Need of Brand Strategy for a company

When was the last time you spent a day without coming across any form of advertisement? As it turns out, we are perpetually surrounded by them. Brands nowadays try their best to leverage marketing techniques and enhance their online presence. And the best branding agency are those that ensure their brand’s name stays at the tip of everyone’s tongue. 

But, what exactly is a brand? 

It can be termed as a product or business that has a distinct identity in the eyes of customers. In other words, a “brand” is what the prospect thinks of when he or she hears about the brand name. It’s essential to note that a brand exists only in someone’s mind in the form of an image. Marketing professionals constantly work towards elevating this image and outperforming their competitors. 

In this blog post, we will be talking about the need for a strong brand strategy for a company in today’s times. But before that, let’s define brand strategy.

Understanding Brand Strategy

Think of a brand strategy as the compass that constantly guides a brand towards its goals. It is a complete guide, a comprehensive road map outlining the details of a business. It encapsulates a brand’s mission, vision, target market, and needs. Chalking out a brand strategy requires work. Even the best branding agencies fail at translating a brand’s essence into a clear, actionable strategy. 

 A brand strategy technically should answer four questions from the brand’s point of view: 

• Who are you?
• What do you do?
• Why do you do it?
• Who do you do it for? 

An effective and strong brand strategy helps define business goals and tailor one’s marketing efforts. It ensures that the brand appears more consistent and cohesive across platforms. Additionally, it gives the brand a clear, authentic voice and ensures customers/clients aren’t left misguided. 

Before we dig deep into why a cohesive brand strategy is needed for a company, let us first understand some of the elements that constitute a brand strategy. 

Elements of a Brand Strategy

Some of the key essential elements of a brand strategy include the following: 

• Target Audience

While charting a brand strategy, defining the target audience is the most important step. Once one is aware of one’s potential customers, one can align values with those of the target audience. Since the market and customers’ expectations are constantly evolving, the elements of brand strategy will need both flexibility and futureproofing. 

• Brand Promise

A brand promise is a value or experience a company’s customers can expect to receive every single time they interact with that company. The better a company can deliver on that promise, the stronger the brand value will become in the minds of customers. 

• Brand Voice

A brand voice is a brand’s personality. It must run consistently through all communications, i.e. social media, websites, blog posts, emails, and advertisements. For a strong brand voice, one must align it with the company’s mission statement and core values. Also, the brand’s voice needs to be authentic. 

• Brand Positioning

Brand positioning can be defined as the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market. In other words, brand positioning describes how a brand differs from its rivals and where, or how, it sits in customers’ minds.

Apart from the above-mentioned elements, some others include brand values, brand purpose, market analysis, and many more. 

Let us now talk about the need for a brand strategy for a company. 

Reasons why a brand strategy is required 

• Helps to articulate brand values

It is often said that people don’t buy what you do, they buy why you do it. For a brand to attract loyal customers, it needs to figure out what it stands for, and how to communicate that message to the outside world. A strong and cohesive brand strategy ensures this communication is taken care of. Best branding agencies around the globe see to it that every touchpoint a customer has with a brand reinforces its core values and purpose. 

• Helps the brand stand out

Today’s market is already filled with a gazillion business ideas culminating in the form of products/services. In such a scenario, coming up with an idea that is rare is tough. In such a competitive environment it takes work to appeal to the audience and get them to buy what you offer. This is where brand strategy comes in, helping you stand out from your peers. 

• Identity

The identity of a brand is an extremely key aspect. It helps add layers to its personality and helps people associate a unique image with the brand’s name. A brand’s identity includes its name, logo, branding, typography, mission statement, colours, imagery, and several other factors. This brand identity comes forth from brand strategy. 

• Crafting Customer Experience

One inherent quality of all good brands is the fact that they provide their customers with something that no one else in the market can. However, how does one decide if one market offering is different from another? This is where brand strategy comes into the picture. With a well-structured brand strategy, one can craft a truly unique customer experience. It builds trust and loyalty with the customer. It gives a clear and concise message. 

• Longevity and Growth

When a brand is in touch with its business values and mission, it always sees the bigger picture. It eases the process of making essential decisions. A strong brand strategy can help increase sales and ensure the brand stands the test of time. 

When it comes to crafting compelling brand strategies, Litmus Branding situated in Ahmedabad, comes across as a notable and trustworthy name. It easily stands out and is considered one of the best branding agencies in India. They have an extensive workforce of graphic designers, SEO experts, creative writers, and illustration artists. The marketing and branding strategies crafted by them have elevated several renowned brands.

We hope this article helped you understand the nitty-gritty of brand strategy and why it is of such immense importance for a company.