What's a Brand strategy? Let us Explain!
Have you ever supported a business because you simply loooved the message behind it? If so, what propelled you to purchase the product or service? Would you purchase that same product or service at a lower price point? It is highly probable that at some point or another you were willing to support a business even if it meant paying a premium price. This can be credited to its outstanding branding strategy.
A brand strategy is not merely the website, logo or brand name delegated to a business. In fact, the components that typically comprise a brand strategy are intangible. Firstly, you want to encapsulate what your brand stands for in your strategy, also known as brand identity. Think about the big picture. What is your mission? Your mission statement should encapsulate the reason for your company. What story are you trying to tell? In addition, a unique value proposition (UVP) should be created which explains what sets your brand apart from your competitors.
The visual identity of the brand should be generated by means of a logo. It is important to develop a strong logo that can be easily identified. This is why colour choice is critical; it has a psychological impact on the customer. The right colour choices for your brand will help attract your ideal customers. Another important facet of brand identity is increasing brand recognition via a detailed marketing strategy. For example, a marketing strategy could include the development of a website that frames the mission and UVP of the company. Your marketing strategy will use your brand identity and show it to your target audience.
Brand image is how your brand is perceived by the public. You want to post high-quality content on social media with the vision of the company in mind in order to achieve the desired brand image. The use of public relations to share core messages will help you to raise brand awareness. For example, you can reach out to news outlets or online blog sites in order to grow public relations.
An additional aspect of a branding strategy is brand culture. Once you have defined your brand, it is important to adhere to the set of values which go hand-in-hand with the objective in sight. This means spreading awareness on the values of the brand throughout the organization so that a consistent message can be delivered to the public. Consistency is what allows customers to recognize a brand.
Brand personality allows customers to connect with a company on a personal level. The brand personality refers to the human characteristics of a business. In order to create your brand personality, you first must understand who your audience is. If you possess an understanding of your audience then you can relate to them better. For example, if your audience is younger than a more playful tone in your writing may captivate their attention more effectively.
A brand strategy is much more than a logo. It creates brand loyalty and awareness which will differentiate a business from its competitors. Understanding the four fundamental parts of a brand strategy are essential to the long-term success of a company.
Why You Need a Brand Identity
These four fundamentals are all a part of brand identity. It is important that you have a brand identity so that you have a strong understanding of your brand and its values. How can you get others on board if you are unsure of what your company truly stands for? People will connect and relate to a story, your brand's values, your message. This is why you need a strong brand identity, so your customers and clients can connect with you.