focusing on right now?
The answer to that question really depends on what stage of your business you’re in but typically, the business plan is the first thing you’ll do followed closely by your brand strategy and marketing plan.
Let’s dive in a little further…
Your business plan will define how you intend to operate your business, what products or services you’ll offer and how you will deliver them to your audience.
A business plan is a document that defines in detail a company's objectives and how it plans to achieve its goals. It lays out a written roadmap for how your business will be structured, what products or services you intend to provide, how much money you need to get started, and how you will manage the business.
An effective business plan will help you make sure that what you're doing is actually viable and can succeed.
The brand strategy will ensure that your messaging and identity are in line with your overall goals.
A brand strategy is not just a marketing campaign or advertising campaign — it's much bigger than that! It defines in detail the positioning of a brand in the market and how it will be communicated to customers. It outlines how you want consumers to perceive you and your product or service.
A Brand strategy encompasses everything from defining your brand's personality and visual identity to your brand’s tone and core messaging to creating unique experiences for customers both online and in-person.
Your brand strategy will be the driving force behind everything you do.
The marketing plan will outline all the ways you’re going to get your message out into the world.
It includes all the tactics and strategies you’ll use to promote your brand and attract new customers. Everything from social media to paid advertising to your online presence to testimonials and everything in between. It also includes specific goals and objectives along with detailed action items that must be completed to meet those goals.
An actionable marketing plan will keep track of everything you're doing and help build your brand.
I know, it's a lot to think about but it doesn’t need to be overwhelming. Take it step by step then sit back and relax a bit once they're done. Having these three things in plan in the early stages will set your business up for success and growth.