Let’s say you’ve come to the difficult realization that quite frankly your brand — if you are able even call it that — is all over the place. Or perhaps worse, you have a defined brand, but you’re noticing that it simply doesn’t seem to mesh with who you really are and what you really do.
Before you get all hung up on what shade of green be utilized for your logo or what tone you’re going to use when engaging with people on Twitter, you need to step back and take a look at the big picture.
What is Brand Strategy?
Brand strategy is a plan that encompasses specific, long-term goals that can be achieved with the evolution of a successful brand — the combined components of your company’s character that make it identifiable.
( We’ll get into that more in a little bit .)
A well-defined and executed brand strategy affects all aspects of a business and is directly connected to consumer requires, emotions, and competitive environments.
First, let’s clear up the biggest delusion about brand strategy: Your brand is not your product, your logo, your website, or your name.
In fact, your brand is much more than that — it’s the stuff that feels intangible. But it’s that hard-to-pin-down feeling that separates powerhouse and mediocre brands from each other.
So to help you rein in what many marketers consider more of an art and less of a science, we’ve broken down seven essential components of a comprehensive brand strategy that will help keep your company around for ages.
7 Components for a Comprehensive Branding Strategy
“Every brand makes a promise. But in a marketplace in which consumer confidence is low and budgetary vigilance is high, itas not just making a promise that separates one brand from another, but having a defining purpose, ” explains Allen Adamson, chairman of the North America region of brand consulting and design firm Landor Associates.
While understanding what your business promises is necessary when defining your brand positioning, knowing why you wake up every day and go to work carries more weight. In other terms, your purpose is more specific, in that it serves as a differentiator between you and your competitors.
How can you define your business’ intent? According to Business Strategy Insider, purpose can be viewed in two ways 😛 TAGEND Functional: This notion focuses on the evaluations of success to its implementation of immediate and commercial reasons — i.e. the purpose of the business is to make money. This conception focuses on the assessments of success to its implementation of immediate and commercial reasons — i.e. the purpose of the business is to make money. Intentional: This theory focuses on success as it relates to the ability to make money and do good in the world.