An effective brand strategy entails more than just selecting the color of blue to use for the logo or the tone to employ while posting and commenting on Facebook.
A brand strategy takes into account aspects such as customer demand, emotions, and competition. It’s maybe even more significant than the name of your organization.
If you delete your company’s emblem and name, the brand strategy may appear to be non-existent. However, for the most successful brands, it infects all elements of the company’s operations, from high-level decision-making to product shipment and handling.
If you’re still perplexed about what exactly constitutes a brand, you’re not alone. As a result, we’ve divided the science of brand planning into seven important components. If you take care of each component, your brand will last a long time.
While a name and a logo are vital, they pale in contrast to the goal of your brand. This is what motivates you and your staff to get out of bed in the morning. It is what fuels you throughout the day. Your mission is the one thing that distinguishes you from your competition. There are two types of brand goals:
Functional: This focuses on success at the financial or commercial level. That is, to sell products, make money or provide value to your stakeholders
Intentional: This has more to do with how your brand works and the why. In other words, its big ambitions and the larger role it plays Microsoft, for example, defines its mission as “to empower every person and organization on the planet to achieve more”. Notice that it wants to play a role in every person’s success, whether that person is an investment banker on Wall Street or a community organizer in Soweto. Microsoft’s picture choice is also telling. It depicts a tent pitched against the night sky, with the Milky Way looming in the distance. The graphic is meant to convey the company’s desire to expand its influence to the furthest reaches of the globe, including outer space. The tech behemoth is working on creating solutions that are accessible to everyone, such as its cloud-based storage as well as application platforms.
When defining your brand’s mission, keep in mind that it should not be just about producing money, unless you are an investment business, in which case it most likely should be. Even so, there needs to be something more to characterize it. The thing that sets you apart from the competitors. It is imperative to keep your business’ purpose front of mind at all times, as it is what informs everything that the business does and every decision you make.
Your brand’s mission should be something that your customers can relate to. To put it another way, it should appeal to their emotions. Customers do not always make purchase decisions solely on what is less expensive or offer greater value. Whatever your firm sells or makes, chances are there are identical items available from other companies with more features or at a lesser cost.
Of course, giving value to your clients is essential, and you should aim to provide more of it to them. When you provide your clients more for their money, they will become loyal to your brand. Long-term clients, on the other hand, can build an emotional attachment to your brand for other reasons. This might be a positive post-sales experience, the aesthetic value of your product, or the feeling of belonging to a community.
- Loyalty of Customers
If you’ve succeeded in cultivating a consumer base that adores your brand, your products, and what you stand for, you must nurture and repay that love. This is when consumer loyalty enters the picture.
Customer loyalty is more valuable to your business than all of your endorsement deals combined. People who buy your products on a regular basis and tell their friends about their positive experiences with you serve as brand ambassadors.
Recognizing loyal customers will help maintain their loyalty and keep them coming back for more. It doesn’t take much to recognize loyal customers. Something as simple as a personalized thank-you note can already mean a lot. You may also feature their business on your website (this is particularly applicable to B2Bs). If you want to be a little extra, you can offer them a membership to an exclusive club that provides rewards. Membership in loyalty programs grew by more than 1000% from 2014 to 2016, and 63% of customers will not commit to a brand that doesn’t have a loyalty program.
4. Employee Involvement
It’s critical that your employees feel like they’re a part of your brand, rather than merely cogs in a machine. They are more inclined to act in accordance with branding if you include people in establishing what your brand stands for, both online and offline. Your staff should not only promote your brand but also live up to its values. This might include values such as exceptional customer service, diversity, and a dedication to constant progress. What you put out there should also be reflected in your staff. It doesn’t make sense if your social media profiles are lighthearted but your customer service professionals aren’t!
Engaging your staff is an important part of developing your brand. It is a clear indication that your organization is working hard to meet the ambitious goals it has set for itself. It also recruits and keeps the greatest talent available. As a result, you’ll be able to earn more sales, create better items, and expand your business.
While consistency is essential for developing a strong brand strategy, a little flexibility never hurts. This is especially true when trying to break into new markets. While consistency establishes the baseline for your brand, flexibility allows you to adapt to market needs and differentiate your firm from its rivals.
A strong brand identity is both recognizable and adaptive. As customer tastes shift, your brand must evolve as well. Otherwise, it is at risk of becoming obsolete. Mattel is an excellent example of a company that is unwilling to be flexible with its brand. In 2000, the toymaker, best known for its Barbie fashion dolls, sued MCA Records and the band Aqua for copyright infringement when the latter published a song called “Barbie Girl.” A U.S. court rejected the complaint in 2002, with the judge famously saying, “The parties are encouraged to cool.”
Of course, the brand subsequently realized that the lawsuit was a bad idea. It used a modified version of “Barbie Girl” in an advertising campaign to sell a new line of dolls in 2009. Both sides appear to have chosen to “relax” and put their disagreements aside.
here is the link: Barbie girl