🚀 Brand Strategy 101: 7 Important Elements of a Company Branding Plan

Jutta Putz — Branding, Brand Strategy

Just as an architect draws out a building plan before they start building, you need to develop a brand strategy for your business. Brand strategy is the backbone of successful businesses, setting them apart from the competition and building lasting customer loyalty.

In this article, we’ll explore the essential elements of a comprehensive brand strategy that will not only make your brand memorable but also position it for growth in the new year and beyond.

What is Brand Strategy?

Brand strategy is the roadmap in your business plan that outlines how your company will build rapport and favorability within the market. It goes beyond logos and products, delving into the intangible aspects that make your brand unique. Let’s break down the key components of a winning brand strategy.

1. Purpose

Your brand’s purpose is more than just making money; it’s the essence of why your business exists. IKEA, for instance, doesn’t just sell furniture; its purpose is to “create a better everyday life.” Dig deeper into your business’s purpose, and you’ll find the distinctive edge that sets you apart.

Key Takeaway: While profitability is crucial, defining a purpose that goes beyond financial success adds depth to your brand and resonates with customers.

2. Consistency

Consistency is the glue that holds your brand together. Every interaction with your brand, from social media to packaging, should reflect a cohesive message. Take Coca-Cola, for example; its commitment to consistency across all platforms has made it one of the most recognizable brands globally.

Key Takeaway: Create a style guide to ensure consistent messaging, from the tone of voice to the color scheme, fostering brand recognition and customer loyalty.

3. Emotion

Customers are not always rational; emotional connections drive purchasing decisions. Harley Davidson, through its community-building approach, taps into customers’ desire for belongingness. Connect with your customers on a deeper emotional level to strengthen relationships and foster loyalty.

Key Takeaway: Identify emotional triggers related to your brand, such as providing peace of mind or a sense of belonging, to create lasting connections.

4. Flexibility

In a rapidly changing world, flexibility is key. Old Spice’s transformation from a brand associated with dads to a popular choice for a younger generation showcases the power of strategic flexibility. Don’t be afraid to adapt your approach to stay relevant.

Key Takeaway: Be open to change and explore creative campaigns to distinguish your brand and engage both new and existing customers.

5. Employee Involvement

Consistency extends to your employees; they play a crucial role in representing your brand. Zappos, known for its playful brand image, ensures that its employees embody the same values across all customer interactions.

Key Takeaway: Align your employees with your brand values to provide a cohesive experience and build a strong reputation for excellent customer service.

6. Loyalty

Rewarding existing customers fosters loyalty. Acknowledge and appreciate those who love your brand, whether through a simple thank-you or personalized gestures. HubSpot’s creative celebration of reaching 15,000 customers exemplifies the impact of loyalty on brand image.

Key Takeaway: Cultivate loyalty early on, as satisfied customers become brand ambassadors, driving future business.

7. Competitive Awareness

View competitors as a challenge to improve your brand strategy. While staying informed about their tactics is essential, ensure your uniqueness doesn’t get lost in emulation.

Key Takeaway: Learn from competitors’ successes and failures, but let your brand’s unique identity guide your strategy.

Branding Methods

Beyond the elements of a brand strategy, consider different branding methods to enhance your brand’s identity:

1. Attitude Branding: Associate a feeling or attitude with your brand, as exemplified by Nike’s ‘Just Do It.’
2. Individual Branding: Give a product or service a unique identity, like Unilever with its distinct divisions.
3. Product Branding: Associate a logo, name, and design with a product to create a unique identity, as seen with Apple’s MacBook offerings.
4. Co-Branding: Combine identities of different brands for a fused brand, as witnessed in the Nike and Michael Jordan collaboration.
5. Minimalist Branding: Use simplicity to create brand recognition, as seen with Mastercard’s iconic circles.
6. Brand Extension: Leverage an established brand name for a new product, as companies do to capitalize on existing brand equity.

The Importance of Strategic Branding

In an oversaturated market, strategic branding is your lifeline. By highlighting what makes your brand unique, you future-proof it, differentiate it from competitors, and communicate that distinctiveness to customers. This, in turn, strengthens your selling power, brand value, and customer loyalty.

As we step into the new year, let your brand strategy be the driving force that propels your business to new heights. Define your purpose, maintain consistency, evoke emotions, embrace flexibility, engage employees, cultivate loyalty, and stay competitively aware. Here’s to a year of thriving brands and endless possibilities!

🚀 #BrandStrategy

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