Most of the time, people interpret a brand as a logo, a symbol, or any identity that differentiates several businesses. While this is true, there is more to a brand than just logos and symbols.
Having an effective brand strategy allows you to lay down plans that help place a “face or a feeling” for your business, which, in essence, has several benefits, including reputational and bottom-line effectiveness for your brand.
These days, your brand does more than product or trademark differentiations. Your brand is where you build a community of like-minded individuals who come together for a committed purpose.
For example, one brand strategy a company like Redbull uses is building a community of sports people behind them. In most of their popular commercials, they are targeting the sports community.
In this article, we will be looking at how you can build an effective brand strategy for your business.
What is a brand?
According to the CIM, a brand is not only the logo, symbol, or identity of a business. A brand is the meaning attached to an entity, earned by the combination of reputation[past], experience[present], and expectation[future].
What is a brand strategy?
A brand strategy is part of a business plan that outlines how a brand is effectively going to achieve the aim of exceeding customer expectations.
It details how a company is going to generate favorability and familiarity amongst customers to win over the competition.
Does your business have an actionable plan on how to create a memorable experience for customers, hence making them the go-to choice when customers are selecting a product on the market?
Here are five (5) ways to create a successful brand strategy for your business
1. What is the Big Idea:
Here is where you detail your plans for the community you are creating. This is mostly something you are passionate about. What do you want to be known for? What emotion are you trying to evoke from your customers or future community?
For example, I want the brand NALO to represent how women can challenge the status quo and become leaders in whatever industry they find themselves in.
2. Always back it up with a vision:
Having an idea alone is not enough. You need to draw plans on how to achieve your long-term visions for your brand and community. This way, you can visualize the idea with your team and share a common goal of where you want to be in a period.
For example, to become a global leader in women-led brands in the next 5 to 10 years.
3. Have a great customer experience:
A product/service may be similar, but experiences differ in every organization. Aligning touchpoints to give customers a seamless experience will help you win over your competition easily.
Also, make it easy for customers to share their experiences with your brand.
4. Positioning yourself:
What is the first brand your customers think of when it comes to similar products/services you provide? Positioning your brand helps you create seamless experiences for your client allowing you to control the market.
5. Create a powerful brand identity:
Having a strong identity for your brand allows you to make a memorable first impression. Hence, whenever developing your brand strategy make room to choose colors, symbols, or images that reflect your brand.
For example, a Bank may choose blue to signify dependability, or a lingerie brand may choose red to signify appeal while a Waste management may choose green.
