Build a brand. Not a business. ~ Richard Branson
Your brand strategy essentially encompasses your identity, setting you apart from the competition. And behind every successful brand is a well-thought-out strategy, steering the business’s decisions.
At its core, a brand strategy is a specialized marketing approach that shapes how a business showcases its brand to customers and positions itself in the market. A potent brand strategy can firmly establish your business, captivate your desired audience, and convincingly highlight your uniqueness compared to rivals.
In this discussion, we’ll delve into brand strategy – the methods that set you apart and the vital components for a lasting brand presence.
Let’s Get Started!
What is Brand Strategy? (Definition)
Brand strategy is vital to your business plan that outlines how you’ll connect with the market. It’s about making people remember and choose your business over others. Your brand is more than your logo or name—the intangible feeling that sets you apart. A well-crafted brand strategy affects every aspect of your business and links directly to what customers want, how they feel, and the competition.
Your brand strategy shapes your identity. It’s not just visuals but voice, story, values, and vibe. Like scaffolding, it upholds your business presentation. A strong brand strategy is essential. It takes time and effort, but it’s necessary for business success.
What are The Elements of a Brand Strategy?
A brand strategy is like a roadmap for a company to tell people who they are and what they stand for. It’s how they make a connection with customers and build loyalty. There are a bunch of essential parts to this strategy:
– Brand Story: Think of this as the tale of how the brand started, its values, and what it stands for. Sharing this story creates a bond between the company and its customers.
– Brand Voice: This is how the brand talks and communicates. It’s like the brand’s personality and helps customers know what to expect from the company.
– Brand Design: This is how the brand looks – the colors, fonts, and style. Good design shows what the brand is about and helps it stand out.
– Brand Values: These things matter most to the company. Sharing these values helps attract customers who care about the same things.
– Brand Vibe: The vibe is the feeling customers get when interacting with the brand. It could be fun, serious, or anything in between. Creating a consistent vibe makes the brand memorable.
By putting all these pieces together, a brand can create a strong strategy that makes people want to be a part of it. It’s like crafting a story that customers can believe in and connect with.
Why is it Necessary To Develop a Brand Strategy?
Building a brand strategy is like giving your business a roadmap. It tells you where you’re headed and how to get there. It helps you share your values and what makes you unique with customers.
When your brand is consistent, people trust it more. A strategy also helps you make smart decisions and focus on what matters. It’s like having a plan that keeps everyone on the same page, working towards the same goal. Without a strategy, your brand might feel confused or lost.
So, if you want your business to succeed, having a brand strategy is super important!
What are Different Branding Methods?
Branding is how companies make their products and services stand out. There are various ways they do this. Let’s look at different branding methods:
1. Individual Branding
Individual branding is when a product or service gets its very own name and identity. This is often used when a company has different divisions that create unique products. Unilever, for example, has various divisions that make different brands like Dove, Lipton, and Axe. Each of these brands has its own identity to attract specific customers.
2. Co-branding
Co-branding is like teamwork between two brands. They come together to create a new product that combines their strengths. Think about Nike and Michael Jordan collaborating on Air Jordans. This helps both brands – Nike gets the star power of Michael Jordan, and his name is associated with cool sneakers.
3. Product Branding
Product branding is probably the most common type of branding. It’s when a brand uses logos, names, colors, and designs to give a specific product its identity. Consider Apple’s MacBook lineup – names like “Air” and “Pro” and their distinct features create a unique image for each product.
Related: What is Product Branding? 8 Product Branding Examples!
4. Brand Extension
Brand extension is when a company takes an existing, well-known brand and uses it to launch a new product. This helps the new product because people already trust the original brand. Imagine if a popular ice cream brand started making cookies – you might be more likely to try the cookies because you already like their ice cream.
5. Insider Branding
Insider branding is about becoming an expert in a certain group. By being part of that group, a brand gains credibility and trust. This can happen by engaging in conversations on social media or joining relevant communities.
6. Attitude Branding
Attitude branding is about creating a certain feeling or vibe around a brand. It’s not just about the product itself but about the emotions and lifestyle that come with it. For instance, think about Nike and its famous slogan, “Just Do It.” When you see this slogan, you’re not just thinking about shoes; you’re thinking about a whole mindset of pushing yourself to achieve your goals. Nike promotes the idea that anyone can be an athlete when they wear their products, and this feeling is what sets them apart.
Brands use these methods to make their products special and attract customers. Different methods work in different situations, and smart brands choose the right one.
How To Build a Brand Strategy?
Building a brand strategy involves creating a clear plan to make your brand stand out and connect with your target audience. It’s not a one-time task but an ongoing process. Let’s break down the steps to create an effective brand strategy:
1. Define Your Brand’s Purpose (Mission)
Your brand’s mission statement should reflect why your business exists and what impact you want to make. Ask yourself questions like:
- What inspired me to create this brand?
- What change do I want to bring?
- What experiences do I want customers to have?
- What role does my brand play in customers’ lives?
2. Envision Your Brand’s Future (Vision)
Your brand’s vision is a long-term goal for what your brand will achieve. Imagine a future without limitations. For example:
- Providing access to education for all children.
- Creating a more connected world.
- Becoming a leading provider of entertaining experiences.
3. Identify Your Brand’s Values
What does your brand stand for? Define the core values that guide your brand’s behavior, such as empathy, passion, tenacity, and trustworthiness.
4. Position Your Brand in the Market
Differentiate your brand from competitors by highlighting its unique qualities. Consider:
- What sets your brand apart?
- How do your offerings differ from others?
- How will your target audience perceive your brand?
5. Develop Your Brand’s Voice
Your brand’s voice is how you communicate your message. Consider the tone, words, and phrases your brand would use. For instance:
- What do you want your brand to be known for?
- What words describe your brand’s personality?
6. Design Your Brand’s Identity
This involves visual aspects like your logo, colors, fonts, and more. Design choices should reflect your brand’s:
- Mission, vision, and values.
- Voice and personality.
- Emotions you want customers to feel.
Related: Brand Identity: How To Build a Successful & Memorable Brand?
7. Create Brand Guidelines
These guidelines ensure consistency in how your brand is presented. Include directions for using the logo, messaging, colors, typography, and more across all platforms.
8. Understand Your Target Audience
Know your ideal customers inside out. What do they need? What motivates them? This knowledge helps tailor your messaging and strategies to resonate with them.
9. Establish a Unique Position
Differentiate your brand by positioning it uniquely in the market. Focus on your brand’s distinct value and how it solves customers’ problems.
10. Craft a Compelling Message
Create a brand story that resonates emotionally with your audience. Highlight how your brand can solve their problems and improve their lives.
11. Develop an Engaging Visual Identity
Design a consistent visual identity with logos, typography, and color palettes that align with your brand’s essence.
12. Leverage Technology
Use technology to manage social media, run campaigns, create websites, engage with customers, and more. Technology provides valuable insights into customer preferences and behaviors.
13. Analyze and Refine
Regularly evaluate your strategies, messaging, visuals, and technology. Adjust your approach based on what’s working and what isn’t. Keep an eye on competitors and adapt as needed.
Final Thoughts
Branding hasn’t fundamentally changed. What’s changed is the countless new ways to express your brand in today’s diverse outlets and platforms. When you do this successfully, you’re making your brand more valuable. Customers recognize your uniqueness, and this boosts your brand’s power.
Now that you’ve completed your brand strategy, you can tell your brand’s story, align it with your business, and build enduring relationships. True brand strategies create connections by being genuine, capturing your brand’s essence in its voice, and reflecting its personality in design.
And to stand out and thrive, you need strategic branding.
Good Luck!
Further Reads:
Ethical Branding: Definition, Benefits, Best Practices, and Tips!
Brand Assets: What Are They & Why Are They Important?
Brand Awareness: Definition, Strategies & Examples!
How To Build A Solid Social Media Presence For Your Brand?
What is Brand Loyalty & How to Build it? (Characterisitics, Examples)
