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Every brand strategy serves one goal: communicating your brand to anchor it in the minds of your target groups for the long term. When implementing a brand strategy, the digital revolution dictates our actions. Even companies that have not prioritized digitalization are moving in this direction.
But does the term "brand strategy" mean? What are common brand strategies? And how do you develop a brand strategy? Find the answers in this blog post.
Before you start wracking your brains about the best brand strategy, first examine the word itself. Here is a definition from the Gabler Business Dictionary:
"Conditional, long-term and global behavioral plans to achieve brand objectives."
So brand strategy focuses on solidifying your brand identity and communicating it consistently across all channels. But why do even global mega corporations still find this so difficult?
The answer often lies in the complexity of corporate structures. The more diversified the markets a company serves, the more departments have to coordinate when it comes to brand communication. Unfortunately, this rarely works without well-founded brand management software.
Usually, a new product or the modernization of an existing brand system requires a new brand strategy. Keep in mind that a brand strategy is a longer-term endeavor. As a rule, it can take three to five years to implement. Also keep in mind that markets constantly evolve. You need to continuously measure, analyze, and possibly adjust your brand strategy.
Several steps will give your brand strategy a solid foundation.
Define your brand's value proposition. Find out what your brand stands for and what added value it offers. Company values, goals, and key product features form the foundation of your brand identity. Corporate design and style guidelines need to capture this identity and communicate it as part of your brand strategy, both internally and externally.
This part of your brand strategy is based on both brand perception and brand identity. On the one hand, you need to make your brand stand out and differentiate it from the competition. On the other hand, you need to make your brand visible to all consumers. You want to transform your brand into a "love brand".
Put the theoretical parts of the brand strategy into action. Use every channel at your disposal. Be sure to communicate your brand consistently, clearly, and uniformly - from letterheads to email signatures to PowerPoint slides. Integrate brand strategy into the workflows of all employees.
Continuously monitor the impact of your brand strategy. This is the only way to determine whether and where it gains traction, or whether it needs to be adjusted. Key performance indicators include:
Brand management software solutions such as our MS Office add-in suite empower® play a decisive role in enabling uniform brand communication. empower® ensures that your corporate design is adhered to throughout the company, and also reduces workloads many times over.
Learn more about brand management with empower® and contact us. We would be happy to help with your brand strategy.