A brand strategy is a company’s plan for how it will shape the perceptions of their brand. It is designed to build a strong emotional connection with customers, a consistent branding message, and increased brand equity. Each of these are vital to a company’s success. Here are the top ways to create an effective brand strategy.
Tip #1: Identify Your Marketing and Business Goals
Setting marketing and business goals are keys to an effective brand strategy. By know what goals you want to achieve it helps you bring consisteny across all your branding and marketing mediums.
Business goals. Ask yourself the following questions:
- Where do you see your business in 5-10 years?
- How big will your company be?
- How much revenue will it generate annually?
Once these questions are answered, break them down into the weekly or monthly steps needed to make them a reality. The more realistic the goals, the increased probability of accomplishing them.
Breaking down your goals can increase the probability of success. One way to do this is by creating a SWOT analysis:
|What does your company do well?|
How talented or knowledgeable is your staff?
What separates you from the competition?
What tangible assets do you have?
|What key things does your company lack? |
What are your limitations as far as resources?
What do your competitors do better than you?
|Who is your target market? |
Is there a need for your products or services in the area?
Is there little competition in your area?
Are there opportunities for press/media coverage?
|Are existing laws or regulations changing? |
Have customer attitudes toward your company changed?
Are you receiving negative press or media coverage?
Performing a SWOT analysis can help you stay focused and increase your chances of achieve your business goals.
Marketing goals. In addition to a SWOT analysis, setting marketing goals is essential to the success of your business also. A general rule of thumb is to set short-term weekly or monthly marketing goals to help you achieve your longer-term marketing goals.
Marketing goals should be SMART:
|Define what needs to be accomplished|
Keep everything concise and well-defined
Identify the who, what, where, and why
|Determine the best way to measure your progress|
Identify key indicators that indicate goals have been met (sales, views, etc.)
|Create realistic goals that are attainable in the time allotted|
Ensure you have the skills, tools, or resources to achieve the desired goals
|Goals should benefit the company and its success|
Goals that do not impact the success of the business are to be avoided
|Timelines must be defined|
Goals must be completed by a deadline
Daily, weekly, and monthly goals are encouraged
Tip #2: Find Your Niche
Focusing on a niche means offering specialized services for specific audiences. This will prevent you from spreading yourself too thin both financially and work-wise. Analyzing the following areas will help you find your niche:
- Minimal competition
- Strong market demand
- High profit potential
- Solves a practical need
- Business that is personally and professionally satisfying
Tip #3: Highlight What Makes You Different
There is a lot of competition between businesses to get your customer’s attention. Focusing on what makes you different from your competitors is key to growing your brand. Here are the top ways to stand out from the crowd:
- Have a clear description how your business will solve a common problem
- Describe in detail how you’d solve an uncommon problem
- Create a mission statement that is personal to you
- Focus on characteristics of your target audience that are unique or uncommon
- Highlight unique customer experiences created for your customers
Tip #4: Make Your Customer Experience the Best Experience
People never forget how you made them feel. This is especially true with your customers. A satisfied customer can provide the best marketing and advertising for your business: they will be happy to tell people how great you were and encourage others to patronize your business. Satisfied customers who write reviews is another great way for your business to stand out from the crowd.
On the flipside, customers will also advise people to avoid your business if your service or quality is subpar. Thanks to social media, bad news can travel fast. Very fast. Remain professional at all times and treat each customer with respect and provide top quality service.
Putting It All Together
Creating a brand strategy is essential for the success of your business. By taking the time to identify what your brand is taking the necessary steps to cultivate it, you’ll be one step closer to achieving your business goals.
More About Soto Group Brand Agency
We are an Australian branding, marketing, and web development agency. We service clients all over the globe and help them navigate the often tricky brand strategy and website design landscape. Our ethos is to build relationships based on trust that leads to design projects and outcomes that are goal-specific and help our clients’ businesses grow and thrive. Hundreds of businesses trust us to build then brands and websites that can stand the test of time, and lead to more conversions, more sales and more work life balance.
If you are looking for advice from an expert Brand Agency on getting the right brand advice for you or finding out more about our services and how we help businesses excel, reach out to our friendly team for a no-obligation chat.