To develop an effective brand strategy, it is important to understand what we mean by the term. By definition, brand strategy is a long-term plan for the development of a brand in order to achieve its long-term goals.
What the brand offers, what it looks like, what it stands for and so on.
An effective and comprehensive strategy is often defined by the needs and emotions of the consumer, and of course, the competition.
A competitive brand positioning gives the brand that edge in the market, the brand is looking for.
To develop a brand strategy that works for your brand, it is important to identify the key elements of a killer brand strategy. As mentioned earlier, competitive positioning i.e. knowing who your competition is – identifying their strengths and weaknesses is the first key component that leverages our own brand, and helps overcome the gap in the market. Find out what your competition is doing – or plans to do, and then do it better and faster.
Secondly, know the driving force behind your brand and the people who work for it. Know the end purpose of your brand and find out why your internal and external stakeholders are willing to engage with it, because they are the ones who are truly at the heart of the brand. Your people are what makes your brand. And your consumer is why you made the brand.
Thirdly, development of the brand’s creative elements. While many think that logo, slogan, typography etc. are the only components of a brand strategy – it is not true. All creative elements are components of the larger strategy.
What’s also important to build a strong strategy is a unique brand promise. What a brand promise simply does is that it puts the customers needs in context to your brand. Where, the strategy should always be in line with the brand promise and vice, versa. And in the same spirit, we must substantiate our brand promise with reasons why the customer would believe and accept what we offer. Through our brand promise we market our strengths and hold our place in the market.
Another key component is market research, which helps us learn market positioning, new opportunities and very important consumer insights. Consumer insights define the brand’s opportunities and the demand of that product/service in the market. They also paint a clear picture of the profile of your consumer. Market research puts a face to the consumer and numbers to a brand’s success and failure.
Consumer insights help you build a key message for your brand and the right personality that matches the message. What do you stand for? What do you believe in? Who do you relate to? The right brand strategy goes as far as defining your approach and personality across different media – online, offline, print, etc. The best brand personalities are real and human. And so is their messaging and tone.
And last but not the least, to develop a brand strategy we need to keep in mind that the plan for our brand has a safety buffer for challenges and obstacles. It needs to be flexible – change with time and according to media. Be progressive and grounded. And most importantly, be relevant.
Therefore, the best brand strategy lies in the depth of your brand.
So you know your brand, and now you know how to develop the best strategy for it.
An effective and comprehensive strategy is often defined by the needs and emotions of the consumer, and of course, the competition.
A competitive brand positioning gives the brand that edge in the market, the brand is looking for.
To develop a brand strategy that works for your brand, it is important to identify the key elements of a killer brand strategy. As mentioned earlier, competitive positioning i.e. knowing who your competition is – identifying their strengths and weaknesses is the first key component that leverages our own brand, and helps overcome the gap in the market. Find out what your competition is doing – or plans to do, and then do it better and faster.
Secondly, know the driving force behind your brand and the people who work for it. Know the end purpose of your brand and find out why your internal and external stakeholders are willing to engage with it, because they are the ones who are truly at the heart of the brand. Your people are what makes your brand. And your consumer is why you made the brand.
Thirdly, development of the brand’s creative elements. While many think that logo, slogan, typography etc. are the only components of a brand strategy – it is not true. All creative elements are components of the larger strategy.
What’s also important to build a strong strategy is a unique brand promise. What a brand promise simply does is that it puts the customers needs in context to your brand. Where, the strategy should always be in line with the brand promise and vice, versa. And in the same spirit, we must substantiate our brand promise with reasons why the customer would believe and accept what we offer. Through our brand promise we market our strengths and hold our place in the market.
Another key component is market research, which helps us learn market positioning, new opportunities and very important consumer insights. Consumer insights define the brand’s opportunities and the demand of that product/service in the market. They also paint a clear picture of the profile of your consumer. Market research puts a face to the consumer and numbers to a brand’s success and failure.
Consumer insights help you build a key message for your brand and the right personality that matches the message. What do you stand for? What do you believe in? Who do you relate to? The right brand strategy goes as far as defining your approach and personality across different media – online, offline, print, etc. The best brand personalities are real and human. And so is their messaging and tone.
And last but not the least, to develop a brand strategy we need to keep in mind that the plan for our brand has a safety buffer for challenges and obstacles. It needs to be flexible – change with time and according to media. Be progressive and grounded. And most importantly, be relevant.
Therefore, the best brand strategy lies in the depth of your brand.
So you know your brand, and now you know how to develop the best strategy for it.
No comments:
Post a Comment