Branding is quite important for a business to survive in today’s world. Brand’s require a proper brand strategy to cut through the clutter and position themselves in the market and in the customers minds. All they need is to start with a strong brand profile.
Brand strategy is a long-term plan for the growth of a successful brand with the aim of achieving specific goals. A well-defined and well-executed brand strategy impacts all aspects of a business and is directly connected to needs and emotions of the consumer, and the competitive environments. But what does that really mean?
As you develop a brand strategy, it helps to start making and executing your marketing plan at the beginning. So, to do this you need to begin by setting your business goals. Ask yourself questions like — Why am I creating a new brand? What I have to achieve by launching the new brand? Use those long-term objectives as a basis for all of your strategic branding efforts.
For instance, are you trying to reach a new set of audience? Your brand strategy for achieving that goal needs to be quite different from a business that wants to steal market share from a category leader, and that’s why properly defining your goal is a fundamental starting point for any brand strategy. The first question you have to answer is, “Why am I creating a new brand?”
Avoid the Short-Term Trap
It’s very simple and obvious to get caught up in the short-term activities and tactics that drive business today, but when it comes to building a brand, that’s a big mistake to focus on the short-term activities. Brands aren’t built overnight, so your brand strategy shouldn’t be focused on short-term tactics but rather on long-term goals and sustainable growth of the company over the years.
Admittedly, it’s hard to stay strategic when executives are weighed down by data and demand measurable growth and positive ROI right now. The best brand leaders, however, fight against short-term focus, because they know being short-sighted is a brand killer.
Instead of focusing on short-term tactics, entrepreneurs should become brand architects which enables teams to design a lasting structure “to bridge brand strategy and brand messaging.” Without a strong brand foundation built on a well-defined strategy, brands have little chance for success. However, it’s hard to stick with that brand strategy rather than be tempted by the allure of short-term focus.
Staying Flexible
Of course, the best brands stick with their brand strategies, but those brand strategies leave room for flexibility as the market, consumers behavior, and competition changes. Think of it this way:
Just as your personal goals in life might change over time, so do your brand goals.
Similarly, just as you might modify your plan to achieve your goals in life, so does your brand’s marketing plan changes to achieve the brand’s goal.
Finally, a specific, achievable brand strategy is an essential component of any business, because it affects every area of your business.
Brand Positioning
Often confused term Brand positioning with Brand Strategy is significantly different. Brand Positioning can be defined as an activity of creating a brand offer in such a manner that it occupies a distinctive place and value in the target customer’s mind. The positioning you choose for your brand will be influenced by the competitive stance you want to adopt.
Brand Positioning involves identifying and determining points of similarity and difference to ascertain the right brand identity and to create a proper brand image. Brand Positioning is the key of brand and marketing strategy. A strong brand positioning directs marketing strategy by explaining the brand details, the uniqueness of brand and it’s differentiation with the competitive brands, as well as the reasons for buying and using that specific brand. Positioning is the base for developing and increasing the required knowledge and perceptions of the customers. It is the single feature that sets your service & products apart from your competitors.
There are several positioning errors, such as-
- Under positioning: This is a scenario in which the customer’s have a blurred and unclear idea of the brand.
- Over positioning: This is a scenario in which the customers have too limited awareness of the brand, and the target market becomes too narrow.
- Confused positioning: This is a scenario in which the customers have a confused opinion of the brand.
- Double Positioning: This is a scenario in which customers do not accept the claims of a brand.
How does Digitoly Branding Consulting help you in building your Brand Strategy and & Positioning?
Based on our initial in-person interaction with brand’s promoter, we build a roadmap towards your ideal brand—a clear purpose beyond making a profit, a distinct position and practical ways your operations can support that position. This allows us to create the right value proposition for your target audience, expressed in your unique voice and tone. Captured in a one-page document, these key components drive every brand decision going forward.
