What is Brand Strategy: Critical Planning to Grow Your Business
NewPoint Marketing is a marketing firm that specializes in helping food and beverage brands with their marketing and branding strategies. We offer a range of services that are specifically
designed to help these types of brands succeed in a highly competitive industry by answering the question: What is brand strategy?
Brand strategy is a long-term plan for building and managing a brand to achieve specific business objectives. It involves a set of actions and tactics that a company takes to differentiate its brand from competitors, establish a unique brand identity, and make an indelible mark in the minds of consumers.
At its core, brand strategy is about creating a consistent and cohesive message across all brand touchpoints, from the brand’s visual design to the messaging used in advertising, marketing, and other communications. It is a critical part of business strategy that helps companies establish a strong brand image, build customer loyalty, and drive business growth.
So what is brand strategy? To understand in more detail, let’s explore some key components of a successful brand strategy:
- Brand Positioning: Positioning a brand refers to the act of developing a distinct identity and value proposition for your brand in the minds of consumers. It involves identifying your brand’s key benefits and attributes and communicating them in a way that resonates with your target audience. For example, Apple positioned its brand as a premium, innovative brand that offers high-quality products and excellent user experience.
- Brand Identity: Brand identity is the Your brand’s identity is the sum total of all the visual components, or visual representation, of your brand, including the brand logo, fonts or typography, your brand’s color palette, and other design elements. It is a critical component of brand strategy because it helps create a recognizable brand image and differentiate your brand from competitors. For example, Coca-Cola’s iconic red and white logo is instantly recognizable and helps create a strong brand identity.
- Brand Messaging: Brand messaging is the language and tone used to communicate your brand’s values, benefits, and unique selling proposition. It includes the messaging used in advertising, marketing, and other communications. Effective brand messaging is clear, concise, and consistent across all touchpoints. For example, Nike’s “Just Do It” campaign is a powerful example of effective brand messaging that resonates with its target audience.
- Brand Architecture: Brand architecture refers to the organization of a company’s portfolio of brands, products, and services. It involves creating a hierarchy of brands that helps customers understand the relationship between different offerings. For example, Procter & Gamble’s brand architecture includes multiple brands, such as Tide, Pampers, and Gillette, organized under the P&G corporate brand.
- Brand Extension: Brand extension is the process of leveraging an existing brand to introduce new products or services. It allows companies to capitalize on the strength of an existing brand to enter new markets or expand their offerings. For example, Google’s brand extension into hardware with products like the Pixel phone and Nest smart home devices leverages the company’s strong brand recognition in the technology industry.
- Brand Experience: Brand experience refers to the overall experience that customers have with a brand. Everything from the quality of the products and services to the interactions customers have with the brand’s representatives is a part of this. A positive brand experience can create a strong, lasting customer and build on loyalty and advocacy, while a negative experience has the potential to damage your brand’s reputation. For example, Disneyland is known for providing a magical, immersive experience that creates a solid emotional connection with customers.
- Brand Monitoring: Brand monitoring involves tracking and analyzing the way your CPG (consumer packaged goods) brand is perceived by customers, competitors, and the broader market. It includes monitoring social media mentions, customer reviews, and other online conversations to understand how customers interact with your brand. This information can help food and beverage organizations make informed decisions about their brand strategy and identify areas for improvement. For example, Airbnb regularly monitors customer feedback to identify areas where it can improve its brand experience and address customer satisfaction issues.
- Brand Protection: Brand protection is a full-time job, the process of safeguarding your brand from threats like infringement and counterfeiting. It involves registering trademarks and other intellectual property, monitoring for unauthorized use of brand assets, and taking legal action when necessary. For example, Louis Vuitton is known for aggressively protecting its brand image and trademarks from counterfeiters and unauthorized use.
- Brand Storytelling: Brand storytelling is a technique used to create an emotional connection with customers by telling a compelling story about the brand’s history, values, and mission. It helps customers identify with the brand on a deeper level and creates a sense of loyalty and advocacy. For example, Patagonia’s brand storytelling emphasizes its commitment to environmental sustainability and social responsibility, which resonates with its target audience of outdoor enthusiasts.
- Brand Partnerships: Brand partnerships involve collaborating with other brands or organizations to create mutually beneficial marketing campaigns or products. They can help a brand reach new audiences, build credibility, and strengthen its brand image. For example, Nike’s partnership with Apple to create the Nike+ app and fitness tracking devices combines the strengths of both brands to create a compelling product for fitness enthusiasts.
So, what is brand strategy but a critical component of business strategy that helps companies grow their business. A successful brand strategy involves a combination of brand positioning, identity, messaging, architecture, extension, experience, monitoring, protection, storytelling, and partnerships. By taking a strategic approach to building and managing their brands, companies can differentiate themselves from competitors, create a lasting impression, strive for brand affinity in the minds of consumers, and achieve their business objectives.
It is important to note that brand strategy is not a one-time event but a continuous process of refinement and adaptation. As markets and customer preferences change over time, companies must be willing to evolve their brand strategy to stay relevant and practical. By staying attuned to their customer’s needs and preferences and being proactive in their approach to brand strategy, companies can build lasting relationships with their customers and achieve long-term success.
Overall, NewPoint Marketing helps food and beverage brands to develop a strong brand strategy that differentiates them from competitors, attracts and engages customers, and drives sales growth. Please contact us to learn more!