A branding strategy is a long-term plan that aims to develop your brand in a way that dovetails with your business plan. It will define rules and guidelines on how, what, where and to who you communicate your brand messages. A well-defined brand strategy will result in a consistent brand message and a strong connection with your audience and customers whilst differentiating your business from competitors.
Brand strategy is often confused with visual branding (logo design, colour palette and marketing collateral) or brand messaging (the tone of voice used in your marketing communications). However, a good brand strategy goes deeper than this and tackles the underlying personality that forms the foundation of your brand. Think of the difference between Virgin Atlantic and British Airways in the airline industry, both convey a very different set of values and have carved out a niche for themselves amongst their competition.
What is the Importance of Brand Strategy?
Branding strategy is one of the most crucial elements of any successful business. If you create a great strategy you can generate customer loyalty, increased sales, a good reputation and a good position in the market. A strong brand strategy is a must if you want to reach your goals consistently. It also provides clarity about the competitive landscape, market positions and customer expectations. Without a brand strategy, it is easy to make decisions that jar with your overall value proposition and present a confusing picture to the outside world