A brand strategy aligns your business with your ideal customer. And it also explains why your company exists aside from just making money. In this blog post, I’ll discuss why brand strategy is so important for your business.
A customer’s emotional bond with your brand motivates them to choose your product(s) over your competition.
The reason why customers have this emotional bond is because they trust your brand. By having this connection, your customers are more willing to purchase from you again and will likely recommend your brand to their friends and family.
However, having this emotional bond with your customer is not by accident. This connection is because of your brand strategy.
At our studio, every project starts with brand strategy because we believe we cannot create a successful brand without knowing who your customer is.
During the brand strategy phase, we will have an in-depth two-hour workshop that goes over who your customers is, outside of their demographics.
Here are just a few things that we will uncover:
• Your customer’s goals
• What keeps them up at night
• The challenges that they are facing
• What your customer dreads & what lights them up
• Your customer’s dreams
After the workshop, I will spend the next week researching your brand and customer to create a brand strategy that will form an emotional bond with your customer.
The term “sea of the same” refers to the fact that all brands in a particular industry look the same and blend in with one another.
The goal of setting your business apart from your competition is it allows customers to remember your business and gain more brand recognition.
In order to set yourself apart, first, you need to understand the gaps within your industry. Once you’ve distinguished the gaps, you can create solutions that align with your customer.
For example, Alohas saw that customers wanted higher-quality, more sustainable products. As a result, they launched pre-orders. Pre-orders allow buyers to purchase products at a discounted price and have them shipped once they’ve been made. Doing this provides for more cautious buying and less overproduction of goods.
By understanding who your customer is, you’d be surprised at how quickly your business could flourish.
Because instead of focusing on trying to connect with everyone, instead, you can focus your attention on building lasting relationships with your customers.
Another way you can grow your business is through the perceived value of your product.
An example of perceived value would be a customer who spends thousands of dollars on a Dior bag when a Kate Spade bag would cost them a couple hundred. Both brands make quality products. However, Dior has built a reputation that they sell luxury products, and customers are ok with paying the premium prices.
Brand strategy lays down a strong foundation and ensures that your messaging is consistent.
Brand consistency helps to build brand recognition, which leads to increased customer loyalty.
At our studio, we give our clients a Brand Guidelines Book after we’ve finished their project. The Brand Guidelines will include everything from typography to how to use your logos. This allows our clients to use their new branding confidently.
Hopefully, this blog post has shown you why brand strategy is so important for businesses.
If you are interested in learning more or seeing how our studio could support you and your business, you can set up a free discovery call by clicking here.