In today’s world, competition in almost every industry has increased more than ever. This is why forward-thinking companies have started focusing on their overall brand strategy so that they can stand out from the crowd and attract the target demographic with ease. So, it helps to understand how it works and what kind of effect it can have in the market for an enterprise.
The following are the key elements of a successful brand strategy:
Mission, Vision, and Values
Every business, whether it’s big or small, should have a mission, vision, and a set of well-defined values. But what are they really?
- Mission: It’s what your company wants to achieve which could be both in terms of a commercial entity and a social. Ideally, it should consist a verb, target, and an outcome.
- Vision: It allows you to picture your company’s future and the kind of products and services you want to develop for your clients/customers
- Values: These are the principles that you stand for. These are important as they influence your brand’s actions and communication.
When your brand has a unique identity, then people can recognize it easily which is usually through elements like a company logo, styling elements, messaging, etc. That said, it’s imperative that you understand the do’s and don’ts of building a brand identity in the first place. Otherwise, you can run into the risk of rebranding which is both costly and expensive.
No brand can be complete without visible style elements. These include company logo, color palette, fonts, image style, and graphical elements that are used in websites, newsletters, blogs, etc. In fact, some of the key branding tips for blog include coming up with a custom design for an article’s cover and choosing a design that reflects the essence of your blog. These are related to the visual appeal of a blog and play a critical role in brand strategy.
A solid value proposition gets the customers/clients interested in a brand. It basically consists of compelling reasons why they must try to learn more about a business and how they can benefit from the exercise.
The following are some great examples on how to write a great value proposition:
- Dollar Shave Club: Dollar Shave Club promotes its value and benefits rather than features. It also highlights pricing which is easily one of the strongest points in its value proposition.
- Bitly: Bitly is a popular tool for link shortening. It highlights the 3 main services which are: “SHORTEN.SHARE.MEASURE.”
- DuckDuckGo: DuckDuckGo is a relatively less popular web browser that sets itself apart from the rivals by emphasizing on security and privacy. It sells its value proposition cleverly by marketing what it doesn’t do which is that it doesn’t store or share your personal data.
This component of brand strategy involves analyzing the perception of a brand in public. What it concerns is the opinions of the customers that they had in the past and how they have changed now. Some important questions that one can ask include:
- Does the target demographic know the brand?
- What does it think of the brand?
- How does the brand want the customers to think about it?
Developing a comprehensive brand strategy involves a variety of elements. These are discussed above in detail. However, it’s also important to know the role of each element in the process as only when they all work as a cohesive single unit, the entire system works like it’s supposed to.