Oh, no! Brand building does not end with a logo and a tagline. If you heard it so somewhere, turn your deaf ear without any doubt.
Building a brand is no fun game. It’s moreover confusing because most people think they have a better understanding of brand building but they will be nowhere close to.
So, here is a list of killer brand strategies that every marketer should be aware of.
- Competitor analysis
You don’t have to wonder where to start. The best way is to analyse your competitor strategies. Get insights from their brand strategies. That’s where you’ll learn to differentiate your brand from the crowded marketplace.
Here comes the big question. Why have you launched the product? What is the fundamental motive behind your business? Answer the questions and the answers will play a good role in your brand building activities.
- Brand Architecture
Brand architecture is the structure of brands within an organizational entity. It is the way in which the brands within a company’s portfolio are related to and differentiated from, one another. So, how does your brand fit into the larger portfolio? Think!
- Creative Elements
Yes, now start thinking of the typography, colour, imagery, verbal tone etc. that gives a unique identity to your brand. Think of everything you need to put your brand into action.
How do you want your brand to be positioned? Think it this way. Ask yourself how you want your brand to be owned in your consumer’s mind? This will help you in positioning your brand rightly.
Your brand is your promise, says Dana DiTamaso, an expert in the domain. Your brand promise should no way be empty. Your brand promise should connect your purpose, positioning, strategy and customer experience. Think about the value you owe to your consumers.
- Reason to believe
Oh! Come on, why should your target market believe you and put trust in your brand promise? So, give reasons for them to believe the promise you give.
- Market Opportunity data
Unfortunately, there is no substitute for hard work. Put in the effort to study the market thoroughly. Who knows what you may end up exploring a game-changing opportunity for your brand?
- Consumer Insights
As we all know, consumer is the king in this world. You need to listen to your consumers to update your brand as per their expectations. Explore ways to know what’s in your customer’s mind. And think about how you can reach up to their expectations.
- Key Message
Let’s get into the storytelling of your brand. Think of how you can share your brand messages uniquely and attractively to your target group.
Give your brand life as a person. The brand character is similar to the personality of the brand. Think of your brand’s major strengths.
Brand personality is a set of human characteristics that are attributed to a brand name. So, how are you planning to present your brand? Do you want to make it witty? Or a serious approach? Do you want to give it a playful appeal? Or a classy look?
- Road Map of 3 years
Brands doesn’t happen in a day. It is a process that takes years. So, plan your brand building strategy for a period of at least 3 years. And keep track of your timelines and activities.
- Barriers to success
You need to brave enough to carry out the killer brand strategy. You should be able to overcome the obstacles that stay as barriers to success. Also, you should be able to anticipate the possible obstacles that may come on the way.
- Customer Profiles
‘Your customer needs to be vivid in the minds of your marketing team. Customer profile based on real people will help you to bring value and serve their needs.’ claims the infographic from Hanson Dodge Creative.
- Brand Expressions
Where are you going to express your brand? Thankfully, there is no dearth of media platforms in the age we live in. So, you should decide on choosing media platforms that are relevant to your brand.
So, are you getting ready to start your business? Then, you cannot miss the above-mentioned killer brand strategies. It will add value to your product or service for sure.
The benefits of branding do not only end with higher business growth. A recent report from Reuters has put forward the fact 82% of investors believe that brand strength and name recognition are important in guiding them in their investment decisions. Your effort is worth an attempt! Build a great brand!
If you are looking for more insights like these, sign up for the Marketing & Brand Management course by MICA.