Developing a brand strategy can be one of the most difficult steps in the marketing plan process. Your brand identity should be repeatedly communicated, in multiple ways with frequency and consistency throughout the life of your business. Your brand strategy identifies three core components of your business, which can then be used as a blueprint for evolving your marketing strategy and techniques. The three core components include:
Purpose: Your business must have a functional and intentional purpose.
Consistency: Without consistency, a business will struggle to survive.
Emotional Impact: A brand strategy helps you develop that emotion.
To begin the growth of your brand's strategy you must have an understanding of these four marketing components:
- Primary Target Customer
- Product and Service Mix
- Unique Selling Proposition
By identifying these components of your marketing plan you have the basis for crafting your brand strategy. An effective branding process creates a unique identity that differentiates you from the competition.
A strong brand is invaluable as the battle for customers intensifies day by day. It's important to spend time researching, defining, and building your brand. After all, your brand is the source of a promise to your consumer.
Your brand definition serves as your measuring stick in evaluating any and all marketing materials and strategies—from what your office looks like to what your ad says to the colour and font of your business cards to the design of your website.
Critical to effective brand management is the clear definition of the brand’s audience and the objectives that the brand needs to achieve. Ask yourself two key questions to help determine your brand objectives. What is it that you want your brand to do for your company? And what do you want others to know and say about your products or services?
The power of your brand relies on the ability to focus. That is why defining your target market will help to strengthen your brand’s effectiveness. Your target audience determines the range of your focus.
When creating your brand strategy for a product or service it is important to perform a careful analysis to spot barriers that you may come in contact with. These barriers are also known as market conditions, and they can keep your product or service from being successful.
Branding is as identifiable to our customers as your face is to friends and family. It’s how people see you in the marketplace. Your company image is all about the appearance of your packaging. If your packaging doesn’t uniquely represent your business, change your packaging.