A Brand is the most important asset of your firm, it is the one that communicates with your target audience, potential consumers and provides them with the value, that the consumers want to, help you build up your brand.
Do remember the dynamics of marketing have vastly changed, Covid-19 caused a huge boom in digitalization and now strategies are more focused on the digital aspect, 2022 has seen everything come online, and branding will have some serious challenges in 2023 as still, many Brands are having a difficulty adapting to the new Online age.
You need to have a strong Brand Strategy to grow your brand, it should be rock solid this includes what to do to make the Brand a success? How to Build a Brand Identity? How to stand out in the Market? Etc.
A lot of Strategies have indeed failed and no one can guarantee success but there is a road map of steps that is used by a lot of successful brands to create their strategy.
If you follow the steps and master them you will have a strong Brand Strategy and hopefully a known Brand too.
1. Build your Internal Brand
Whenever constructing a house or a building, the most essential part is the base, to have solid foundations. A brand should have a solid base, so it could stand its ground in harsh conditions.
Do not compromise on these four elements as these grounds to your Brand.
- Brand Values
These elements must be clear as everybody in the organization needs to understand and own these fundamentals, these should be originated by the brand leaders and they should completely believe in these, as it is the foundation of your Brand.
2. Target Audience & Competitive Advantage
Who are your potential consumers? You have to choose the segment from different aspects like demographics and psychographics and then go after them. Researches have shown the brands that have a clearly defined target market are the ones with high profit and high growth.
Carefully select your Target market, after selecting your audience, you will notice that there are other players in the market offering the same or a similar kind of product or service, these players are your direct or indirect competitors.
The goal is to stand out and offer a unique value to the consumer which is not done by any competitor, this gives you a competitive advantage to your Brand which is essential.
3. Brand Personality & Positioning
Is the Brand fun? Serious? Classy? This is where you give human characteristics to the Brand and then position it in the market, to stand out. Nike has an energetic and aggressive personality, as it is all about excelling in athletics or any sport, and see this is what differentiates the brand from its competitors like Adidas, Reebok, etc.
How differently can you give value to your potential consumers? Your brand should give a different benefit or value to the consumers to stand out, this is a key to position your brand to stand out and associate human character traits to the Brand which are common in your target audience, and this helps a lot in growing the Brand.
4. Create Your Messaging Strategy
Your Messaging Strategy means how your target audience will perceive your brand without the right messaging the Positioning will fail, if you as a Brand considered yourself something else but the consumers have a different perception.
Your messaging strategy should state all of the additional values that a potential consumer, employee, shareholder, or anyone linked to the brand needs. This is an imperative step in making your brand relevant to your target market.
Make sure you communicate and let your target market perceive your brand as positioned.
5. Brand Name, Logo and Tagline
You might be wondering why this is Step no. 5, they play a vital part in your target market remembering your brand and recalling, which is exactly why the tagline, brand name, and logo are developed later.
At this phase, you should clearly understand what your audience wants, what makes you stand out, what is the value you provide, the brand identity and the brand personality, and lastly the message you want to deliver.
Consider every aspect of your target audience and your brand positioning when finalizing the logo, brand name, and tagline.
6. The Content Marketing Strategy
Before 2022, this step was not very important in the traditional marketing days, the internet age brought content to light but since last year Content marketing is of extreme importance, 2022 was filled with content on the internet as everybody and everything came online, 2023 will have more of it!
Content Marketing is how you communicate with your potential consumers on the internet, there are a lot of tools to do that like blogs, informative articles, about us, brand stories, etc.
Content marketing helps you grow a reputation as well as visibility. In today’s world it is the perfect way to make your brand relevant to your target market.
7. Make Your Brand Awareness Strategy
Let people know there is a new player in the market, you need to make your target audience aware of your brand, do not forget traditional marketing techniques are fading away, this is the digitalization phase and you have to be right in front of your target audience to show them your brand.
You should know which social media platforms do your target market use? Where and how you should reach them? Questions like these need to be answered critically in your Brand Awareness Strategy.
8. Make Your Website
Website is much more important than a lot of people realize, it is where you create your brand identity, brand story, brand personality, brand image and most importantly the brand communicates with your target audience on your website.
Your website is the overall view of your Brand, it should resonate with your brand as a whole. This is where all your content is, and do remember in today’s world online content is of utmost importance to any modern brand development strategy.
9. Implement, Analyse and Adjust
However, this is the last step but is of great importance, make sure that the brand strategy is implemented the correct way, mostly the attention shifts towards business development and firms tend to forget to work on the brand strategy and that’s when the brands’ downfall starts.
There are a lot of tools available like Google Analytics, Google Ads, etc. which help you analyse how your brand is performing online, which is extremely important in today’s world, Evaluate your strategy and make adjustments according to it to grow your Brand.
These steps are of great essence to building a Brand Strategy where digital marketing is rapidly taking over the traditional marketing and branding strategies.