If you have been advised to do strategic branding for your business and you are wondering what it is, understand that you are going to face something easy and at the same time, something very difficult.
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A strategic branding consultant will tell you how fast branding rules are evolving. Content marketing, social media, second screening, thought leadership, the younger generation and the demographic shift are only a few of the many factors that are compelling brands to think differently.
Gaining and sustaining customers’ loyalty and trust is tougher than ever before. Developing relationship with consumers was never so challenging with such a huge competition to gain their attention.
Being a trendy, inspiring, relevant, innovative, purposeful and community-centric brand are some of the things that can make people stop, listen and pay attention. Consumers want a brand that they can evolve with, that can earn their trust and can make them feel important. They want to grow with a brand which can give their life a meaning and importance. In short, the brand should become the best friend of the consumer.
Whether you are a small business owner or a Fortune 500 company, following 3 brand strategies will help you become successful in your business.
1. Find Consumer Interest that Others Don’t
While others may focus their attention on the common interests of consumers, you should leave that and find other ways to appeal consumers by becoming creative. The drip-system is a good move, but everything depends on the growth of your brand and the engagement you want to eventually generate with your target audience.
Consumers love surprises and variety. So, don’t be predictable, neither grow complacent. Expand your thinking. But never take your customers for granted and understand that every brand is vulnerable.
This is the reason why you should give your brand a revamp every year (and not every 4-5 years). Don’t forget that consumers reevaluate their requirements more frequently than you may imagine. Rather than responding to consumers’ changing needs, go a step ahead and guide them while they reinvent themselves.
Update your consumer interest strategy otherwise your competitors will do that before you.
2. Form an Easily Relatable Identity
Several times, brands make their UVP (unique value proposition) more difficult so as to attract attention. In their efforts to renew and refresh, they complicate things which is frustrating for their customers as well as shareholders.
A brand identity is the strongest when its value proposition empowers along the lines of the changing lifestyle needs of its audience. Keep things simple. People don’t tend to take time for figuring out what your brand will be solving. They want brands that are straightforward and simultaneously forward-thinking.
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3. Constant Innovation
Innovation is a pretty obvious strategy; but it’s surprising that many businesses fall short of efforts for innovation. It is no longer limited to just introducing new products, technological advances and/or line extensions to empower your UVP.
Today’s market asks for perfect timing and implementation with every new strategy you will introduce. Consumers are interested to know whether you are ready when they are. In other words, your timing should be perfectly synced with your audience’s demands.
Never launch a new product or logo/packaging if your audience is not prepared and/or you are not ready to implement the needs for sustainable success. Once you create your reputation for superiority, your efforts for innovation take the form of a public relation strategy that creates a background for any new product event.
As said earlier, be also prepared for refreshing your strategies every year and not every 4-5 years. This is called rebranding and you can take help of an excellent rebranding agency in Sydney like BrandQuest for example. Branding or rebranding, you need either of them to make your business look fresh and appealing to the consumers always.