Brand Strategy: What is it and why do you NEED one?

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If you’re a business owner, then you’ve probably heard the term “branding” numerous times. You’ve also probably seen business gurus tell startups to invest in their branding strategy and take time in finding the IDENTITY of the brand.

What does all of this mean?

Well, every business needs a brand. It’s not just about the name that you register your business with. Your brand is the representation and the life of your business. It represents YOU (if you are building your personal brand), or your ideal client (if you are building a product based business).

Some people think that “brand” means logo, a business’ color schemes, or it’s tagline, but. . .

That’s not quite right.

Your business’ brand is more than its logo, name, or slogan — it’s the whole experience your target market and customers have with your company. Because the brand serves a HUGE role in the success of your business, it’s important to plan and create an effective strategy for it.

Your brand strategy is defined as a long-term plan for the development of a brand to achieve specific goals. The brand’s strategy defines what you and your business stand for, a promise you make to your target clientele and existing customers, and the personality your business conveys. It also guides every way you communicate and interact with your audience.

Because this strategy is about achieving your business goals, it is key that you are able to define these points that will drive your brand:

  • Your brand’s mission, which is the functional description of your business. What does your business intend to do, and how?

  • The brand’s vision. What is your business’ BIGGEST goal? What’s the end-game?

  • Your business’ purpose - What is the purpose of your business? Why did you start your business? What problem do you solve for your customers or clients?

Once you identify these key points, it will be easier to picture the elements that make up your business: your brand’s personality, voice, and visual expression. Getting all these together will be your stepping stone to building the brand that properly reflects YOU and your business.

But why is it so important to have these branding elements in place? What does your business get out of it?

Not only does your business acquire a distinct character; it helps distinguish your business from your competition, and makes you more recognizable to your target audience. It also helps you plan out your marketing strategy more effectively so you can obtain a better Return on Investment (ROI).

Get your pens and paper out (we like doing it old-school), and plan your brand strategy.

If you need assistance in that department, you know where to find me!