Updated: Nov 11, 2020
In the following article I will explore the importance of Brand Strategy. Using some real examples from my own experience in Brand Management to illustrate the impact it has on not only converting customers but retaining them in the long term.
If someone asked you what your “Brand “stands for, would you be able to define it?
Perhaps you have a well-rehearsed tag line or sales pitch that you use, or you may describe your best-selling product or service.
Whichever you choose to use, does this truly reflect your business and what it stands for?
More importantly would a prospective customer form the same impression of you when they come into contact with your business?
Before we explore how your Brand can impact your business, let’s first try to define what a Brand is.
A Brand by definition is what makes us stand out from others. First defined as such in farming when they used branding as a way to differentiate cattle from one another. Dating all the way back to around 2700BC (Wikipedia).
This term gradually became associated with how companies market themselves against their competition. In the early days this was still considered to be primarily linked to the name, the logo, the packaging etc... All the tangible, visible elements associated with how a company presents its products to the public.
As market conditions evolved in the digital era, customers gained more exposure. They now have a world of choices at their fingertips. In turn making them more savvy and demanding in their expectations.
It stands to reason that Brand perception has also evolved to be something that is much more difficult to define. For the most part this is due to the realisation that it is more intangible than we previously thought.
Of course the elements I mentioned above still hold paramount importance for brand recognition. Yet what is even more important are the feelings and emotions that your brand evokes.
The two key drivers for sustainability in any business are new business and customer retention. In the first instance they are drawn in by your brand positioning, and in the second by their experience with it.
These intangible emotions develop over time through every interaction a customer has with your Brand. The visual appearance; the content in your marketing; your company ethics; customer service; right the way through to delivery and complaint handling.
Let’s explore these 5 scenarios where branding is often overlooked, yet the impact is evident: (scroll through the following box to see each problem, the impact it had and considerations that should be made).
We have all had personal experience of one or all these scenarios within our own personal lives. We know how this affected our decisions to buy and what choices we made as a result.
When you are implementing any changes to the business you should always take a step back. Consider it from a customer’s perspective, new or existing. Take a walk in their shoes and identify the areas that you need to improve.
Mystery shopper experiences are a great tool to use for this. You get a completely objective, impromptu inspection of how well your brand delivers against its core values.
Remaining consistent, reflecting authenticity and company values in everything you do is key. With this you are better placed to build a strong brand that customers will want to engage with time and time again.
Image by Peggy und Marco Lachmann-Anke from Pixabay