How to Develop Your Brand Strategy
A Step by Step Guide
Developing a brand strategy can be one of the most difficult steps in the marketing plan process. It's often the element that causes most businesses the biggest challenge, but it's a vital step in creating the company identity.
Your brand strategy will identify the following three core components of your business and can then be used as a blueprint when it comes to developing your marketing strategy and tactics.
- Purpose - Your business must have a functional and intentional purpose.
- Consistency - Without consistency, a business will struggle to survive.
- Emotional Impact - Emotion is what helps customers connect with you a brand strategy helps you develop the emotion that you are going after.
Your brand identity will be repeatedly communicated, in multiple ways with frequency and consistency throughout the life of your business.
To begin the development of your brand's strategy you must have an understanding of these four marketing components:
Primary Target Customer and/or Client
Product and Service Mix
Unique Selling Proposition
By identifying these components of your marketing plan you have created the basis for crafting your brand strategy. An effective branding process will create a unique identity that differentiates you from the competition. That is why it's often deemed as the heart of a competitive strategy.
Creating your brand strategy can be done easily by following the step by step guide below.
What is Branding?
A strong brand is invaluable as the battle for customers intensifies day by day. It's important to spend time investing in researching, defining, and building your brand. After all, your brand is the source of a promise to your consumer. It's a foundational piece in your marketing communication and one you do not want to be without. In this first week's lesson, we will discuss and lay the foundational concept of branding, what it is and what it is not.
How To Define Your Brand
It is the first step in the process of developing your brand strategy. By defining who your brand is you create the foundation for all other components to build on. Your brand definition will serve as your measuring stick in evaluating any and all marketing materials and strategies.
Determining Your Brand's Objectives
Critical to effective brand management is the clear definition of the brand's audience and the objectives that the brand needs to achieve. How do you go about defining those objectives and putting a plan into place that will help you succeed in meeting them?
Focusing on Your Target Audience
The power of your brand relies on the ability to focus. That is why defining your target market will help to strengthen your brand's effectiveness. Learn how to define your target market in this week's lesson of the Developing Your Brand's Strategy course.
Discovering and Crushing Your Brand Barriers
When creating your brand strategy for a product or service it is important to perform a careful analysis to determine principal barriers that you may come in contact with. These barriers are also known as market conditions that can keep your product or service from achieving success. In this lesson, you will learn where you can do the research to find your specific brand barriers.
Brand Packaging and Identity
Branding is your identity in the marketplace, is yours saying what it should? Your company image is all about the appearance of your packaging. What is your company image saying to the marketplace?
Top 5 Books on Branding
Need more information on branding? I have found books can serve as a great resource when working on branding. Use these books as a resource to help you in understanding your brand and identifying how you can develop and work to make your brand stronger.