The goal of creating a brand and executing a brand strategy is to bring the image of your product to mind when the customer sees your logo or hears the product’s name. In comparison to marketing strategies, brand strategy is a long-term plan.
When building a brand strategy, keep in mind your brand’s goal and what you’ve promised your potential customers.
A good brand strategy will bring you brand loyalty and awareness and, most importantly, help you increase your profit in the long run.
Why Do You Need a Brand Strategy?
- Collaboration. Branding starts with setting specific goals and visions. In your business, you have different departments that focus on different tasks. However, your brand goals bring your teams to work together and show your brand’s identity in various places.
- Helps your marketing strategy. It enables you to shape your marketing strategy by using your brand’s message and voice in every marketing channel, like advertising and social media marketing.
- Brand and customer connection. It brings brand loyalty by creating a connection between brand and customer. The survey of KPMG reveals that 86% of loyal customers recommend brands to their friends.
- Distinguishability. Creating a brand image brings distinguishability for your product in the marketplace. For example, Coca-Cola and Pepsi are soft drinks, however, people can easily distinguish them from their logos and colours.
- Higher pricing. This is about the trust factor and customer loyalty. If your brand has a good reputation among customers, and you manage to build solid customer loyalty, people will be willing to pay more for your product.
What Do You Need to Do Before Creating a Brand Strategy?
There are a couple of necessary steps you should follow before creating a solid brand strategy.
Clarify Your Purpose
Before starting to build your brand strategy, you need to define the brand’s purpose, message, vision and end goals. When customers engage with your brand, they should be able to see your purpose and distinguish your brand from others.
For instance, Coca-Cola explains their vision as refreshing the body and spirit with their soft drink, and they show that in their ads.
Define Your Target Audience
Defining your market audience helps you deliver your brand’s message and marketing strategies and connect with your potential customers.
You can define the features and demographics of your customers. Their ages, occupations and personalities will help you set up your brand’s voice and language.
Design Your Brand
After clarifying the purpose and defining your audience, it’s time to design your logo. Online designing tools and freelance graphic designers can help you with this task. You need to create something eye-catching. You can do that by using colours, images or typography. Maybe, you even can find a way to put your brand’s story in your design.
After completing the previous steps, start to work on your brand guideline. A brand guideline carries all necessary information about your brand: mission, message, voice, language, how to use the logo, etc.
It will bring consistency to delivering your brand’s message in every department and marketing channel of your business.
Creating a Brand Strategy
Who are You?
As a new company, you need to define your business strategy. Think about where you want to see your brand ten years later. How are you going to reach your goals? How will you engage with people? What are your marketing strategies? etc.
Use your brand to define who you are. Your brand will help you to reach your goals. Remember, your brand is your most powerful tool for delivering the company’s message and vision.
Show What Makes You Different
Marketplaces are full of competition. You need to show what makes your brand different from others. For example, let’s think about Coca-Cola and Pepsi. Both are the same soft drink; however, their target audience is slightly different. In its ads, Coca-Cola primarily uses family gatherings, but Pepsi prefers to address teenagers or friend groups.
Even though there are similar products in the marketplace, find your unique selling point and show it with your brand.
How to Deliver your Brand’s Message
After you have defined your target audience and specified the demographics to address it, you need to find an efficient way to communicate with those people. You can do market research and see how your competitors engage with their customers.
Also, to grow your business, you will need to find a way to deliver your brand’s message outside your target group.
Develop a Content Marketing Strategy
In a nutshell, content marketing is developing valuable content using different channels or strategies of marketing. Your brand strategy aims to bring distinguishability to your brand and, in the long run, profit. You can achieve those goals if you use them efficiently and combine your brand and content marketing strategies well.
Use Social Media Smartly
Social media platforms are an inseparable part of our daily lives. Many people engage with each other through different platforms. Many marketers are aware of it, and a study shows that 70% of marketers use social media to bring brand awareness to their businesses.
Each social media platform has unique demographics. Therefore, keeping your language, design and message consistent on each platform will bring distinguishability and brand awareness.
Brand Strategy Types
There are various brand strategy types. We chose the three most relevant ones.
Using the Company’s Name
It’s one of the most commonly used brand strategies. Many companies prefer to use their name as a brand. Coca-cola, Google, H&M, and Zara can be given as examples.
When we see or hear Zara or H&M, we don’t only see products but their values, vision and mission in their ads.
Using Personal Images
Famous people often use personal branding to promote their brands. They usually try to tie their brands with their personalities.
For example, in the last few years, with the increasing interest in skin care, many celebrities have created their beauty lines: Rihanna – Fenty Skin and Fenty Beauty, Ariana Grande – R.E.M Beauty or Lady Gaga’s – Haus Labs by Lady Gaga.
Using the Product’s Name
Here, a company chooses a product and markets it by using the product’s name. The best examples of this type can be shown in Apple and its products. Apple is great at marketing and bringing distinguishability to its products. For instance, Apple promotes its phones like iPhones, music players as iPods, and computers as iMacs and Macs. Using the Products’ names brings a unique identity to these products, while tying them with Apple and representing the company’s values and message.
Building a brand strategy is a great tool to let your brand stand out in the market. Like marketing or business strategies, brand strategies require time, study and patience. Your brand represents your company’s identity and values; that’s why it’s your most valuable tool. A well-designed brand strategy will bring your company brand identity, awareness and distinguishability.