A brand strategy is essential for continuous growth and long-term business success. Businesses need to have a solid brand foundation first — you need to know what your brand is about and what you want to achieve in the future to create an effective brand strategy.
Defining Brand and Branding
It’s not enough to come up with a business name, give it a logo, a tagline, and then call it a day. When crafting a brand strategy, it is important to understand the basics first.
What is a Brand?
A brand could be explained simply as a customer’s perception of your company. It’s more than a logo, name, or slogan — it’s the entire experience that your customers, colleagues, and competitors have with your business.
“Your brand is what other people say about you when you’re not in the room.” - Jeff Bezos
What is Branding?
Branding is the process of using unique assets to craft people’s perceptions of your company. It shapes consumer’s opinions of your products, services, and your whole business. Branding is a marketing technique that helps companies establish a unique presence in the marketplace while differentiating from their competitors.
Building brand systems involves building who you are in the minds of your customers. The brand-building process will often help small businesses define a unique name, story, strategy, and visual identity. And, in order to make all of this happen, you need a brand strategy.
Brand Strategy Made Simple
Your company’s brand strategy is the gateway to all your marketing efforts. It should represent the very essence of your business — what makes you special, why people should choose to work with you, and where you are headed.
Your brand strategy should guide all of your communications and marketing so that they are in line with your company’s values. It should serve as a guide to help your company evolve and reach specific, long-term goals.
Strategy vs. Tactics
Brand strategy shouldn’t be confused with tactics. Strategy is your vision, while tactics are your actions.
Strategy refers to your company’s long-term plans or goals for the future. It outlines what you want to achieve and dictates the general activity needed to help you do so. Your strategy should serve as a guide for your tactics.
Meanwhile, tactics are the details. These are the specific steps or actions you plan to take to reach your business and marketing goals. These are practical in nature and are made for implementation.
Why Do You Need a Brand Strategy?
A brand strategy is essential to help strengthen your brand. It is what helps you create a genuine and meaningful connection with your audience.
Without a strategy, it is easy to be inconsistent in your marketing. You might find yourself wasting money on quick-fix marketing methods without a planned timeline, consistent messaging, or clear purpose. An effective brand strategy also acts as a benchmark for your business. It can help you determine whether you are moving closer to your goals or not.
Strategy and branding is a difficult and often misunderstood process. But it doesn’t have to be overwhelming or complicated. Your brand strategy will play a big part in your company and should not be overlooked. Keep it straightforward and simple.
The Elements of an Effective Brand Strategy
Building your own brand strategy might seem like a daunting task, but it doesn’t have to be. All the elements are already in your head — you just need to put them on paper in a way that makes sense to your colleagues, competitors, and customers.
Below are the elements needed to create an effective brand strategy and the questions they should answer about you and your business.
- Brand Story: What led you to where you are today?
- Brand Values: What really matters to you?
- Brand Mission: Why do you do what you do?
- Audience Personas: Who are your customers? What can they teach you about your brand?
- Competitor Research: Who are your biggest competitors? What can you do to stand out?
- Brand Positioning: Where does your brand sit in the market? Where do you hope to go?
- Brand Architecture: Are you a branded house or a house of brands?
- Brand Touch-points: How do people interact with your brand?
Conclusion
As challenging as it might be to create a brand strategy, it is something that you absolutely cannot avoid. Defining who you are and what goals you want to reach makes it easier for others to relate with you. You need a brand strategy to help you forge connections with your customers, employees, and partners. In any way you look, a well-crafted and properly defined brand strategy will bring your business the success you desire.
