HOW TO DISCOVER YOUR COMPANY'S BUSINESS IDENTITY
If you asked one of your employees what makes your company unique, how would they respond? Would they passionately discuss the niche your company serves? Or would they shift on their feet, thinking hard, but ultimately coming up blank?
How a company creates value for its customers is one of the most fundamental elements of a business strategy, yet surprisingly few organizations can confidently diagnose the unique value they offer their clientele. This phenomenon indicates the absence of a clear business identity, but what is a business identity, and why does your company need one?
OK, GOOGLE. WHAT IS BUSINESS IDENTITY?
When we say the words business identity, we’re talking about more than your company’s logo. We’re talking about the foundational values of your organization - what makes your business, well...your business.
Like DNA in the human body, a business identity lies at the core of your company and contains your organization’s most essential information: a framework for identifying targeted consumers, a road-map to your market niche, and a formula for strategic development. Essentially, your business identity is what drives your company to operate effectively by providing the tools you need to chart your company’s growth.
THE BIOLOGY OF BUSINESS
Think of the big organizations in your life: consider Apple and its commitment to bringing the best user experience to its customers, or Amazon and its aim to build a customer-centric platform for online shopping. Both of these companies back up their identities with distinctive capabilities - they know who they are and where they’re trying to go.
It's simple biology. Your body cannot replicate your cells unless it has a cohesive idea of their function. Similarly, without a strong understanding of WHO your company is and HOW it operates, it is nearly impossible to grow and flourish.
The companies with the strongest identities are the companies that thrive because they understand how the value they provide their consumers is unique and focus on developing that unique value proposition.
The stronger your business identity, the more powerful your organization. Knowing exactly WHO you are provides strategic clarity, helps you develop consistent messaging, and allows you to confidently speak to the results your company will deliver to your consumers.
UNCOVERING YOUR BUSINESS IDENTITY
Business identity may be a critical element of your strategic plan, but that doesn’t mean it’s easy to uncover.
Analyzing where your business fits into your industry, identifying who your ideal customer is, and distinguishing your value proposition from that of your competitors takes time and focus. However, declaring the value your company provides and committing to developing your differentiator has proven to be a winning strategy.
Not only does it bolster financial results, it's also an incredible motivator for your employees, who perform better when they know how they fit into a larger objective.
Want a deeper look into your company’s business identity? Wondering how you can leverage your uniqueness to build your growth strategy? Reach out to us via email (firstname.lastname@example.org) or through our contact form. We can help you identify the “DNA” of your company, how you differ from your competitors, and how to communicate your value to potential customers.