What is a brand strategy? Quite simply, it is the common business philosophy that a brand is the sum of a company’s corporate identity, its perception by customers, and how those perceptions are formed and maintained over time. In this article we’ll take a quick look at some of the most basic aspects of brand strategy and share some of the strategies that companies use. Brand strategy can take many forms, but the one that interests us the most is defining what we do – how we do things, how our product or services differ from the competition, and how we communicate those differences.
Brand strategy by definition, is a strategic plan for a brand to reach pre-defined, pre-defined objectives. A sound brand strategy should be well-built and implemented across all functional business functions, the ability to enhance customer experience, competitive edge and long-term financial performance. The beauty of these “smart objectives” is that they are easily defined, have clearly defined milestones, and are easily measured. This allows for transparency and accountability, which are absolutely essential for creating a brand strategy. A Brand Strategy Agency such as Really Helpful Marketing can take you through all key aspects of your strategy and help you set goals and objectives.
Most smart brands start by defining their objectives, developing a set of marketing communications and advertising tools to support those objectives, and then defining a set of core strategies that work together to support and enhance the brand’s core capabilities. Brand strategies are therefore not so much abstract ideas; rather, they are concrete plans for optimizing the brand’s strengths and identifying where possible weaknesses might exist. We will explore some of the key areas in which companies develop and implement brand strategies, as well as the types of strategies most often used by branded companies.
