In fact, when people ask me why brand strategy is so important, they would like to follow it up with this question, "You can run a business without being a brand, right?
Sure. Just have a business and do your thing. It's all possible. But will your business be memorable? Will you build something that is future-proof and has long-term value? Will people feel any affection for your business? Or will they switch as soon as there's a competitor with a better message? Will you last long? Without a strong brand strategy, the odds aren't really in your favor.
"Your brand is what people say about you when you're not in the room."
-Jeff Bezos
The word branding is often misunderstood and is not at all a vanity or just aesthetics. Branding has become very important because the communication challenges for companies have shifted quite a bit. Traditional communication channels such as newspaper or TV, for example, are not nearly as effective in reaching consumers as they used to be. Furthermore, consumers have higher demands on companies and can no longer hide behind high walls.
Transparency, trust and connection are the secrets to longevity of your business, and it is difficult to succeed in this without cultivating a brand.
The secrets of a successful brand strategy
Building a strong brand is a lot of work, but the building process is going to pay off tremendously, not only now, but especially later. From being able to charge premium prices to cultivating loyalty. These are the 5 key secrets that are going to help you build the right brand strategy.
#1. Differentiation
It goes without saying that virtually every market is already filled with cutthroat competition. Marketing, too, is being played sharper online than ever. With so many online brands, it is increasingly difficult to be seen and heard. A brand strategy is the key to breaking through that noise, helping you understand who you are, why you exist and how to communicate this effectively. The more consistently and cohesively you present your brand, the easier it is to stand out from the competition.
Differentiation is going to work, regardless of size or industry. Unstoppable big brands like BMW, Apple and Coca Cola have built branding empires, but branding is by no means exclusive to mega corporations. Sole proprietors or small startups can also build brands that are (or become) sensations. In fact, for many startups, being the little guy is actually a big part of their identity.
FLO (short for the Florentin neighborhood in Tel Aviv), for example, is a restaurant in Groningen inspired by Tel Aviv with its vibrant international atmosphere and "Balagan" style of food. The food, drinks and vibe are in some ways similar to the city of Groningen. FLO has quickly established a unique cult status in the city by delivering on its brand promise: FLO, combines Urban feel with an intimate atmosphere.
FLO's emphasis on unique, flavors and intimate atmosphere has helped the brand attract fans from far and wide. FLO is very good at differentiating itself from local competition.
#2.Relationship Building
In the past decade, we have seen a huge shift in marketing, from interruption marketing - the one-way conversation of advertising - to engagement marketing, which is all about interaction, connection and relationship building.
To find and attract the people who become loyal, lifelong fans, you need a strong, authentic brand identity that accurately reflects your beliefs and values. This is more important than ever because people want to support brands whose values match their own.
According to Accenture's 2018 report "Global Consumer Pulse Research:
- 63% of consumers surveyed prefer to buy products and services from companies whose purpose reflects their own values and beliefs.
- 62% say their purchase consideration is driven by a company's ethical values and authenticity.
- 64% find companies that communicate a clear reason for existence (purpose) more attractive than those without.
A strong brand strategy provides the blueprint for how you communicate. The more transparent you are, the more people will come to you and, most importantly, trust you. That trust is the key to building lasting relationships.
A strong brand strategy also helps put your values into practice. For example, during the COVID-19 crisis, a brand like Hooghoudt made a great effort to show themselves to their communities in a different way. They converted a production line to develop a disinfectant for the healthcare industry.
Thus, in the long run, this brand is also likely to earn the public's sympathy and long-term support.
#3. Pricing
Why are you willing to pay and do more for Nike shoes or Apple products? It's not just because they're cool. It's because these brands have created a premium brand experience, from their advertising to the finished product and packaging.
Try a pair of Nike sneakers and you'll feel like an athlete. Pick up an Apple tablet or any Apple product and you instantly feel like an artist. These brands have created a brand experience so strong that it is part of their DNA. The result? People see them as the gold standard in their industry, and their pricing reflects that.
With a strong brand strategy, you can ensure that you deliver on the brand promise at every point, creating a brand experience worth paying for.
Fashion brand Balenciaga is a luxury fashion house founded in Spain by Cristóbal Balenciaga, a Guetaria-born designer. The brand is now owned by French multinational Kering. Balenciaga charges a hefty price for their products.
But Balenciaga has created a strong look to support this brand, reinforcing their obsession with simplicity, design and quality in everything - even in their extremely minimalist website.
Photo: Balengiaga
#4. Corporate culture
Trying to connect with the people who will ultimately use or buy your product or service is a crucial part of any healthy business, but there is something else that greatly influences your success: the people who work for you. A brand does not exist in isolation. It is a living, breathing entity shaped by the people who work for it.
If the culture in your company is toxic or your workplace feels unsafe, your brand won't last long. Why?
- First, because authenticity and transparency are vital to any community you build. (According to the Accenture report, 65% of people are attracted to brands that treat their employees well.) If you don't put your beliefs into practice, your brand can be painfully and publicly pilloried.
- Second, you will fail to attract and retain talent, which will affect you negatively in the long run.
Example: During the corona crisis of 2020, a new batch of corporate villains emerged when it turned out that a number of large employers showed their dirty black sides during this crisis. Silicon Calley's TripActions was the worst. This so-called "unicorn" start-up focused on business travel put a quarter of its staff out of work via videoconference. Instead of taking advantage of the financial opportunities for support promised by the banks, the hip company decided to deadheadedly inform 300 employees by video message that they were laid off as of April 1.
With a strong brand strategy, you can clearly articulate and adhere to purpose, vision, mission and core values - then work from the core principles that keep people on your team connected and engaged.
Is your team currently happy and satisfied? Do they know why your company exists and how they can contribute to it? Do they feel fulfilled when they come to the office? If the answer is no, it's time to rethink your brand strategy.
Dropbox is particularly adept at employer branding, presenting itself as a brand that is creative, inclusive and worth working for and with.
#5. Decision-making
It can be hard to make the right choices for your brand in the long run when you're facing big challenges today. This is why so many brands overreact or make impulsive decisions when problems come up - and often to the detriment of the company or the people who work for your company.
Whether you're dealing with an economic downturn due to the corona crisis, a failed launch or internal friction, there are always tensions that can challenge your brand, but a good brand strategy helps you navigate these issues much more effectively.
When you have a clear idea of the reasons your brand exists. When you know what you are trying to achieve and what you believe in, you always have a Pole Star in front of you that can guide you in making both small and big decisions.
Is the new blog about your business or about a customer experience? Are you looking to partner with a particular vendor? Are you hiring an intern? Are you expanding internationally? A documented brand strategy will steer you in the right direction at all times.
When we at Fitbrand face challenging moments, we always think about the reason for our existence. The reason for our existence has influenced every aspect of our strategy. This ranges from the types of companies we do and don't work with to the products we create to help our community.
How do you build a good brand strategy?
Building a brand strategy does not happen overnight; it is a process that evolves step by step. But there are some choices you can consciously make to get yourself on the right track. If you are ready to revise or completely revamp your brand strategy and want to tell your brand story more effectively, try the following 6 steps.
- Define the heart of your brand. Every brand is built around some key core principles. Download our free workbook to identify your purpose, vision, mission and values.
- You need a strong foundation to build on, and a brand strategy gives you that by helping you identify your values, goals and so much more. As mentioned, this takes time, but our workbook will get you a long way.
- Rewrite your content strategy. Your content strategy is technically part of your brand strategy, but many brands operate with a content strategy separate from those larger goals, when they should be connected.
- Create a visual identity that reflects your brand. A visual identity is another means of communication, so make sure it includes everything you need. Use this handy checklist to design a comprehensive identity and document it in a style guide.
- Refine your brand's tone of voice. You need a consistent tone to tell a powerful brand story. Use a tone of voice framework to ensure that your tagline, value proposition and messaging pillars are always aligned.
- Tell stories that matter. Customers are people with their own thoughts, interests, desires, fears and feelings. Focus on creating a brand experience that connects to those feelings, whether you're helping solve a problem or improving their lives.
Of course, we know that it can be very difficult to build a brand from scratch, or completely overhaul it, especially if you don't have a lot of bandwidth or the right resources at the moment.
If you want to hire an agency to strengthen your brand identity, we are of course open to an introductory conversation or call.
Were you inspired by this article? Make work of your brand strategy.
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