A frequently asked question on Google is what is brand strategy?
By definition, it is a perdurable or long lasting goal and modus operandi of a business to create an identity, and specific portrayal of a brand.
A well thought out and well planned brand strategy
leads to consistent messages delivered to the patrons and potential customers and creates an emotional bond. These factors also lead to brand equity.
Importance of Brand Development Strategy
It is all about perception and how your represent your business. Look around you, are you drawn to people who have fashioned a certain image about themselves, they present themselves in a certain manner? This is how it works for branding too.
• Once you have established an image and perception of your brand in your customer’s mind. It would be easier to strategies and formalise your future marketing endeavours. This will both save money and time for you.
• Brand strategy
provides limpidity when it comes to customers’ expectations, marketing plan,
market position and competitive landscape.
• For brand strategy
to work you need planning. Planning then leads you to understand your patrons, their concerns, wants, needs and expectations. After careful planning, substantial brand strategy is in place, you cater to patrons needs and demands. Customers perceive you to be trustworthy.
• It is also an economical way of addressing to the concerns of patrons.
• A powerful brand strategy
creates a strong brand identity
and that actualizes not only loyalty among existing customers but also brings new customers, this then leads to soaring profit margins. It has been proven over the years that more the client loyalty the less you have to spend to reach out to them.
• It helps the existing and potential customers to differentiate between you and your competitors.
• When your vision is clear regarding your brand, it also helps your employees to focus. Hence everyone works for the same goal.
How to Develop Brand strategy?
Before diving straight into building a brand strategy, you have to consider some points, which we will be mentioning below.
• What is your overall and general business strategy? Is your business strategy in sync with your brand development strategy? How do you want your company/business to grow? Are you going to have brand extension? Be clear on all of these things before starting.
• Who are your potential customers? No, not everybody. You have to be very specific of who your target clients would be. You have to do systematic and frequent research and find out who are your target clients.
• What is your market positioning
? How do you distinguish your brand/business from others? What is the brand message
for your target audience
? Set your brand position and brand message for your target clients.
• Then comes that obvious step of branding
or brand and identity strategy
select a name, tagline and colour and design of logo for your brand.
• Develop a marketing strategy. What is going to be your digital branding strategy
? A content marketing strategy is the best way to go forward.
• Last but not at all the least. Develop your website and have a strong social media presence.
Now another frequently asked question that demands an answer is tell us about a brand development strategy
with example, well the best answer for this would be coca cola, popularly known as coke. It all started from southern part of United States of America and is now a famous and successful international brand. It has the same logo, style and font of writing and colour since 1886.
To eliminate competition, where other soda companies started serving the same formula in glasses, coke started to bottle up their products. In the beginning, there was no consistency in the shape and size of the bottles. This was the cause of concern for the brand integrity. So in 1916, they developed their own specially designed bottles.
Apple inc is another extremely successful brand with a powerful brand development strategy. It is a newer brand as compared to coke. Since its conception Apple inc. focused on the needs and demands of the customers. It never gave in to the pressure of being the same as everyone else.
Best branding agency in Pakistan
We at 92 branders
provide best brand development strategies in Lahore and Pakistan
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and digital marketing