Here at OBabsDESIGN Studio, we know how important it is to prioritize. As a digital startup, we have to focus not only on building brand development strategy of a product that is innovative and transformation, but also on establishing our voice and framing how we want our company to be perceived. All too often, branding is not viewed as a top priority for startups, and understandably so since it is easy to view the product itself as the most important priority. In reality though, having a brand strategy is important for a company of any size. Now when I say branding, I don’t just mean a name, logo, and color palette. True, those are the things people often think of when they hear the term “branding,” but they in fact constitute the bare minimum of what your brand should represent. So what is actually encompassed in a brand strategy?
What is brand strategy?
A branding strategy (a.k.a. brand development strategy) is the long-term plan to achieve a series of long-term goals that ultimately result in the identification and preference of your brand by consumers. A successful branding strategy encompasses the brand’s mission, its promises to its customers, and how these are communicated.
Often misconceived, a branding strategy is not the sum of your logo, color palette, or website; though these creative elements are integral to a successful branding strategy. A branding strategy revolves around all the intangible elements that over time drive brand awareness, brand equity, and brand sentiment.
Why do I need a brand strategy?
1. United
Branding links your name, logo, online presence, product/services and appeal to the masses. Make marketing skills consistent and the content the same across all channels. This brings a united and clear message to customers, future partnerships and their competitors.
2. Asset
A brand is an asset. What you present to the public is a huge chunk of your business. The worth is just as much as revenue and sales. A lot is at stake; finances, creativity and time is on the line. Branding will make the difference between revenue/sales and debt/liquidation.
3. Sales
Speaking of sales, branding will create sales and revenue for your business. You will make money based on how the branding marketing strategies work out. Customers will be tempted to test you out, and your results will determine if you make more sales.
4. Deliverance
Branding is a proclamation. You hereby state that you will deliver on your promises and claims the company makes. Everything the company stands for should be spread throughout the organization too. Otherwise the company will be disconnected and customers will be confused and grow distant. If you are not willing to make promises you can’t keep, don’t state it on your brand.
5. Perception
Branding gives companies a chance to let customers see the business for who we really are. This is the chance to be honest and open about what this company represents. The look, feel and message conveyed will separate you from the pack.
6. Preference
People are more attached to companies with a brand than companies that doesn’t. Brands create a bond filled with good memories and good times, and customers will never forget it. That connection can’t be strategized; it just happens.
7. Loyalty
A good brand development strategy will create customer loyalty. Loyal customers will continue to support you in good and bad times. They will spread a positive message to people they know. Their influence will introduce new people to your company.
8. Trust
As customers get to know your business they will begin to trust you. In order to build trust you must give customers a reason to test you out and be happier. The branding must be spot on as the first customers will determine how many more (or less) you will receive. Exceptional customer service, experience with the product/services and positive online communication on social networks will keep them coming back for more.
9. Extension
Branding can reach so many people in so many outlets. It reaches people offline, online, mobile and niche markets. It reaches the many products and services you currently sell and plan to sell in the future.
10. Protection
Branding protects you from competitors who want your success. Without it they will have no problem making copycats of what made you popular and claim it for themselves. They can carry the same or similar products but they won’t be able to take your style and originality away.
Your brand is the identity customers come to know. The importance of branding with your business cannot be overstated. Branding is how customers perceive you and the blueprint of the business. May your brand be the symbol of happiness, comfort, loyalty and lasting impressions? Company branding usually begins with a new company logo. Quite often, companies don’t realize the importance of properly branding their company. Let us help you brand your company properly.