Your brand strategy is the most important long-term aspect of business. If your aims are to make transactions and create an image of your business within the present marketplace, the branding strategies you’ll approach will decide whether you’ll celebrate long-term success.
Certain factors could influence the success of a brand strategy. From proper competitor analysis to setting up internal structures from the get-go, ensure you have procedures to ensure consistent customer service, adequate workflow, and so forth. In today’s article, we’ll examine nine strong factors that could bring your brand to the next level.
The branding strategy that you adopt is made up of more aspects:
- The way you display your name, products, and services
- The unique selling proposition that you’re coming up with
- Your brand’s mission or purpose
- So much more.
It is the most challenging aspect of a newly launched business because it greatly impacts and influences your company’s performance in the long run.
There are though certain factors that could influence the success of a brand strategy. In this article, we’ll examine nine strong factors that could bring your brand to the next level.
1. Define Your Brand’s Value and Purpose (Mission)
It all starts with a simple idea. Then, it develops into a plan and quickly turns into a business. When you’re starting to work on your branding, the first thing you must do is to define your brand. The question is: “What does my business do, and what value does it give to the marketplace?”
After figuring out how your brand is useful, you can create a brand mission or purpose. Every professional brand has its own purpose, and it is usually leveraged through marketing campaigns.
For example, Nike’s mission is to bring innovation and inspiration to every athlete. Create a mission statement for your own brand and show it to the public.
2. Understand Your Target Audience
Before you sell anything, you must do proper market research to determine what types of consumers belong to your target audience. A target audience is a group of individuals who might be interested in what you have to offer. Here’s a good exercise that’ll help you a lot:
Start to imagine your ideal customer. Think about:
- What does he want most in life?
- What are his biggest problems?
- What unfulfilled needs does he have?
- Age/nationality/gender?
- What’s the average yearly salary that he receives?
When you get a clear picture of what your ideal customer looks like, you can start to validate your branding strategy ideas, taking him into consideration.
3. Analyze the Competition
If you plan to take your brand to the next level, you’d better know what your competitors are doing. After all, you’re fighting over the same target audience, so there will always be a fight over customers. Start analyzing your competition and look for the following things.
- The quality of their products
- The brands’ messages
- Customer reviews and opinions
- Unique strategies that they’re using
These are enough to start. Take a look at your biggest five competitors’ websites and brands. With much patience, analyze their strategies and look for weak spots. When you discover a deficiency in your competition’s branding, you can leverage that.
Do something to fix their issue and let your potential customers notice the difference between you and them. One more thing – ensure you never copy-paste your competitor’s brand strategies, or else you’ll use McDonald’s as a copy-cat.
4. Focus on Your Brand’s Logo and Tagline
You realize that your brand’s logo must get stuck in your customers’ heads, right? It must be that good. First, a professional brand logo is distributed across all your promotion channels. Your Social Media channels’ profile pages, business cards, and almost every marketing material will also contain your logo.
I’d suggest investing in a professional graphic designer. The person overseeing your branding design must fully understand your company’s purpose.
Secondly, you must create an amazingly catchy tagline. Let’s use the Nike example again: “Just do it, McDonald’s. It’s just three words, but it’s an awesome message. Your brand’s tagline is essential to your success, as most people remember the taglines they liked.
5. Develop a Healthy Brand’s Reputation
If McDonald’s weren’t so tasty, their brand would suffer greatly because of their reputation. Everyone knows McDonald’s alters the ingredients to become addictive and extremely tasty. A few videos showed how unhealthy eating at McDonald’s is.
Your brand’s reputation is another differentiating factor between a mediocre and a successful brand. To maintain a healthy reputation, you must focus on your customers. You must immediately find solutions when you see negative reviews or customers who complain.
6. Seek Consistent Feedback from Customers
To stay on track, a consistent analysis of your performance is necessary. The best way to determine whether you’re on the right path is to seek feedback from your customers. You can do this in plenty of ways.
Michael Hardy, marketing specialist at Australian Writings, suggests that:
“You can take advantage your brand’s Social Media presence and get responses directly from your followers. In order to motivate your audience to help you with constructive feedback, offer them an incentive. It could be anything from a special report to a small free e-book.”
The feedback should never stop. It is the only way to find and fix your brand’s issues. In addition, your company’s reputation will improve due to all the positive adjustments being made.
7. Hire the Right Employees
Your employees are the only ones who will assist your activity, so you’d better choose them carefully. The recruitment process must be quite strict, and you should wait until you feel they’re good for the team.
The people you hire must understand your brand’s purpose and mission, and they should resonate with it. If they enjoy the cause and workplace conditions, they have no reason to perform poorly.
8. Stick to Your Brand’s Purpose
When you start your company, you are declaring your brand’s purpose. According to that purpose, your actions and strategies will be heavily influenced. Here’s something that could sabotage your brand’s success: the inability to stick to your brand’s purpose.
Many entrepreneurs do the big mistake of changing their plans along the way. This is wrong because you have already stated your mission. Therefore, changing your brand’s purpose will make you lose a lot of reputation and customers.
9. Set High Standards and Eliminate Limits
Do you actually want to become the best in your industry? Unless there’s a big monopoly in the industry (Coca-Cola, Google, Microsoft), no one says that your brand can’t become the best. If your niche market is smaller, there’s quite a big chance to overstep your competitors in time.
Set high standards and goals, and try to eliminate your limiting beliefs. You may think: “But I don’t have the necessary capital,” or “But X Competitor is always going to be the best in the field”. These are such damaging beliefs.
Everything starts with you – the owner of the business. If you limit yourself, your company will never become the biggest dog in your niche market. Creating and executing a well-thought-out plan means you take control, and your business can work around your lifestyle rather than the other way around.
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Conclusion
If you want to have a strong brand, everything you do has to be qualitative. The employees, the marketing campaigns, the investments, and all the factors that come into play will have a huge impact on your branding performance.
If you care to invest time, focus, and money into these things, you’ll skyrocket your chances to become a big name within your industry.
