We sometimes tend to think that the best and most successful brands existing today popped up overnight.
Truth to be told, Branding your business takes effort, sweat, and months not to say years.
Businesses want a brand that performs, guarantees an interesting return on their investment, and allows them to stand out from their competitors. As for people, they want a brand that cares about them and connects to their values. In order to provide the Brand Connection your company is striving for, you should consider building a Strategy for your brand.
What is Brand Strategy?
Brand Strategy is a combination of the Brand you represent and the Strategy you are implementing to deliver results in the market.
A brand is how people perceive your business when they see or experience it. A brand strategy is an actionable plan that helps you reach long-term business goals as well as the right audience depending on your business preferences. Taking the time to build a strong brand strategy is important and comes before jumping into the brand design process.
What are the key elements to building a Brand Strategy?
1. Target Audience
In order to solve your target customer’s problems and help them overcome the challenges they are facing, you should first know them and resonate with them.
2. Brand Promise
To motivate customers, you must create your brand promise, which is a tangible benefit that makes your product/service desirable. It must be authentic and credible, and of course, it must be kept every time.
3. Brand Perception
Your brand perception is defined by what customers believe your product/service represents. Brand perception comes from your customer use, experience, and word-of-mouth recommendation.
4. Brand Values
Your brand values or brand equity are the beliefs that you, as a company, stand for. They shape your brand’s culture as well as your customers. It should resonate well with both your employees and consumers.
5. Brand’s Tone of Voice
A brand’s tone of voice highlights two elements: voice and tone. Your company’s voice is consistent and describes its personality. As for your company’s tone, it refers to the emotional inflection applied to your voice and can differ from one particular message to another.
6. Brand Positioning
Brand positioning is defined as the space your brand occupies in the mind of your customers. More than a tagline or a nice logo, brand positioning is a marketing strategy used to differentiate your company from your competitors.
Should you really invest in Brand Strategy?
If you want to build a strong and impactful brand, it is important to have a clear and actionable brand strategy. It would set you apart from your competitors, maximize your brand’s relevance in the hearts and minds of your customers, as well as transform your product/service into one with a story and life of its own. Building a brand strategy helps your business achieve greater results.
So yes, you should definitely invest in the process of developing your Brand Strategy.
But, how does that work?
How to develop a Brand Strategy?
Now that we know what a brand strategy is and why it is important to your business. You might start to think that developing a long-term plan for building your brand is an overwhelming task.
Where do I start? What should I do?
We have prepared 5 essential steps to follow if you want to build an effective brand strategy:
Step I – Create your brand personality
In order to connect to people, find the tone of voice, look, and feel.
Step II – Conduct research
Consumers and market researches help you better understand your brand’s strengths, weaknesses, current opportunities and emerging threats.
Step III – Tailor your brand messaging
By crafting cohesive brand messaging, you get to inspire your audience by communicating your brand’s unique value proposition and personality.
Step IV – Build your brand identity
Your brand identity represents the personality of your business and the value you convey to your customers.
Step V – Write an action plan
The action plan should offer specific tactical actions that deliver on the company’s strategic objectives.
– Nyron Drepaul
Senior Business Advisor, BDC Advisory Services
When created properly, your brand strategy provides guidance to your business. It defines where your company stands in the market and identifies the key elements that differentiate you from the rest.
So, what about you? Have you started working on your Brand Strategy yet?
Stay tuned for our step-by-step guide that will help you build a clear and actionable Brand Strategy.
Here at Agency 99, we make sure to guide you through the process of building your own Brand Strategy that positions you for long-term success.
Want to find out more? Contact us