Why is a Brand Strategy so important for your business?
February 14, 2023
Your brand strategy is the foundation of how you build, shape, and share your brand. It’s your business DNA. Whether you’re a fresh startup or an existing business, your brand strategy is the strongest way to ensure you’re set up for growth and success.
So what is a brand strategy? It is a holistic view of how you envision your business looking, feeling, sounding, and connecting with the audience you want to attract. Your brand is who you are; it’s the clothes you wear, the way you speak, and the footprint you leave. It’s your standard, it’s your integrity. A brand strategy includes the development of several different elements such as tone of voice (the way your brand sounds), brand identity (the way your brand looks – fonts, colours, logo etc), brand values (what’s important to your business), brand positioning (what differentiates your business from others), and the overall vibe you want to portray.
There are seven pivotal contributors to the successful structure of a brand strategy:
Messaging:
Customers develop positive emotions and thoughts associated with a specific company when there is clear messaging, therefore generating purchasing decisions. As a result, brand equity increases.
Brand Identity:
Brand identity is about standing out, being recognisable and connecting with your audience. Many customers rely on visual associations when they think of a brand. This includes a logo, colours, icons, patterns, and font. A strong visual identity helps create an emotional connection with the customers your business wants to acquire and/or retain.
Brand Positioning:
Brand positioning leaves a long-lasting impression on your customers while enabling your business to differentiate itself from its competitors and stand out in the market. The positioning of your brand communicates value, increases brand awareness, justifies pricing and categorises your brand as the solution to a customer’s problem, need, or want – something they can relate to and benefit from. Remember, first impressions are lasting impressions!
Target Audience:
Who will connect and engage with your products and/or services? Where are they located? How old are they? What inspires them? Developing a connection between your brand and consumers is critical when developing a brand strategy as it plays an important role when creating brand identity, tone of voice and messaging. When brands consistently market to a niche target audience, it creates brand loyalty and increases sales.
Unique Selling Proposition:
What sets your business apart from the crowd? A unique selling proposition (USP) is a statement that communicates why your products or services, and your brand are different (and better) from your competitors. It’s something that needs to be communicated clearly and quickly to your target audience.
Value Proposition:
Why choose your products or services? A value proposition is a statement that communicates why customers should choose your brand for particular products or services. It’s the solution your business provides and the value that customers can expect from your brand.
Brand Strategy in a nutshell:
Creating a brand strategy is an investment that will benefit your business long term. It will help your business resonate with your audience, generate customer loyalty, increase sales and leads, establish a brand reputation, and connect with the audience that aligns with your business. Your business is the body, your brand is your soul.
Branding gives businesses an identity beyond the products or services sold. It’s the magic that makes a business memorable.
If you’re looking for assistance in building your brand strategy, contact the team at B Brand Marketing today!
