All that strategy making?! Come on, why should I do so much when I can just make a fancy logo and give a catchy name. I think that’s enough to call it a brand right? Nowadays, branding strategy is so hyped up, is it necessary for your brand? More than necessary, is it essential for your brand? Well, to sum up, the answer to all the questions is YES. Your brand must have stable growth. It is like the brand’s blueprint; if you build a building without a blueprint and a proper plan, you’ll obviously be in jail in the next 6 months. What I mean to say is that it’ll be a disaster and you’ll not know what is going on, the same thing is here over the brand side.
- If your brand strategy is strong, there is a high chance of word of mouth and it will generate customer loyalty.
- Having a unique brand strategy will keep you ahead of your competition.
- Your strategy will allow you to understand the market and what kind of audience you’re dealing with.
Let us first see the difference between your brand as a whole and your brand strategy. When hundreds of companies do the same thing as you, the only thing that will make you stand out is your brand name or brand identity. There are hundreds of shoes in this world, but when there is a shoe with a Nike logo, the value automatically increases.
But Nike did not reach this place in a go. They structured a plan on how to reach here, whom to advertise to, who is the correct audience, where to market and whatnot. The more they targeted the right places, the more they were heard and thus Nike is what you know today.
- Your brand is what the people know. The brand strategy is the ‘big plan’ behind the brand which the people don’t see.
- The brand is the end product of how your brand is perceived and looked up to by the people. Your brand strategy is the idea of how you want people to perceive your brand and the efforts which go for it.
Your brand strategy helps you identify and articulate who you are and what you represent. You need to understand your core values before you jump into the market. You need to know how many sharks are there in the ocean before you jump in. I’m just kidding, don’t jump in the ocean looking for sharks!
I am basically saying that you understand yourself in the process and it helps you in bigger ways than you think. Your weaknesses, filtering ideas for the future and finally getting everyone on the same page.
Now it’s your time to shine. Let me know what are your strategies, where do you see your company in 5 years and has it truly become a brand. Does your company have a brand strategy in place already? What benefits did you get from the process? Or maybe you’re still researching the subject, trying to figure out the best way to move forward.
