A brand is more than a logo or company name. Your brand is what people say about you when you’re not in the room, the perception that clients or customers have of your business and the voice that defines your organization as a whole—to recognize the value potential here; however, requires branding strategies encapsulating each element.
The rules around branding are evolving more rapidly than ever, thanks to a changing consumer environment. The rise of Millennials, social media and thought-leadership are pushing brands to think differently and engage with their audiences in new ways.
In a world where 64% of customers pursue relationships with brands based on shared values, companies need to identify branding strategies that are designed to make people stop and pay attention. In simple terms, if you want to succeed, then you need to learn how to create a brand that becomes your customer’s best friend.
What is Brand Strategy?
Branding strategies are the action plans that organizations use to differentiate their products, services, and identities from their competitors.
Essentially, a brand strategy is your long-term brand, which helps to identify what kind of image you want to build for your customers. This means thinking about what kind of feelings and expectations you want your audience to associate with your company.
Do you want to be authoritative? Sophisticated? Funny? Professional?
A brand is a culmination of all the intangible feelings and thoughts that accumulate in a customer’s mind when they think about your business. Brand strategies are your way of altering those perceptions until they suit your company goals.