Creating a Brand Strategy: a guide for SMEs
For many business owners, 'brand strategy' is a term that can be mistaken as marketing jargon. And while it’s good to be wary, brand strategy is an area that is legitimately worth your time and effort. In fact, a robust brand strategy could just be your secret weapon for standing out in your market.
We’ve said it before and we’ll say it again — your brand is more than a logo or a catchy name; it’s your business’s heart and soul. And much just like you wouldn't rock up to a business meeting in pyjamas (video meetings aside), you shouldn't let your brand roam the market without a well developed and executed strategy.
A strategy for success
So, what is a brand strategy? Well, it’s kind of a big deal. Brand strategy is a key part of the foundation of a successful business and sits within your overarching marketing plan. Your brand strategy plans for the development and evolution of your brand, with achieving specific goals in mind. A well-defined brand strategy influences every aspect of your business and is directly connected to your consumers’ needs, emotions, and competitive environments.
Think of it as your business's recipe for success. It includes your unique selling proposition (USP), brand voice, and visual identity — all seasoned with consistency. A top-tier brand strategy entails all the ingredients needed to help you create a connection with your target market and show them why you are their best match over any competitors.
Where to start in planning a brand strategy
Creating a winning brand strategy is a process that requires an understanding of your brand, target audience, and the competitive landscape you’re working with.
When we launch into brand strategy, we kick off with competitor analysis to start to create a clear picture of where you sit among other businesses within your field. From here, we refine what that unique selling point (USP) of yours is. Then work on how to express it clearly and consistently. Consistency is key—whether your brand is more 'let’s get down to business' or 'your friendly neighbourhood expert', consistency builds recognition and trust, which are vital to gaining and keeping loyal customers or clients.
Let’s look at a few of the key parts of your brand strategy:
Defining your target audience: Identifying and understanding your target audience is essential for creating an effective brand strategy. By understanding the needs, preferences, and behaviours of your target audience, you can tailor your brand to resonate with them on a deeper level.
Positioning your brand: Positioning your brand effectively in the market is crucial for standing out from competitors. Your brand should occupy a distinct place in the minds of your target audience. This involves identifying what sets your brand apart and leveraging it to create a unique and compelling position in the market.
Establishing brand guidelines: Clear and consistent brand guidelines are essential for maintaining the integrity of your brand. These guidelines encompass elements such as logo usage, colour palettes, typography, and tone of voice. Consistency across all brand touchpoints is key to building a strong and recognisable brand. It’s a non-negotiable.
Creating brand awareness: Building brand awareness is a vital component of brand strategy. After all, this is where people get to know about you and your offering. It involves making your target audience aware of your brand and what it stands for. This can be achieved through various marketing channels, such as social media, content marketing, traditional advertising, and more…
Evolving your brand over time: A successful brand strategy is not static; it evolves over time to adapt to changing market dynamics and consumer preferences. Regularly review and update your brand strategy so that your brand remains relevant and continues to resonate with your target audience.
The impact of a strong brand strategy
A well-crafted brand strategy for your business is the gift that keeps on giving. It fosters customer loyalty, differentiates your brand from competitors, and provides a clear direction for your business growth.
Use brand strategy to turn transactions into relationships and single purchases into lifelong loyal brand advocates. Your brand is the story people tell about your business, so make sure you create one that keeps them talking for the right reasons, and coming back for more.
Not sure where your brand is at?
Our brand tracker is an easy way for you to find out, and plan ahead for the next 12-months. We would love to show you how, so get in touch today.