No matter the size of a new business, a successful brand strategy is important to make a lasting impression in the market place.
Indeed, a strong branding strategy is instrumental for retaining customer loyalty and separating your business from competitors.
With that in mind, it is worth exploring how to create a successful brand strategy.
What is brand strategy?
People who are just starting out with a new business often ask themselves the question; ‘What is a brand strategy?’
They may even find themselves googling ‘What is brand identity?’.
Branding strategies are designed to create a defined image of a business to help it stand out from the crowd.
They are a long-term plan for every enterprise and a successful brand strategy extends far beyond simply a name, logo, fonts and colours.
Done well, it can shape how your business is perceived by a target audience by firmly cementing its mission, personality and values.
What are the different types of branding strategies?
There are many types of strategies that fall under the category of branding.
Some brand strategy examples include personal branding, product branding, corporate branding, service branding and retail branding.
First, personal branding entails building up the public perception of an individual by positioning them as an authority or an expert in a certain field. By highlighting their skills, personality and positive attributes, this type of branding helps to create a better reputation for the individual.
Another branding strategy is product branding, which is when a certain product is distinguished for a target audience.
Corporate branding refers to the promoting of a brand name of a business instead of certain products or services. This type of branding helps businesses cement key relationships with their target audience by giving their business a unique voice. It also encourages the public to identify a certain business with linked product names, logos and designs.
Service branding entails establishing a business as one with high quality services with the aim of matching customer expectations. In this way, a unique brand identity is formed and a business is able to separate its services from its competitors.
Retail branding refers to the effort made to make customers feel a certain way when shopping in a physical store or online. This strategy focuses on building the reputation of the retailer while creating a memorable experience for the consumer.
What makes a good brand strategy?
Because a brand strategy transmits a message about a company’s values and messages, it is important to take several factors into consideration when devising one.
A brand strategy that stands out is one that has a solid logo, brand name, tagline, and a tone that accurately represents your brand personality and mission.
It will also identify and focus on a target audience, defining your unique selling points and brand positioning, allowing your business to become easily recognised.
It should also be passionate, creative, and strive for consistency across all elements.
Some of the most successful organisations, such as Starbucks and Apple for example, are recognised across the world because they have a niche brand identity, messaging, and tone that has been achieved by curating a good brand strategy.
The best brand strategies are those that embody strong company values and showcase an in-depth understanding of a target audience while creating a clear distinction from similar companies in the market place.
How do you build a brand strategy?
To build a brand strategy, it is essential to define your brand, establish your brand purpose, solidify the visual components of your brand and identify your target audience.
It can be a challenge to cultivate a great brand strategy, especially if you don’t have any experience in this field.
That is why it is important to reach out to experts to help you create a unique brand image that resonates with your target audience.
If you want to stand out in a saturated market, why not consider turning to the expert team at Rapid Agency to book a free brand strategy consultation?
With our wide array of branding services, reaching out to our team of creatives and strategists will be one of the most important decisions you can make when curating an impressive brand strategy.