The first step is learning as much as possible about your business, customers, and industry. Study what’s happening in your field closely. Look at similar companies and what they do well. Talk directly to customers through surveys and discussions.
Find out how they see your brand now. Consider your advantages, disadvantages, and room for improvement. Also, consider risks outside your control. Review sales and feedback for clues on what’s working and what needs help.
All this research provides important insights. It informs the next decisions by revealing what matters to customers and how your brand can better serve them. This discovery phase lays the groundwork for an effective strategy.