Branding seems to be the top priority for most businesses. Whether creating a brand for a company or for its products and services, people appear to understand the important role branding plays in the success of a business. Unfortunately, simply creating a brand and promoting it through marketing and advertising is not enough to take full advantage of what your brand can and should be doing for the long-term growth and success of your business. You must have a brand strategy to optimize the financial gains and competitive edge a brand is capable of giving you.
Brand strategy 101
Brand strategy is a long-term plan for the management and development of your brand. It should align with the goals of your business and should be consistent with the message you want to convey to your target audience. Before diving into brand strategy, you need to take a step back and understand that the name of your company and its products along with its logo and website are not your brand. Your brand tells people who you are and what promises you are making about the products and services you sell. It gives them an insight into your company’s personality. A brand is made up of intangibles.
Brand strategy makes your brand stand out
Your brand strategy determines how best to employ the brands you own to influence what people think and how they feel about your products and about your company. Brand strategy is your plan for shaping consumer perceptions and behavior. Some of the themes it touches upon include:
- Your company’s identity
- Visual systems
- Brand lines
- Product branding
- Naming conventions
A brand strategy should create differentiation between your brand and that of your competitors. Everyone doing business in your marketplace has a message to send to consumers. Your brand strategy should focus on finding ways to make your brand’s message stand out in a marketplace cluttered with messages.
CreatingBrands.com works with you to create an effective brand strategy
Developing a brand strategy must begin by learning about your company. When an organization asks CreatingBrands.com to help it through the process of branding, the first step is completion of a questionnaire asking for information, including:
- The mission and goals of your company
- A profile of your target audience
- A profile of each of your top competitors
- Your expectations for the brands you own
- Descriptions of the products and services offered by your company
- Relevant economic trends that could affect your industry and your marketplace
- Evaluation of how consumers react to your products and to your company
- The reputation of your company in the marketplace
- Analysis of your long-term business plan, including marketing and sales goals
Clients of CreatingBrands.com frequently comment about how much they learned about their companies through the process of gathering the data required to complete the questionnaire. The insights about your company gained from reviewing your answers to the questionnaire enable CreatingBrands.com to help you create a brand strategy that builds on your company’s strengths while identifying weaknesses and developing ways to overcome them.
Your brand is an asset that has a value to your organization. CreatingBrands.com shows you how to use your brand to enhance your company’s market share and maximize the return on your marketing and advertising budgets. Contact us today to speak with a brand strategy expert by calling us at (800) 899-7990.