What's the point of a brand strategy?
Like all other areas of setting up or running a successful business, you need a strategy. Whether that’s your business plan, your financial investment, or the product/service you offer, your brand is no different. Without a brand strategy, how can you write marketing messaging if you don’t know what your brand stands for? How can you write content when you don’t know your brand’s voice? How do you describe your business when delivering a pitch to a potential customer? Without these things, it can often lead to wasted marketing budget and you’re left wondering why your marketing just isn’t working. A brand strategy helps give your business clarity, consistency, and direction. Your brand strategy will form part of your business foundations and you will find yourself using it every day. Here’s how:
Decision making - All the decisions you make for your business should be in line with your brand strategy. If you don’t have a brand strategy, what do you base your decision making on? For instance, if your business mission includes operating sustainably, then you need to make sure all the decisions you make for your business are aligned to this.
Relate to your customer - Your brand strategy will help articulate your business purpose and what you stand for, making you relatable to your customers whilst drawing them into your brand.
Pricing Structures – What is your market position? Are you a luxury high end brand or low cost, economical brand? Knowing this will determine your messaging, where you sell and for how much.
Content - Having a clearly defined mission, vision and brand story gives you instant content, whether that’s to write social media posts, talking about your business or an introductory blog. This content can be talked about and used time and time again as it is integral to who you are as a business. If you ever get stuck on what to post on your social media, go back to your brand strategy.
Stop wasting money on marketing – If you don’t have a brand strategy then you can’t successfully and effectively market your business. For marketing to be effective, you need to know who your target market is, what position you hold in the market, what your messaging is and how to appeal to your audience. Your brand strategy will help answer these questions for you.
Give you competitive advantage – It will help you to understand why you are different from everyone else in your market, and why your target audience should buy from you, rather than anyone else.
Now you understand the point of having a brand strategy, all you need to do is write one! Get in touch if you need help.
