As we know it, brand is not merely logo and tagline. It is the entire impressions your consumers and markets experience when they heard about your company, product or services.
Branding strategy is a long term plan to achieve specific value and goals require in brand building. A well executed branding strategy increases brand image, brand value and brand equity.
How would you achieve that?
Here are 9 components you should have to create a killer branding strategy.
Do your research and evaluate your key competitors. Analyze their products, services and marketing strategies to understand how you can outperform them. If the market is already crowded, you need to differentiate in order to stand out in the market.
It is the structure of the brands in your company. Brand architecture reflects how your brand fit into the overall portfolios. You could have a corporate brand and some sub-brands. Brand Architecture shows how they relate to each other and reinforce the core purpose of the business.
Includes all creative elements shaping the brand visual, such as logo, colour palette, illustration and typography. Consistency in visual elements will strengthen your branding image.
What is the fundamental position of your brand? Which consumer demography are your business targeting?
Why should your target market believe in your product? How do you create trust in the consumer mindset?
We are living in digital age where revolutionary innovations are created in a fast pace. How will your brand adapt in the ever-changing market? How will you grab the opportunity?
What does the consumer need? What do they want? And how will you fulfill their desire?
What will you communicate with them? What is your brand story? How will your story affect consumer’s mindset?
What makes your product stand out from the others? Is it using high quality or low quality materials? Is it expensive, average or affordable?
A great brand strategy helps you communicate and build unique experience for your market. So, plan and do it right. Your business success depends strongly on the successful implementation of your brand strategy.
Wahidin Wong is a digital marketer. He is also a jazz and bossa lover.