- Elon Musk, Investor & Entrepreneur
A company’s brand is an essential part of growing a business and having success. Without a branding strategy, it is much harder for companies to have a cohesive look an feel to their company, and it is also harder to accomplish goals without a strategy.
Creating a branding strategy for a company may seem complicated or difficult, but it doesn’t have to be. If you have a vision in mind of how you want your company to look, feel, and operate, it is actually quite simple to create a branding strategy that works.
A branding strategy should be a flexible and ever-changing plan, not something that is set in stone and must be followed exactly. It must be flexible to work with changing markets, audiences, and so on. A good branding strategy is directly linked to the needs of customers and employees, and it reacts to the market and the competition that exists.
While all of this information may seem hard to digest, it becomes quite simple when broken down. Keep reading to find out how to create a branding strategy that works.
DEFINE YOUR PURPOSE
A company without a purpose is not a company at all. It is vital to have a clearly thought out and well-defined purpose, mission, and goals for your company as a whole, and your branding strategy. Consumers want to give business to companies that align with their values and beliefs. If you don’t know what those are, neither will they.
For example, instead of making a goal to “bake donuts,” create a goal to “bake the best donuts on the west coast.” Having a specific purpose for your company as a whole will make creating your branding strategy that much simpler.
Consistency is incredibly important when creating a branding strategy. Whether this is consistency in your logo, in your advertisements, or your social media posts, it doesn’t matter. All of your branding and marketing materials should work together cohesively.
Consistency is a major factor in customer loyalty, and it can lead to a huge expansion of business when your company is recognized. Consider creating some kind of style guide that you can use when creating your branding strategy. Select colors and fonts that you will use across all platforms, as well as the tone of voice that your branding will use.
Customers think they make decisions rationally and logically, but often they make decisions emotionally, though they don’t usually consider it emotionally. For example, people will purchase the same brand of car their entire life because they are loyal to the brand. They want to feel like they are part of an exclusive group and loyal to the brand they love.
In creating your branding strategy, consider ways to make your customers feel like a close-knit group. You might consider creating a unique hashtag for social media, or emotional advertisements that tug at the heartstrings. Make your customers feel like part of a group and watch sales soar.
Flexibility is essential to any good branding strategy and company. Don’t get ideas or strategies stuck in your head, as the market can change so quickly. It is necessary to stay on your toes, be flexible, and find some creativity through creating your branding strategy.
A good branding strategy changes with the times and it adapts to customers and their needs. Make adjustments as you go to keep your company relevant. Whether this is packaging, advertisements, or the product altogether, being flexible will help your branding strategy immensely.
A good branding strategy will involve employees of all levels. If your brand is peppy and happy, don’t have customer service representatives who are short or rude with customers. While this may take more work and involvement initially, it will be a huge help to your business in the long run.
Involving employees in the branding strategy starts as soon as they are interviewed. If potential employees cannot agree to or get on board with the overall branding of the company, they are probably not a great fit as an employee. It is also important that employees of all levels, from the CEO to the lowest-level employee, all work together to portray the branding of the company and be consistent and reliable with their portrayals.
CREATE CUSTOMER LOYALTY
Loyal customers are a company’s dream. They will keep coming back again and again, and they will probably bring their friends with them. Though you may already have loyal customers who love your brand, don’t forget to reward them for their loyalty.
There are countless ways to reward your employees for their loyalty. Some of the most simple ways to reward your employees are a thank you note with their product, a rewards program, or a sale exclusive to repeat customers. Whatever you decide, make sure your loyal customers know that their business is appreciated.
Customers respond to good branding. Without a branding strategy, you may be able to keep your business afloat for a long time, but you will not reach the full potential of your company. It is every business owner’s goal to make their company as successful as possible, and branding strategy is a great first step.
A branding strategy will help you accomplish your goals. It will help you create customer loyalty and have a cohesive and recognizable look and feel. If you think of the most memorable brands in the world, they all have one thing in common, and that is a branding strategy. Though their strategies all differ, they follow very similar formulas and they get customers invested and interested in their product.
Regardless of the industry you are in, the products or services you offer, or the location you are in, a branding strategy can make or break your business. Once you get your branding strategy straightened out, you can get to work on making your company the best it can be.
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Thought leaders & celebrities share their tactics for success on the Lisnic podcast by Lisa Teh & Nick Bell