Everything You Need to Know About Brand Strategy

Creating a brand strategy has to be one of the most critical steps in developing a marketing plan, as this serves as a foundation informing the company identity.

But what does that really mean for a business? Can a company go by without a proper brand strategy? Before we look into its process, let’s first understand the concept of strategic branding.

What Is a Brand Strategy?

When we talk about a brand strategy, we refer to a formal, long-term plan made by a company to create an image for itself, specifically of how they want to be perceived as by customers. The goal is to develop a well-defined brand strategy that can affect every single aspect of a business, from a customer’s needs to its competitive environment. But a brand strategy plays a significant role not just for small businesses, but for large corporations that have already established themselves in the industry as well. This is because a brand strategy does not take effect only at the beginning, as consistency is key to successful branding.

So, how can one tell if a company has a strong brand? For one thing, if a person knows who the company is and what they do without even being told, then a company has successfully branded itself to its market. To help you create an effective brand strategy, ask yourself the following questions:

• What do you do? This refers to the products or services you offer your customers and how they may benefit from it. Do you provide office supplies for convenience and cost-effectiveness? Or do you promise fast deliveries for any part of the world?
• Who is your target market? While most companies strive to cater all types of consumers, there’s always a specific group that would be the most interested in your brand.
• What is your brand’s image? This goes beyond your logo design, as anything that can be associated with your brand represents it.
• How do you want people to feel about your brand? Customers typically develop an emotional connection towards a particular brand. For instance, Coca-Cola can make one feel happy and relaxed just as much as Apple could make one feel trendy and sophisticated.
• When and where are people likely to encounter your brand? When forming a brand strategy, you’re also developing a marketing plan. This is everything that your target audience sees that relates to your brand.
• Why should consumers choose you? Every business is up against a strong set of competitors that serve the same market. Knowing this, it’s important to convey a clear message that makes you appear more desirable than others.

Forming the Perfect Brand Strategy

1. Determine the Purpose of Your Brand.

Your brand should reflect your company’s overall image, such as its personality and characteristics. From the impressions you make to what people have to say about your company tagline, these are basic elements that make up your brand. Not only will this help you establish credibility, but it would also influence customers and clients to purchase from you.

2. Define Your Goals.

In developing a brand strategy, you have to start from the very beginning. A series of questions would cloud your thoughts on this one, such as what do you hope to achieve or what do you want the brand to do for the company. By defining your goals, you can motivate employees to strive harder. This will allow you to focus on the main objectives when making decisions for effective brand management. Although you can’t expect to meet these goals anytime soon, it’s a gradual process that requires patience and determination.

3. Focus on Your Prospective Audience.

Having a mission is one thing, but gaining a devoted market to help you reach your goals is another. It’s important for a company to identify its target market before it decides on doing anything else. This involves an intensive process of understanding your audience inside and out to gain information on what they look for in a brand. Through this, you can solidify the message you wish to convey in order to create a stronger connection with your prospective market. It’s not just about creating an appealing image to attract customers, but to also keep them engaged for the rest of time.

4. Communicate Effectively.

The world of business is very complex but to the average consumer, things are perceived through a “what you see is what you get” kind of mindset. Because of this, it’s important for a company to build a brand identity that is easily relatable for their audience to grasp. Not only should the message communicate well with a person, but it should also be delivered accordingly. It’s about taking a holistic approach to branding, which can effectively garner both loyalty and transparency to keep your business afloat.

5. Steer Clear of Short-Term Traps.

By now, we’ve made it clear that it’s impossible to build a brand overnight. With that in mind, it’s important for a company to think about long-term smart goals and sustainable growth by avoiding short-term tactics that only get the job done for the time being. This can be quite challenging for the whole team to focus on, especially when it comes down to the grueling process of decision-making. And although you can’t expect great results anytime soon, the solid foundation you built your brand on offers you a better shot at success.

6. Stay Flexible.

There are some things that go beyond our control, one of which includes the ever-changing industry and market. Even with a good strategy in mind, you still need to adapt to the changes that occur. While Plan A seems like a bad decision and Plan B is out of the equation, remember that there are other letters of the alphabet to try. This means that you need to have a ton of options ready just in case your current strategy takes a turn for the worst.

When running a business, there will be trials and obstacles that will test your ability to withstand even the toughest times. A brand strategy provides direction on where you want your brand to go and how you plan to achieve this. And at the end of the day, it’s all about learning from your mistakes and staying committed to seeing your brand grow.