Juggling brand strategy and business priorities
Picture these two scenarios.
Scenario One: Your business is all hands on deck developing the newest product.
Scenario Two: Your sales are down and market conditions are slow.
Where would building a brand strategy be on your priorities list?
A company’s brand shapes its image, setting it apart from incumbents and building loyalty.
Developing your brand identity for success
I reached out to expert Personal Brand Coach and Photographer Melissa Martin, to get her views on what makes a well-crafted brand identity and when best to invest in one.
Martin helps entrepreneurs tap into the power of their personal brand so they can close the gap between where they are today and where they want to be.
“Great design and storytelling connects people on a deeper level. When done well, brand and creative strategy transforms how a business operates and how customers engage with it,” shares Melissa.
“Your brand should express the set of values that people come to know you for. In personal branding it’s the relationship you build between you as the leader in your business and your clients.”
Building a consistent brand marketing strategy
Now imagine you’re working on your new products, but your brand marketing is all over the place. Your website says one thing, your packaging says another, and the last published social media post is months old.
Inconsistency dilutes impact, confuses prospects and makes your brand less memorable.
Martin places emphasis on why branding should be present and consistent:
“A consistent brand reinforces purpose and aligns operational activity with the company vision and mission.
“It also helps establish authority, trust and credibility with customers.
“Familiarity builds a relationship between brand and audience, which also makes selling more effective because people know and trust the brand. “
She also offers what I think are golden suggestions worth keeping in mind:
“Brand investment should be informed by what needs improving. My recommendation is to always look for ways to enhance client engagement at the awareness and conversion stages of the funnel.
“Perhaps your funnel experience isn’t entirely seamless and your messaging could be clearer. Do your visuals still represent where you’re going and the value you provide?”
Brand perception: Creating lasting impressions
Brand perception consists of customer emotions, beliefs, and their overall impression of your business.
Can you think of a commercial that makes you laugh or tear up? That’s the reaction that connects you instantly to that brand, often leaving you with a lasting impression.
“Your brand gives you the opportunity to communicate your value and what makes you relatable. A well-known brand does a lot of heavy lifting when conveying the purpose it fulfils, generating demand,” affirms Martin.
“It indicates positioning and calls out to the right target audience.
“Kids toys are a good example. They’re decorated with designs, fonts, colours and messages associated with recognised brands, making them easy to spot. If the branding was neglected there’s not much helping differentiate them from say a dog’s toy.
“The same principles apply when branding businesses. By not developing your brand identity your business implies that you don’t care enough about your product or audience to warrant the investment.”
Rock solid brand marketing strategy
By building a brand strategy, you set the stage for sustainable growth and success.
During the pandemic, UK travel company TUI surveyed customers to understand their perception of travel. Turns out customers wanted to make plans, but they weren’t for fear of losing money if travel was put on hold.
TUI introduced flexible cancellations and co-created cover with AXA to bring back confidence in travel.
It also rebranded with a purpose to create moments that make life richer, tapping into customers’ desire for something less mundane. At a time when most of the world was stuck reminiscing about the good times, this strategic brand move set TUI apart from a sea of travel companies promising memories.
Brand building efforts should remain steady, whether the market is fast or slow, or your product team is head down bum up, working on the next release.
Clarity of purpose is also fundamental. Melissa Martin says it best:
“Start investing in your brand the moment you’re clear on your vision, values and ideal clients.
“Quiet periods are an opportunity to address gaps between brand promise and service delivery. It’s also important to continue to be visible. A brand refresh may be what’s needed to align the business and re-engage your audience.
“So when conditions bounce back and people are ready to buy, your brand will be first on their radar.”
Brand equity: An asset worth investing in
Don’t underestimate the power of brand equity. If you build a brand that customers trust and love, they’ll think of your product when considering a purchase.
They might also be willing to pay a premium. Starbucks for example gets away with charging extra for a cup of coffee because they’re Starbucks.
“Branding contributes to long term business success by resonating with customers and turning them into loyal brand advocates.
“The value of a solid brand compounds so the more trusted and credible it becomes the stronger its position, and the bigger its differentiation becomes over time,” concludes Martin.
