You might not realise it but big name brands such as Levi’s, Amazon, Nike and AirBnB all have one thing in common.
It’s a well defined brand strategy and an unwavering commitment to bringing their brands to life based on their ‘who’ (they are) and ‘why’ (they exist). They also have a clear understanding of who their customers are and know exactly how to excite them.
While not all of us have budgets as big as these brands, it still pays to develop a brand strategy in order to steer your business in the right direction.
What is a brand strategy?
In essence, brand strategy is the big picture plan and tactics you develop to create a connection with your customers. It’s the goals you develop to help you stay focussed on the why of your business and what sets you apart from your competitors.
Think of it as a road map for your brand and the direction you want it to grow and evolve. It includes important things such as your vision, mission, values and brand promise and works to influence how customers perceive your brand.
Having a robust brand strategy in place helps guide your business in every possible way including your logo and visual identity, how you communicate with your customers, the marketing strategy you adopt and the staff you employ.
Why is it important?
Simply put, brand strategy is the essence of what your business stands for. It’s the entire experience your customers have with your brand from the words they read to the visuals they identify with your business.
The importance of developing a brand strategy is that it enables you to define your why and what your purpose is. This in turn, sets you apart from your competitors and allows you to develop consistent messaging which builds brand loyalty and trust amongst your customers.
“Your brand is what people say about you when you’re not in the room.”Founder of Amazon, Jeoff Bezos
A brand strategy not only provides consistency for customers, it also gives employees a clear definition of your company’s values and brand personality which promotes a positive and more cohesive work culture/environment.
By defining your brand strategy first, you lay the groundwork for your business and establish exactly what your business stands for and where you want it to go.
Interested in implementing a brand strategy for your business?