defining your brand strategy
Brand Strategy simply is the long-term plan in developing a successful brand to achieve specific marketing goals for a business. A well-planned and executed brand strategy is essential because it can affect all the aspects of a business as it is directly connected to the customers’ needs.
What is the biggest misconception when it comes to brand strategy?
Your brand is more than just a logo, website, and your business name. A brand is something that feels intangible and yet still difficult feeling to pin down that separates highly successful brands to mediocre ones.
It is wise to keep in mind that every decision you make for your business affects your brand and not having a unifying vision can damage it — whether giving out inconsistent messages, poorly informed business choices, or ineffective marketing.
Why does a business need a brand strategy?
Brand strategy is a plan on how you’ll connect your business to the people — those who work within your company and those who support your patronage. It is important to be intentional because this builds a series of relationships.
There has been a significant amount of change in customer-brand dynamic, evolving from a transactional relationship that is based on product features to an emotional relationship built on the same and shared beliefs and principles.
Did you know that consistent brand representation across all channels increases a business’ revenue by 23%? This is according to a report from Forbes. A business must creatively and skilfully attract and build a genuine relationship with people in a trustful and authentic way to be able to consider their branding to be successful.
Communication is the key because if you don’t know how to connect with people, there is no way to build relationships with them, one of the reasons why brand strategy is essential. Having an excellent brand strategy would help you build a healthier and stronger business. According to a report from the Content Marketing Institute, 77% of marketing experts say that having a strong brand is crucial to their growth plans.
In addition, a brand strategy helps you cultivate a stronger relationship with your staff and promotes a happier company culture. Therefore, it is highly important that your employees are familiar with your company’s brand strategy.
Determine your company’s brand mission, brand vision, and brand story
Now, first thing’s first, you should know what you are set out to do. Ask yourself about your mission and vision, and why are you doing it because, without the answers to these, you’re not going anywhere soon.
Keep in mind that every business needs a purpose, mission, and story — all of these go hand in hand.
What is your brand mission?
This is a statement that talks about “how.” It should talk about how you plan to get to where you plan and want to be, and how you plan to make a difference. Your brand mission should define the purpose and primary objective of your brand, at the same time, relating back to what your customers really need.
What is your brand vision?
On the other hand, your brand vision should talk about your future destination. This should include your “where,” on where you’d like to go. It should also talk about the future, goals, and objectives for your brand. You can also list out where you want to be in the coming weeks, month, or even years. This would change as your brand progresses.
What is your brand story?
Your brand story the collection of your brand mission, vision, and strategy — telling the story behind your brand. This would help you tell your customers about your brand positioning and in return, it would allow them to align with you.
How to create and develop a brand strategy document?
Keep your brand strategy lean enough to be readable and in-depth enough to give meaning — this is the key to creating and developing a brand strategy document. You may want to consider writing something around the length of a short eBook — otherwise, it may easily be forgotten.
It is highly important to keep in mind that your brand strategy is considered the foundation of your business. It would help your business grow and help you come up with a practical plan for executing your brand communication.
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