A brand strategy that is well defined and effectively implemented has an impact on every area of a business and is closely related to customer demands, feelings, and competitive conditions. Your brand is made up of more than just your product, logo, website, or company name; it also includes elements that have an organic feel. Your brand is that elusive emotion that distinguishes memorable brands from powerful ones.
Branding is often considered an art by most marketers. At Sunnyday Consulting, we have dissected seven key elements of a thorough brand strategy that can help keep your business relevant for decades. Each key element is explained further with brand strategy examples to help you visualize the context with clarity.
7 key elements of a brand strategy
- Purpose.
Your brand purpose is the most crucial element in the operation of your company. When determining your brand positioning, knowing why you get out of bed and go to work each day is more important than understanding what your business promises. You ought to be aware of your motivations for working in your chosen sector as it distinguishes you from your competitors. With a thought out brand purpose your brand strategy is more focused.
Business Strategy Insider defines purpose in two ways:
- Purpose can be viewed functionally, where the focus is on the evaluations of success in terms of immediate and commercial reasons—i.e., the purpose of the business is to make money.
- On the other hand, it can be viewed to be intentional in a manner where the focus is on both success as it relates to the ability to make money and also do good in the world.
While making money is essential to almost every business, we admire brands that emphasize their willingness to achieve more than just profitability, like Patagonia:
The epitome of a brand with an intentional purpose is Patagonia. The company’s objective was modified to “Patagonia is in business to save our home planet” in 2018, from “Build the greatest product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.” Their “1% for the planet” programme has been one of their exemplary projects where they have been contributing 1% of sales to protecting and restoring the environment since 1985. They have inspired other businesses to participate in the 1% project. They have given more than $140 million in financial and in-kind donations to domestic and foreign grassroots environmental organisations, having a positive impact on the areas where they operate.
Your business has goals besides just making money. There ought to be a bigger reason. You’ll have a larger return on investment (ROI), have a higher sales volume, and draw in more clients after defining a clear purpose.
- Consistency
Companies maintain consistency to ensure that every action is in line with their brand strategy and messaging. Avoid talking about topics that don’t pertain to or promote your business if you want to be consistent. You cannot simply upload a hilarious picture to your company’s LinkedIn page for no reason. Your viewers would become perplexed if it did not fit your aim.
A fantastic example of a company that is consistent with its messages is WWF. Every aspect of the brand’s marketing is cohesive as a result of its dedication to consistency. As a result, it has developed into one of the most recognisable brands worldwide. For instance, the consistency of its brand across Instagram, Facebook, LinkedIn, and Pinterest is highly clear even from the outside of its social media accounts:
Social media accounts of WWF across various channels
(Screenshots as taken on 14/09/2022)
Even their advertisements are consistent in their messages –
Ads for WWF’s 50th anniversary
You must make sure your messaging is consistent if you want to provide your brand a solid foundation. A company builds brand awareness and fosters consumer loyalty if its messaging is coherent and consistent across various media. Every step a business does needs to be in harmony and carefully thought out. Be consistent with the tone, colours, and messages you deliver under your brand.
- Emotion
Many consumers make emotional decisions rather than ones that are based on logic. That is why a lot of businesses opt to use sensationalism. Connoisseurs of a particular product value being associated with others who share their interests highly. Maslow’s hierarchy of wants, which attempts to classify various human needs, places belongingness—the need for love, affection, and group membership—smack dab in the middle.
Since people frequently seek out interactions and strong connections with others, businesses must develop emotional ties with their clientele. To accomplish them, they have the option of forming communities. Brands that are successful at making customers feel at home will increase loyalty.
This explains why bikers have a soft spot for Royal Enfield.
By fostering a sense of community around its brand, Royal Enfield employs emotional branding. Every person aspires to be as daring and project old-school chivalry as Royal Enfield. They have their own forum and other unofficial groups on various social media platforms, giving customers the chance to feel like a member of a community that is more closely knit than just a bunch of motorbike riders.
Royal Enfield is able to establish themselves as a clear choice for someone looking to buy a bike by offering this.
Royal Enfield is an emotion.
Find a way to emotionally connect with your customers by giving them peace of mind, simplifying their life, or appealing to their nostalgia. Utilize such emotional triggers to improve your relationship and promote loyalty.
- Flexibility
Companies should be flexible if they want to maintain client interest and stay relevant. To capture consumers’ attention and maintain market competitiveness, brands use distinctive and imaginative marketing strategies. While consistency seeks to establish the benchmark for your brand, flexibility allows you to make changes that increase attention and set your strategy apart from that of your rivals.
Marvel is a great example for this kind of tactical balancing. Although it may not appear that way now, Marvel had truly declared bankruptcy in 1996. Marvel was once supreme in the superhero comic book industry. However, a general decline in comic book sales in the 1990s, along with a number of poor financial decisions, put it in terrible difficulties with insurmountable debt. Joseph Calamari, the new CEO, focused on a fresh approach: going after the film industry. As they say, the rest is history.
Marvel is as flexible as Spiderman.
Therefore, it is important to remain flexible and try new approaches to reach clients and satisfy them if a brand’s old strategies no longer resonate with the public.
- Loyalty
Brands ought to reward clients that show dedication. Don’t just sit there if you already have customers who adore you, your business, and your brand. Reward them for their loyalty. Since it contributes to the creation of favourable remarks, recommendations, and feedback, customer loyalty is worth the incentive. Gaining these consumers’ loyalty early on will result in more repeat business and greater financial gain for your company. Loyal customers can serve as brand ambassadors and advertise a business. By sending them personalised emails and exclusive offers, gifts, and discounts, brands show their appreciation for these clients.
Sometimes all that is required is a simple “thank you.” Other times, going above and beyond is preferable. For example, we love being Amazon Prime members.
Amazon’s Prime membership programme is well-known. Prime members receive unlimited free two-day shipping on millions of items for a fixed annual price, in addition to other benefits like Prime Day promotions and the streaming service that Amazon has added.
The majority of the items on Amazon can also be found elsewhere. Amazon stands out from the competition and persuades customers to buy things only from them by offering Prime. And it works; on average, Prime members spend four times as much as ordinary Amazon shoppers. (We know this because we are one of those Prime customers.)
Amazon Prime inspires loyalty
Every brand strategy must include loyalty, especially if you want to assist your sales team. Emphasizing your good relationships with your current clients sets the tone for what prospective clients can anticipate if they decide to work with you.
- Competitive awareness
In today’s world, businesses compete fiercely with one another. For a business, being aware of competitors and their strategies is very beneficial. Utilize the competition as a motivator to enhance your own approach and add more value to your brand as a whole. Brands investigate both successful and unsuccessful strategies. It is vital to describe potential strategies. A business can enhance its strategy in this way and give customers greater value.
If you want to strengthen your brand, it’s important to keep aware of your competitors’ plans, but you shouldn’t let them guide every decision you make. Although you most likely offer a comparable good or service to many other businesses, your brand is what keeps you in business. You stop being unique if you focus on every action your rival takes.
- Employee involvement
As we have previously stated, developing a feeling of consistency is essential if you want to increase brand recognition. Additionally, while a style guide can aid in creating a unified digital experience, it’s equally important for your staff to be adept at customer service and brand representation.
Every action Starbucks takes leads to the development of a close-knit relationship with its clients. The typical client visits Starbucks six times each month, while their most devoted patrons may make up to sixteen visits. This can only mean that, in addition to their mouth-watering menu, welcoming environment, and rewards programmes, Starbucks routinely offers good customer service.
Ever seen an unhappy Starbucks employee? We haven’t either.
When you require all your employees to uphold the company’s basic values you establish a solid reputation for reliable, considerate, and personable customer service.
Conclusion
So, this is the low down on all the key brand strategy components. Once you keep these pointers in mind, you will be able to put together a comprehensive brand strategy for business success.
How can Sunnyday Consulting help you?
At Sunnyday Consulting we have developed our own brand using these 7 key brand strategy components. So, we know what it takes!
As a brand strategy agency, we’ve assisted established companies and early-stage start-ups in incorporating these points in their own strategies. We can help you too. So, feel free to contact us at support@sunnydayconsulting.com or call us at (+91) 79777 31552.
