Branding is not just about your name, logo or slogan; it’s about the whole service, product or company experience that you provide your prospective clienteles and customers with.
Good branding is determined by your brand strategy. Brand strategy is defined by what your company is all about and the personality you convey; influenced by the elements, words, and creativity that surround it.
Even tough brand strategy includes your logo, tagline and colours used, these do not play a huge role in branding and are just merely creative components that communicate your brand.
So..what is a brand strategy?
Brand strategy is a series of long-standing plans created for the development of a successful brand in order to achieve specific goals. A well-defined and executed brand strategy influences all aspects of a business and is able to connect to customers needs and emotions.
Steps To Develop A Strong Company Brand
1. Define your business strategy
A well differentiated brand will assist in the growth of your company. Determine the type of company you want to be, purpose of the company and your overall business strategy. Be clear of the direction you want to take your company for a well-planned brand strategy will help you achieve your overall business goal.
2. Identify Your Target Market
Identify who your targeted clients are by studying specific demographics, psychographics, geographics and behaviours.
Demographics: Age, Gender, Income level, Education level, Occupation
Psychographics: lifestyle, social class, personality, values
Behaviours: Loyalty, awareness, usage, liking, occasions, knowledge, purchase patterns
Studies show that the narrower the targeted market is, the faster the profit and growth. The more diverse the audience is, the more diluted marketing efforts will be.
3. Research On Your Target Group & Market Conditions
When creating a brand strategy, it is essential to carry out a detailed analysis of your target client’s priorities and perspectives. Anticipate your target’s needs and relay your message in the way that relates and resonates with them.
It is proven that companies who perform in-depth research on their target client nurture faster and are more profitable.
4. Determine Your Brand’s Positioning
To determine your brand’s positioning, mention how your brand different from others and the reason why potential clients within your target group should choose you.
A positioning statement captures the essence of your brand and is approximately 3 to 5 sentences in length. It has to be realistic and yet aspirational; it has to be something to strive for, yet achievable as it is a promise that you will have to deliver.
5. Determine Your Message Strategy
There are 6 message strategies that are commonly used: unique selling proposition, emotional, positioning, generic, brand image or pre-emptive.
Knowledge of these message strategies will assist in translating your brand to your various target audiences.
6. Content Marketing Strategy
The main goal for content strategy is to meet the target group’s expectations and meet specific business goals.
In content marketing, there are multiple key components that play a part.
These components are the tone, topics, style, structure of how content is built.
To match these multiple marketing components, you will have to know the 5 W’s and H of content marketing strategy:
Who is your target audience?
Why you working on this project?
What message do you want to relay? What are your goals and objectives?
Where will the message be placed? Which platform?
How should the content be structured and presented?
When to publish the content?
Implement, TRACK & ADJUST
Create a solid brand strategy, track and adjust accordingly.
Tracking your plan and results is recommended as only through tracking can you then ensure that you are making the right conclusions and appropriate adjustments.
Tracking will help you determine how well your target audience can associate to your brand by the number of leads and conversion that was generated from your initial plan. It also helps you to determine on ways to improve the number of leads through retargeting of different audience or reworking on branding strategy.
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