Yes, an effective brand strategy can absolutely be the key to growing your business
Before delving into brand strategy, let’s first define the concept of branding.
Simply put, branding is the process of assessing the worth and legitimacy of a company, product or service. A brand is defined by a distinct set of qualities, benefits and features.
Conversely, brand strategy establishes the rules and principles for communicating your brand messages. A well-defined and implemented brand strategy results in a coherent brand message, a deep emotional connection with clients and increased brand equity.
For example, a shoe company might also highlight its desire to make the world a better place by including such words in its vision as “to create a better tomorrow for future generations.”
What are the different types of brand strategies?
Depending on your business’ needs and goals, you may implement one or more of these strategies.
Company name branding
A firm may use an overall vibe or attitude to sell or represent its products. This branding technique creates an emotional link between the firm and its consumers.
Apple, for example, uses attitude branding to successfully connect with their customers by emphasizing how Apple devices make them feel. They value simplicity: the simple logo represents more than just a PC, but how tech can simplify everyday life.
Large enterprises with a wide range of well-known items may brand each one individually. Coca-Cola, for example, is the parent corporation but markets its various brands such as Minute Maid, Diet Coke, Fanta, Sprite, etc.
A powerful brand may seek to expand its success into a new endeavor through brand extension. For example, a cereal company can use brand extension strategies to sell candies or drinks. Undoubtedly, the products may change, but the brand identity remains.
Successful shop brands can compete with big stores through private-label branding techniques.
Why does your business need a brand strategy?
Brands embody customers’ perceptions of a company’s legitimacy, products, reputation and customer experience. A brand strategy is critical because it establishes a framework for understanding the competitive forces, market position and customer expectations. This data is essential for developing efficient marketing strategies and fine-tuning marketing messaging to enhance your efficiency and build powerful brands.
Branding improves a company’s market competitiveness and productivity through enhancing name recognition, establishing credibility and trust, boosting advertising effectiveness and motivating personnel.
How do I create my brand marketing strategy?
This is a fundamental question!
Even if you have a brand marketing strategy, it helps to know these essential steps to learn whether you correctly developed yours.
1. Start by creating a road map brand
Before embarking on brand marketing initiatives, it’s critical to identify and craft a road map to your branding strategies. This includes deciding on your objective, values, brand personality, tone and overall appearance and feel. If you’re aiming to create a brand book, now is the time to start working on it. It will serve as a guide for all of your branding actions.
2. Know your target audience
The concept of a brand varies with the audience. A cigarette brand, for example, is seen differently by smokers and non-smokers. A brand marketing plan should address all of the different target segments and how the messaging should look for each while being consistent with the company’s overall values and vision.
3. Create your brand's marketing messages
After defining your audience, craft information that appeals to them. How you’re going to communicate should be an area of concern. Many brands opt for trendy social media ads (we’re looking at you, TikTok), forgetting that other channels such as YouTube marketing and native ads are equally important. Don’t settle for less—even if your local advertising channels work, consider using other ads as well.
Of course, your marketing messages are going to vary with the channels. For instance, certain types of copy may be more effective on Facebook and your website. On the other hand, images and logos are well-suited for Instagram and Snapchat.
4. Launch and analyze your initiatives
After launching the campaigns, you’ll have to test their performance—especially digital campaigns—and monitor them closely. Compare their performance with your set targets and industry benchmarks.
For example, you can look at the sales figures before and after the campaign launches and check whether they align with your targets or your competitors’ audience.
5. Narrow down on your success
Not every campaign on your respective social channels will be successful. So after making a comparison, select which one performed better and build on that. For instance, if your brand video did better than the rest, you can create follow-up videos. Narrowing down to successful lines will also save you marketing and advertising costs.
Nevertheless, when building on your success, remember to be consistent. Avoid mentioning things that don’t enhance or relate to your brand. Adding a new video to your Instagram? What does it imply? Is the message funny or confusing, or does it align with your branding strategy? It’s best to ensure that your messages are cohesive.
It’s important to remember that every company’s journey to branding and developing brand strategies is different. The points mentioned above only form the backbone of what it takes. To stay on the right path, it’s best to hire brand marketing experts to help you make informed decisions with efficient, impactful and scalable insights.
If you’re ready to get started on your brand strategy, contact our team at Brown Bag today. We are an award-winning marketing agency based here in Atlanta, and we’re ready to help you achieve your business goals!