Here at Track5Media, we’re all about keeping our brands healthy and in tip-top shape. At the moment, we’ve got six separate lead generation websites (not including the one you’re on) that we maintain. The sites are devoted to healthcare staffing, commercial trucking, and senior care placement. And while there are many similarities between each site, their audiences and the types of content vary widely! Still, we do our best to maintain a distinct identity as Track5Media, whether that’s through our content’s voice, what we share on social media, and the overall aesthetic decisions we make. But what is brand strategy and how can you utilize it to your advantage? We’ll discuss that here!
What is Brand Strategy | Basic Starting Points
The main idea of any brand strategy is going to center on encompassing some specific, long-term goals that you can steer your product or business toward. It’s going to be figuring out exactly what aspects of your company’s character will stand out from all other competitors. Really, your brand strategy is a process that needs to connect these main things:
- Consumer Needs
- Your Product’s Value
- The Competitive Environment
So while it may be natural to think that your brand strategy is your logo, your name, your website, or your product itself, this isn’t exactly true. Yes, all of these things are necessary aspects of facilitating a business, but really a brand is more closely related to the experience itself! It’s the intangible qualities of your company which are important to highlight and maintain throughout the implementation of your brand strategy.
But how? Here are some all-purpose takeaways:
Find your Purpose
As explained by Allen Adams, chairman of the North America region of brand consulting and design firm, Landor Associates,
“In a marketplace in which consumer confidence is low and budgetary vigilance is high, it’s not just making a promise that separates one brand from another, but having a defining purpose.”
Yes, it does make sense to define your business strategies in terms of the promises you make to your customers, but brand strategy often relies on that purpose you fulfill in the lives and businesses of others. In terms of how a brand exists in the real world or a digital space, Business Strategy Insider defined purpose in two general ways:
• Functional: Focuses on a business’s success in terms of the immediate or commercial reasons. Basically, the ‘how’ of your method of generating income.
• Intentional: Refers to a business’s ability to make money based on public perception and the impact it seeks to have on customers or the world in general.
Hone Your Consistency
As with any of the top brands out there, it’s often the case that there is a sense of cross-platform consistency. Essentially, you’re seeking to magnify your purpose and unify the presence of your brand by finding consistent ways to depict and communicate this.
In terms of online marketing today, bringing a consistent consumer experience from one device to the next is absolutely essential. Before most sales even occur, customers will have made several touch points with your product or service. Your brand strategy needs to account for the fact that a consistent voice, content, message, and service can all be found wherever the consumer journey may go.
It may be that someone doesn’t have a need for your product or service now, but when you can be the solution, then having that brand recognition is what it’s all about!
As much as marketers like to believe that a brand strategy is exactly as it should be, maintaining a healthy brand means staying flexible to change. Of course, you’re probably wondering how it’s possible to stay consistent while considering new insights and marketing maneuvers — but it all comes down to balance.
So if you’ve been running targeted ad campaigns that maintain your voice and communicate your message but the results aren’t what they should be, your brand strategy needs to accommodate updates made to itself. This often means finding a good mix of recognition and variation so that your content isn’t confusing to customers while building a stronger presence to reach your goals.
So, what is brand strategy? In the end, developing your brand strategy relies on the key components of recognizing your audience, understanding your purpose in their lives, telling your story as a company, and remaining open to the new opportunities to evolve!
What is brand strategy to you? Let us know in the comments below!