What is a brand strategy...

February 20, 2018

Branding has many moving parts.  Brand promise, brand story, brand personality, etc.  So building a brand strategy should include ensuring you understand your why.  Knowing your why will help with building a brand strategy that starts with brand awareness and ends with brand equity.

 

By definition, brand strategy is a long-term plan for the development of a successful brand in order to achieve specific goals. A well-defined and executed brand strategy affects all aspects of a business and is directly connected to consumer needs, emotions, and competitive environments. 

 

As you develop a brand strategy, it helps to start at the beginning. In other words, begin by setting your business goals. Why are you creating a new brand? What do you hope to achieve by launching the new brand? Use those long-term objectives as a basis for all of your strategic branding efforts.

 

For example, are you trying to reach a new audience? Your brand strategy for achieving that goal is likely to be quite different from a business that wants to steal market share from a category leader, and that’s why goal definition is a fundamental starting point for any brand strategy. The first question you have to answer is, “Why?”

 

Staying Flexible

Of course, the best brands stick with their strategies, but those strategies leave room for flexibility as the market, consumers, and competitors change. Think of it this way:

  1. Just as your goals in life might change over time, so might your brand goals.

  2. Similarly, just as you might modify your plan to achieve your goals in life, so too might your brand marketing plan change.

  3. Finally, just as you seize opportunities to move closer to your goals as they arise throughout your life, you’ll also seize short-term opportunities to grow your brand and move closer to achieving your long-term brand goals as those opportunities are presented to you.

The goal is to proceed with three phases: Phase One- First ensure to develop your brand logo, and make sure that your brand message is consistent.  Phase two-Should include building the brand buzz-digital marketing platform, brand awareness, brand promise, brand story and brand personality.  Phase three-This is were all things come together to build Brand Authority + Brand Loyalty=Brand Equity 

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