- Successful branding allows you to differentiate yourself from the competition. It will allow you to communicate what you really stand for and how you’re unique, in a meaningful way.
- A strong brand strategy will help you win loyal customers. Powerful brands create a community of fans who will always choose you over your competitors.
- Successful branding lets you charge higher prices by creating a greater perceived value, even when the product or service is no better on paper than another.
Why do you need a branding strategy?
A robust branding strategy will help guide your business decisions, keep the team on the same page and help you to be consistent and coherent. Even if you’re a team of one, you’ll be working with freelancers, designers, etc. and if your brand only lives in your head, it will be difficult for them to deliver on your expectations.
A successful brand strategy will help you navigate your overall business objectives and target audience, which is essential in helping your brand take shape. Here are five key elements of an effective brand strategy:
- Find your purpose. What impact do you want to have in the world? What’s your ‘why’? Aside from making money, what is your reason for existing? Make sure you can genuinely deliver on what you promise, as this will create trust in the eyes of customers.
- Identify your core values. Communicating clear values will attract customers who share those values. What qualities can you own and truly embed in everything you do? Make them meaningful and actionable.
- Create a brand personality. If your brand were a person, what kind of person would it be? This will be very helpful when it comes to the kind of content you share, and the tone of voice you use. Is the brand cheeky and unapologetic, or dry and matter-of-fact? Try to be as descriptive as you can.
- Pinpoint your positioning. Be very clear on the benefits your product or service provides, and how they differ from your competitors. Consider both functional and emotional benefits.
- Build your brand identity. This includes the design assets customers will see and experience, including brand name, logo, tagline, colour palettes, typography, etc. Consistency in the use of these visual elements in all communication will help increase brand recognition.
While you may be eager to start putting your work out there, taking the time to develop a strategy upfront will save you time, money and frustration in the long run. Need a hand with your brand strategy? We’re here to help – learn more about Creative Services & Branding at Talk Shop here.