Effectively communicating your organization’s brand strategy is how one builds a strong reputation of genuine core values among your target market.
Advising organizations and individuals on a wide range of campaigns involving media strategy, messaging, external and internal communications, and brand positioning, as well as guidance through any crisis situation are all part of a successful branding strategy.
What is Brand Strategy?
Brand strategy is a long-term plan that outlines how the company will build rapport and favorability within the market. The goal of a brand strategy is to become memorable in the eyes of prospective customers so that they decide to patronize your business over the competition.
Crowded markets are dominated by recognizable brands with an effective strategy for elevating awareness with potential clients. Building a strong brand requires companies to make intentional, smart choices about their visual identity and brand story.
The good news is that brand strategy doesn’t have to cost a fortune. In fact, a comprehensive brand strategy can give you a huge competitive advantage and pay for itself many times over.
The Importance of Strategic Branding
Why would a buyer seeking a new car go for one brand over another, a Kia vs. a Mercedes for example.
Branding enables prospective buyers to distinguish between alternatives in the market. It’s precisely because of effective branding strategies that most people immediately know that Kia stands for affordable, reliable cars, whereas Mercedes provides upscale luxury.
Effective brand strategy builds customer loyalty. An old saying exists, “people don’t buy products, they buy brands.” This speaks to what’s at the very heart of strategic branding, trust.
Customer loyalty comes from establishing trust with a target audience. An effective strategic approach identifies a target audience and builds an emotional benefit with those potential clients. Building a strong brand voice is a sure-fire way to attract prospective clients and keep a firm grasp on their loyalty to your core product.
Define Your Brand’s Audience
Who is the target audience? Identifying these potential customers and establishing a deep understanding of who they are and what motivates them to make the choices they do can also help a brand pinpoint the unique selling points and value proposition that their service or product offers to that target client.
Obtaining a firm grasp of your target audience is not just a case of identifying demographic and geographic information such as age, gender and location – you also need to understand people’s interests, values, and aspirations (known as psychographics).
Similarly, it’s also important to identify what your target client doesn’t like – this helps you to understand which potential pitfalls to avoid. All of these consumer insights will be useful in crafting a successful branding campaign.
Determine Your Brand Objectives
Every brand should have goals set in its marketing strategy to track brand evolution. Otherwise, the business wouldn’t know which way it goes. Brand objectives are critical to effective brand management.
Business strategies always value a strong brand identity with a consistent brand voice. An organization’s goals for brand objectives should be specific, action-based and measurable. Having a clear purpose for your brand can help various employees, departments and supervisors work together, as well as increase audience engagement, brand advocates or market shares.
The Benefits of Strategic Branding Management
Branding is what makes you stand out in a crowd. Being strategic in doing so has endless benefits for reaching potential customers and driving sales to the bottom line. Strategic branding management can:
Help various employees, departments and supervisors work together
Outline a clear purpose for a brand
Improve their perception within the industry
Give team members clear performance expectations
Increase audience engagement, brand advocates or market shares
Drive sales and improve customer loyalty
Increase reflection among employees to improve or refine future branding objectives