A brand strategy also spotlights exactly who are the customers that you can serve better than anyone else in the competitive landscape. Once you know who and where they are – let’s call them your perfect customers – you can also see the path to best reach them. Better yet, they can now see how to get to you.
Once a brand strategy is adopted, your perfect customers see who you are, why you’re valuable to them and how to reach you. Pretty ideal scenario, wouldn’t you say? So what goes into a brand strategy?
You have to carefully examine four aspects of your business
- Your products and services
- Your customers’ experiences
- Your competitive environment
- Your internal values
Whatever market you’re serving, you’re trying to meet the demands of a certain customer base. But are you delivering exactly what that base wants, and in the way that they want it? Henry Ford famously said, “If I had asked them what they wanted, they would have said faster horses.” But, of course, when he looked deeper, he could see what his market really wanted was more speed. He had a solution for that. A strong brand strategy has to carefully examine the customers’ worlds, identify their true pain points and measure how well the organization’s offerings alleviate them. Can you improve the solutions you offer the market? Can you innovate a newer, better solution?
Customer experience has always been a key ingredient in establishing a strong bond with a market. But, these days, it is ever more crucial. And the day is almost here when the way your customers experience your business on mobile platforms will be the most important of all. Recent research from Sirius Decisions reveals that, even in the B2B world, 80% of customers base buying decisions on customer experience, not on price. So it’s vital that the customers’ journey is optimized at every touchpoint, starting from when they first begin searching online for a solution to their need – before you even know they exist. At every point along their way, they should encounter an organization that is consistent, helpful and ready to add value.
Your relationship with your market does not exist in a vacuum. Competitors, direct and indirect, are always hustling to push you aside. A strong brand strategy examines how your competitors are positioning themselves. How are they branding themselves? What differentiators do they claim? What trends are they following? What are their weaknesses? What open territory are they leaving for you to exploit?
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to your perfect brand strategy.
Every business has a code of ethics, either written or unwritten. And that code reflects the internal values of the business. Markets have values too and it’s important for the businesses that serve those markets to stay in alignment with them. Sea World ended their practice of keeping orcas in captivity. For decades, Sea World’s market was happy to attend live circus acts featuring performing killer whales. But, as the customers’ values shifted, Sea World had to shift along with them. A strong brand strategy ensures the business and the market share the same set of values.
In most cases, all of the above can be determined by qualitative research. It’s simply a matter of asking the kinds of questions that will reveal useful insights. You can’t be satisfied with the “faster horses” answer. You have to get under the skin of your market and find out what all of its constituencies – customers, employees, vendors, etc., everyone whose perception of your company is important to its future – hold to be true. That’s actionable intelligence.
When armed with all the facts, you’re ready to do some careful analysis and build your brand platform. Typical planks in the platform: Your purpose statement, your mission statement, your positioning statement (including your unique, differentiating brand promise), etc. When all this is incorporated into a formal brand strategy, it’s pretty remarkable how the next steps in the marketing process become clear and obvious.
When asked to describe, in one word, the most valuable take-away our clients gained from working with Boardwalk, the word most often cited was “Clarity”. Because, once that brand strategy is in hand, it’s as if a light switches on and a direct path to success is illuminated.
Best Branding Reads – Week of December 3, 2018
Payless Set Up A Fake Boutique For Influencers Called ‘Palessi'
Once again proving it’s all about perception. Hlarious
4 Myths About Rebranding
Thanks, Chris Wren, for always making important, vital points in a short read.
MINI wants to become your landlord and coworking space provider
MINI has a strong enough brand they can drive motor it anywhere.
How Brands Can Confront The AI Platform Challenge
What happens to the brand relationship when Alexa becomes your best friend and personal shopper?
New Logo for Government of Mexico
Let’s hope AMLO can bring substantial change as well. Viva Mexico!
A Proust Questionnaire for Personality Brands: Laurel & Hardy
How would your brand answer these questions?
Brand Strategy For The Startup CEO
Excellent advice for the owners of any marketable asset, not just startups.