What is Brand Strategy?
Brand strategy is a plan that encompasses specific, long-term goals that can be achieved with the evolution of a successful brand — the combined components of your company’s character that make it identifiable.
A well-defined and executed brand strategy affects all aspects of a business and is directly connected to consumer needs, emotions, and competitive environments.
Seven Components for a Comprehensive Branding Strategy
While understanding what your business promises is necessary when defining your brand positioning, knowing why you wake up every day and go to work carries more weight. In other words, your purpose is more specific, in that it serves as a differentiator between you and your competitors.
The key to consistency is to avoid talking about things that don’t relate to or enhance your brand. Added a new photo to your business’ Facebook Page? What does it mean for your company? Does it align with your message, or was it just something funny that would, quite frankly, confuse your audience?
Customers aren’t always rational.
How else do you explain the person who paid thousands of dollars more for a Harley rather than buying another cheaper, equally well-made bike? There was an emotional voice in there somewhere, whispering: “Buy a Harley.”
In this fast-changing world, marketers must remain flexible to stay relevant. On the plus side, this frees you to be creative with your campaigns.
In other words, “effective identity programs require enough consistency to be identifiable, but enough variation to keep things fresh and human”
5) Employee Involvement
As we mentioned before, achieving a sense of consistency is important if you wish to build brand recognition. And while a style guide can help you achieve a cohesive digital experience, it’s equally important for your employees to be well versed in the how they should be communicating with customers and representing the brand.
If you already have people that love you, your company, and your brand, don’t just sit there. Reward them for that love.
These customers have gone out their way to write about you, to tell their friends about you, and to act as your brand ambassadors. Cultivating loyalty from these people early on will yield more returning customers — and more profit for your business.
7) Competitive Awareness
Take the competition as a challenge to improve your own strategy and create greater value in your overall brand. You are in the same business and going after the same customers, right? So watch what they do.
Do some of their tactics succeed? Do some fail? Tailor your brand positioning based on their experience to better your company.