Many people have the notion that a brand strategy is limited to creating a catchy tagline or a nice logo. Well, that’s nowhere close to the truth.
In the real sense, your brand constitutes everything that makes you stand out from your competitors, including your messaging, your visual identity, and your customer experience. Not to forget how people perceive your business, including the emotions and thoughts they associate it with.
Given the extensive nature of branding, developing a strategy that works is easier said than done.
But worry not. This post will guide you on everything you need to know to develop a strong and successful branding strategy.
What is a Brand Strategy
A brand strategy is a holistic approach that defines how a brand builds identification and favorability with potential and existing customers. It’s a game plan for entering and becoming a leader in your niche. A branding strategy outlines various aspects of your business, including your positioning in the market, brand identity, messaging, and marketing that resonates with your target audience.
Your brand strategy also encompasses how your employees interact with customers and customers’ perceptions of you versus your competition.
That said, the key to long-term success is using brand strategy to define your position in your niche in order to gain market share and revenue growth.
Companies with winning brand strategy examples include Tesla, Uber and Lyft, Apple’s Airpods, and Nike.
Also Read: Cover your Brand
What is Brand Marketing Strategy
A brand marketing strategy refers to a set of guidelines that help businesses identify their core values and the goals they want to achieve. More importantly, a brand marketing strategy helps you determine how to apply these values in the marketplace.
Steps on Developing a Brand Strategy
Developing a sound and successful brand strategy can seem like an uphill task. So, where do you start? Here are some steps that can give you an excellent foundation from which to build.
1. Pick Your Niche
Niching down may involve serving a specific audience, offering unique services, or limiting the products you offer to only those that best serve your customers’ needs.
Instead of spreading your resources thin in an attempt to be all sorts of things to everyone, you should channel your resources to where they’ll be most beneficial. This doesn’t mean you should narrow your focus to a single audience, product, or service. Of course, some businesses can cater to different niches.
In short, lay the foundation of your brand strategy by determining where you’ll gain the most.
2. Define Your Business and Marketing Goals
Remember to outline your short and long-term goals since the whole point of developing a branding strategy is to help you attain these goals.
Think of where you want your business to be in the next few months, years, or even decades. Would you like to increase your market share? Is opening new outlets on the cards? Or are you thinking of going international in a couple of years?
When you consider your goals when deciding on your brand, your marketing efforts can help you achieve those goals.
Researching will help you understand how your competitors and other businesses with which your target audience engages are branding themselves.
Needless to say, you shouldn’t copy them. However, you can gain insights into what’s working for them, how your target audience responds to their tactics, and even learn the shortcomings of your competitor’s branding. This information can serve as inspiration for creating a better brand.
4. Spotlight What Makes You Unique
Even if your product isn’t one-of-a-kind, you can still make it stand out. This is where your brand messaging comes into play. You can customize your brand and make your business stand out by:
- Leveraging vision and mission statements unique to your business
- Providing a statement that clearly defines how your product uniquely solves your audience’s pain points
- Defining the core value t the heart of your product or the service you offer
- Giving your customers a unique experience
5. Think of Your Business as a Person
Everyone has a personality that is unique to them, and so should your business.
Envision your business as a person. What type of personality wants it to have? What traits and characteristics will make your audience perceive it positively? What tone and voice do you want it to have?
By thinking of your business in this light, you will be able to come up with a great brand strategy
6. Create an Excellent Customer Experience
The experiences you give your customers have a great bearing on how they perceive your brand. Give them a poor experience, and they will go to your competitors. Give them a great experience, and they will keep coming back to you.
Plus, satisfied customers will give you great reviews and spread the good word about the great experiences they got by purchasing your goods or services.
7. Actively Engage with Your Community
Embrace your local community. People love supporting their local businesses over frequenting large chains.
By actively engaging with your local community, you will establish trust and build long-term relationships with them. You may also be able to turn members of your local community into loyal customers and brand advocates.
8. Create and Maintain a High-Quality Blog
Creating and maintaining a blog has excellent benefits, including increasing your visibility and sales. Besides that, a blog is also a great way of developing your brand—branding aims to make your business more identifiable, and a blog happens to be an excellent platform for communicating your business’s unique personality and intent.
9. Integrate Your Social Media Accounts
Apart from your website, your social media serve as representatives of your business online. Whether on Facebook, Twitter, LinkedIn, or other platforms, ensure that you maintain the same design, contact information, and visuals. After all, 90% of consumers expect similar brand experiences across multiple channels.
10. Strategically Develop a Visual Identity
Just like a strategy is important when choosing your messaging, it is the same way it is when choosing your visual identity. For instance, don’t choose a color that suits your personal preference. Choose one that’s ideal for your business. After all, studies have shown that between 62% and 90% of snap judgments made by customers are based on color.
Also Read: What Can A Marketing Strategist Do For You?
Why a Branding Strategy Is Important
Here are a few starts that show you why having the right branding strategy is crucial:
- Companies with poor branding pay 10% higher salariesin the long run.
- Consumers who emotionally connect with a brand have a 306%lifetime value.
- Branded content is 22x more engagingthan standard ad display
- 84% of marketerssay that brand awareness is the most vital goal
Let a Professional Help You Develop Your Branding Strategy
When your brand strategy is properly created, it provides support and direction to your business. It tells you what makes your business unique, how your audience perceives it, and where it ranks in your industry relative to your competitors.
Are you looking for help developing your brand strategy? Let branding experts at VIP Marketing, a branding agency in Charleston help you. Our professionals work hard to get all the information we need about your business, including your goals, who your competitors are, and more, to ensure we develop a sound brand strategy for you. For more information or to get started with our services, contact us today.