If you don’t know what brand strategy is, check out our article, where we define brand strategy and share its benefits.
A good strategy takes more of a creative approach than a competitive one. The most prominent definition of a strategy is “a plan of action to achieve a particular goal”. This tells us that defining the goal is essential in developing a strategy. It’s the final destination that will guide your steps in achieving the success you’re looking for.
Brand Strategy involves identifying the moving parts of your business, how they are connected and how they influence each other. And it depends on three essential factors:
- You Competitors. Who they are. How competent they are. Why do people trust them?
- Your Product or Service. What you have to offer. What your brand promises to its customers. How you practice what you preach.
- Your Customers. What do people want, what are their problems and pains? Why should they care about you?
This brings us to Positioning. It defines how people should perceive and interpret your brand in their minds. What your brand needs people to think about it to take some form of action.
How you position yourself can determine the extent of growth in any business. Keep in mind that you should develop a brand strategy by thinking of it as a trigger for a particularly favourable reaction by your customer. People have problems and are looking out for solutions. There may be competitors out there addressing specific consumer needs, but are these addressed effectively or efficiently. Your success will depend on how well you can put yourself in the customer’s shoes and identify what could make their lives better. Once you can ‘position’ yourself to determine and deliver this optimal solution, you will see growth.
This journey relies on building meaningful relationships with people, getting them to know you, like you and trust you. Identity works to get customers to remember you, but your personality and the values you hold dearly will get people to engage. Take your time developing your brand core, mission, purpose, and unique values. Articulate this in your messaging across all customer touchpoints. Everything a brand does should be aligned with its core purpose and unique values.
A brand strategy will most likely be updated over time. However, if you ever plan on rebranding or optimising your brand, you must understand where the power of the brand comes from and what has brought it this far. What makes it so valuable? Why do people choose it? This is what you build on to create brands that stand the test of time. Never underestimate the value of an existing brand nor the time and resources it takes to build a new one.