What Is Included In A Brand Strategy
What is included in a brand strategy anyways? A brand strategy is a long-term plan for the development and promotion of a brand in order to achieve specific goals. A well-defined and executed strategy affects all aspects of a business and is directly related to consumer needs, emotions, and competitive environments.
Your strategy can include a plan for how the brand will be promoted and marketed. That would go into the Brand Management category.
Here is a short list we will go into.
- Brand Research
- Brand Identity
- Brand Architecture
- Brand Positioning
- Brand Management
- Brand Extension
Furthermore, you’ll want to do a deep dive into your market, your competitors and clients you have previously served. Identify your STAR clients, and why your company benefits from this specific type of person. Then, look a little more and consider interviewing them about your product or service offering.
We work with existing businesses, it’s important to analyze historical customer data so you can notice key patterning, and make data-driven assumptions. This is a very intelligent step to take when researching.
After you do your research phase, this will drive your brand identity. Your brand identity will for the most part be your visual palette. For example, your naming, your colors, your font palettes, your languaging and your imagery.
By understanding your audience through research, your design team, your promotions teams, and overall employee training will be influenced on how to interact with your clients and customers.
I’ve referred to this in other articles, when you visit a brand you can really FEEL that they’ve put in the BrandHours. You can feel the care behind the brand, and this care adds lubrication for future repeat sales and increasing LTV(Lifetime Value).
Everyone wants to interact and transact with a brand that actually cares about them. A little care goes a long way.
Brand architecture is the organizational structure of a company’s brand portfolio. This defines the relationships between different brands within the company and how they are positioned in the market. Brand architecture can take on different forms, depending on the size and structure of the company.
There are three common types of brand architecture:
1. Monolithic: All brands within the organization share the same identity. (Branded House)
2. Endorsed: The organization’s primary brand endorses or supports the other brands. (Hybrid)
3. Separate: The brands within the organization are distinct and independent from each other. (House of Brands)
This is the process by which a brand creates a unique and differentiating position in the market relative to competing brands. Brand positioning is based on creating and influencing customer perceptions around the brand’s key attributes and benefits that are relevant and appealing to target consumers.
This is the process of creating and maintaining a strong, recognizable brand. This involves developing a clear brand identity, managing the brand’s reputation, and ensuring that the brand is consistently presented across all channels. Brand management is a long-term process that requires ongoing effort and investment.
To simplify, this is when a company uses a well-established brand name to launch a new or different product. This strategy can be used to enter new markets or to re-brand a company. This can also be a way to revitalize a flagging brand.
Brand extensions often will delude brand power, for a short term gain. If you choose to do a brand extension, do it carefully.
To conclude, your brand strategy is compiled of many moving parts, most importantly your Brand Research. If you deep dive into research, you will have a strong foundation to carry throughout the company. If you’d like support, click the apply now button below.
Troy is the CEO & CIO at Legacy Media Partners. We manage large media budgets, and solve complex scaling issues that Mid-Market companies always face. In 2021 we added $7.6 Million in additional profits to our client’s bottomline.
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