Do you think that the importance of a branding strategy for a business is overrated? Have you ever wondered why gurus in the industry guarantee success with a well-planned and executed branding strategy and predict dire consequences and even failure for businesses with no planned route for its brand?
The reason is that they know that a business is more than just selling products and services to customers. It’s about understanding your target market and making them understand what you want to offer them and why it is unique and different from other similar offerings in the industry.
The essence of a successful business is how it markets itself, and for that, a strong brand strategy is necessary to represent the company in the market.
If you want your business to stick out from all the rest, you must design a stellar brand strategy which will have your target market crowding in to view your services and help you establish a strong brand identity in the industry. Once your brand has established a unique identity, your business has taken the first steps on the path to success.
Components of a Strong Branding Strategy
A strong branding strategy is key to positioning your business brand as unique and customer focused. Here are some essentials that can help you ensure a strong branding strategy for your business. Here are some very important thing you should consider when developing a branding strategy:
Every Brand Has a Purpose and Makes a Promise
The defining purpose of your brand is what makes it unique from the competition. Your brand should have a specific purpose telling costumers why you do what you do. Your brand purpose should have a functional and intentional purpose, which is not just to make money. This is obvious, everyone wants to make money; however, there needs to be a touch of humanity in your strategy, this allows for customers to trust you and also shows them that your brand is about more than just money. The truly successful brands do this to achieve more with their offerings. They do this by appealing to their target audience and creates a connection, allowing for a sort of trust and brand loyalty to develop. Take IKEA for example. IKEA sells furniture, and there are other stores that sell furniture as but yet customers go to IKEA. This is it because IKEA did not simply say “Hey, buy our furniture!” But rather, Ikea developed a purpose, which entices customers. Their purpose is “creating a better everyday life. “ This is great because it paints IKEA in a caring light, that it cares about its customers. Coming up with a nice sounding slogan is just part of the battle, the other part is executing it because over time customers will see through the façade.
The Brand Strategy Should Have Consistency but be Flexible
Only ideas that relate to your brand and its purpose should be linked to it. There is no room for confusion or clutter. If you want brand recognition, then consistency in your branding strategy is the key. Your branding strategy, however, should have room for flexibility while remaining consistent. While consistency in a brand strategy ensures setting a standard for the brand, a flexible approach to brand strategy design helps you make adjustments which can help your approach stand out from the competition. Consistency and flexibility go hand in hand with a strong branding strategy.
An important thing to remember is that you don’t live in a vacuum. Rather, your brand strategy should be designed and modified on the basis of market awareness. Since you need to attract customers away from your competition, take a challenge to improve your strategy and offer greater value through your brand. Remember you can always look to the experiences of your competitors to identify successful and unsuccessful tactics and tendencies.
Elements That Make a Stellar Brand Identity
A great and enticing brand identity can be cultivated and designed with the following elements:
A unique logo or symbol, these are your means to establishing a recognizable brand identity in the industry. A great example is the NIKE Swoosh, it has become one of the most iconic logos ever, whenever someone sees it, they automatically recognize that it’s NIKE. The logo is important because it essentially is the face of your brand and allows customers to associate with your unique brand personality.
Key colors used in a logo define the corporate personality of a brand. Every color taps into an emotion, which is why the colors of your logo are vital to the identity of your brand. The psychology of color in logo design is critical to establishing a killer brand identity. With the right brand strategy, this goal can be met.
All imagery related to the brand should have consistency so that the brand identity is not confused and has a consistent impact on the target market. Of course, you can change and be flexible as needed, but you should aim to keep a consistency to your ads and images so that customers can easily recognize that it’s your brand.
If you need help in digital strategy design or brand strategy in particular, professional help can make or break your brand. Here at Results Driven Marketing we offer expert consulting and strategy design services for businesses in a variety of industries. Do not hesitate to contact us or call at 215-393-8700, and remember that with a strong branding strategy, you can take the market by storm.