Did you know your business won’t succeed without an effective brand strategy? Brand strategy is the how, what, when, and to whom you communicate your product to the world. Having a clear brand strategy leads to stronger brand equity, or how people perceive your product, and how much they are willing to pay for it.
According to HubSpot, here are six components of a comprehensive brand strategy to help keep your company around for a while.
Business Model Alignment. Your brand is not your product, your logo, or your website. It’s actually what your customers perceive about you and how you make them feel. Figure out what your company does best beyond what you sell, and make it a part of your brand strategy. This goes beyond your product itself -- it's about selling the problem you are solving.
Consistency. Make sure your key brand attributes are clear throughout all of your communications. If you add a new photo to Facebook what does it mean for your company? If it doesn’t tie back to your brand's message, you will have trouble differentiating yourself from competitors. To reinforce the message, in your company meetings, encourage the feelings you want your brand to evoke in customers as well as your employees.
Emotional Connection. Customers can either think rationally about your product, or they can think emotionally about it. Find a way to connect to your customers on a deeper level. Connect with your customers on this point before and after a sale. For example, answer their questions and concerns on social media - a little goes a long way.
Rewards. If you already have people that love your company and your brand, don’t just sit there - reward them. These customers have gone out their way to write about you, to tell their friends about you, and to act as your brand ambassadors. Cultivating loyalty from these people early on will yield more returning customers.. Sometimes, just a thank you is all that's needed, but great brands also tend to give more than that. Showing how happy your current customers are with your product certainly helps your sales organization, too, because it shows the positive result of becoming a customer.
Measurement. Watch your return on investment as you implement new campaigns to strengthen your brand. If your brand isn’t resonating with enough people through the campaign, you have not given them a good enough reason to love you. At the start of each new campaign, check your marketing analytics for branded and organic search. If it goes up when you launch your campaign, it means people are hearing about your campaign and becoming interested in your brand.