Brand Strategy
Building a brand is
as much an art
as it is science.
No brand can be build without a plan. Brand strategy encompasses defining the vision of your brand and working out a character to make it identifiable.
Please note that your brand is not your logo, product, your service, your website or your name. It is much more. Infact it is something that affects all aspects of a business and is connected to your customers needs, emotions and faith. It is the perception. It is intangible. It should generate feelings and emotions of trust, faith and confidence.
A common mistake that businesses make is to get caught up in short-term activities and tactics to drive business. While, there is nothing wrong in that – and it can potentially generate business – but will certainly not build a brand. Building a brand can never be short-term. Long-term goals need to be defined. It also means that businesses have to be little soft on aggressive weekly or monthly ROI or growth patterns.
At BitWise we can be your brand architects. We can design a lasting structure to sustain your brand for years to come.
Some of the key elements to define a brand strategy
Purpose
A clear purpose needs to be defined for each brand. It also serves as a diffentiator in a competitive market. The purpose has to be more than achieving profitability.
Consistency
Be consitent in all your messages and designs. Everything needs to be cohesive. Consistency brings in brand recognition – resulting to customer loyalty.
Emotion
Buying is not always rational. People pay thousands more to buy a mercedes which almost serves the same core purpose as any other car. It’s the emotion that plays the part here. Only a brand can bring in such customer behaviour which overrides rationality and logic.
Flexibility
Brands and businesses should be consistent yet flexible enough to accommodate to changing times. The world is very fast-changing and businesses should stay relevant or they will perish.
Employee Engagement
If your team faces the customers, then it becomes extremely important that each one of them is consistent. If your brand is contemporary and colorful, the same peppiness should reflect in your teams outfits, to the the way they engage with your customers. You cannot have old grumpy – customer facing team mates.
Loyalty
A strong strategy should be worked out to keep your customers loyal. Competition is fierce and unless there is an incentive for your customers to stick, it is very easy for them to sway over to competition. The brand strategy should focus on customer loyalty and stickiness.
Competition
You need to strive to create more value than your competition. Competition is always healthy and keeps you on toes. It is important to study and learn from competition.
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