Some Stats And Facts About Branding
- Successful branding yields benefits such as increased customer loyalty, an improved image, and a relatable identity. (TSL Marketing)
- B2B marketers have consistently cited brand awareness as their top goal over the last five years. (CMI and MarketingProfs)
- The average revenue increase attributed to always presenting the brand consistently is 23%. (Lucidpress)
- 48% of consumers expect brands to know them and help them discover new products or services that fit their needs. (Cube).
A brand lives in every day-to-day interaction you have with your market, and it is more than just a name, logo, or slogan. The brand strategy defines what your brand stands for, a promise you make, and the personality you convey. Every decision and action of your Brand has an impact on your brand. Without a unifying vision, you can dilute or destroy it, either by incoherent messages, ineffective marketing or poor business decisions. You should have a peculiar Strategy for your Brand to avoid common difficulties faced by Companies effectively.
What Is Brand Strategy?
The Brand strategy is a long-term plan for the development of a successful brand to achieve particular goals. It is the articulation of what your brand is and what it wants to be, what its purpose is and how it is communicated to the world. It is a documented plan of the success of the brand.
Why Do You Need Brand Strategy?
The brand strategy helps you to connect your company with the people you assist, with those who serve for it and those who maintain it through their sponsorship. The dynamics of the brand has changed significantly in the last decade. It evolved from a transactional relationship based on product properties to an emotional connection based on standard assumptions and opinions. According to CSR research on convergent communication, in 2017,
87% of consumers said they would buy a product based on the value of the brand.
For brands to soar in success, they must smartly attract and build genuine relationships with people authentically and transparently. But if you, as a brand, do not know who he is and how to communicate with him, you cannot create these relationships. That’s why brand strategy is essential. It is not just about relationships with clients; the brand strategy also promotes to build a better business. A survey “LinkedIn” of 2016 showed that.
85% of the companies with a clearly articulated and understood objective recorded positive growth, and 42% of the companies that did not register a decrease in income.
A brand strategy also helps create a strong company culture and stronger relationships with employees. According to the LinkedIn survey:
73% of goal-oriented employees are satisfied with their work.
Working for a company with a well-formulated strategy and deeply understanding its values and vision, it is more comfortable and more pleasant to work towards achieving these objectives. Unfortunately, according to the Report on the state of the brand as of 2017
Only 51% of employees knew the brand strategy of their company.
It’s All About Brand Strategy
Yes true “It’s all about Brand Strategy” however according to the Brand report of 2017,
21% of respondents did not have the Brand Strategy.
How To Learn More About Brand Strategy
Building a strong brand is an infinitely fascinating topic. Of course, there are many resources. If you want to dig a bit deeper, I particularly like the book The Brand Gap by Marty Neumeier. We are always excited to know your experiences with your brand. Let us know if you have something to share or some useful advice.