Apart from the financial management of your business, one of the most important aspects you should focus on is brand strategy and planning. Your brand is doubtlessly the most precious asset of your company. A powerful brand creates trust and integrity, both elements crucial for turning leads into sales.
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Without a focused brand strategy, no matter what and how much efforts you take for lead generation, in the long run, you WILL NOT get a sustained sales channel.
Where to Start?
Before you waste your time and money on trying for online marketing, advertising and sales, you should get a brand strategy as well as a strategic marketing plan developed by a leading marketing strategy company like BrandQuest.
Difference between a Brand Strategy and Marketing Plan
Brand strategy is concerned with knowing about the environment and having options about your offer and how you let your customers know this.
Marketing plan on the other hand is about having options about actions and also using resources available to follow the decisions taken within your strategy.
Creating Branded Solutions Rather Than Branded Products
A common problem with brand marketers is that they build your brand or brand identity by what you sell instead of what your customers actually need.
Consumers buy a product for various reasons. Be sure that you know your target audience and their needs before you start promoting something that people don’t need.
It’s important to understand just at the beginning:
- Who your customers are
- What problems they are facing
- The value you can offer by offering a product or service
De-commodify Your Product
Learn de-commodifying your product. Plan something that is distinct and will differentiate you from others. Try to package your offer into something that customers will love.
Developing a Brand Strategy and Plan
To start the development of your brand strategy, it’s advisable to break the process into certain phases.
Phase One: Developing a brand strategy and aligning it with your business objectives.
- Define your business strategy
- Study your target audience
- Define your consumer
- Build your brand positioning and messaging
- Define marketing objectives
- Build your content marketing objectives and strategies
- Build your sales tools
Phase Two: Build all the toolkits you will require to support the communication and marketing of the brand
- List your technology and infrastructure needs
Phase Three: Refining, strengthening and adding a finishing touch to your brand strategy and marketing plan
- Execute, analyse, track and refine
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Have Done Branding Already? Maybe You Need Rebranding
You may need rebranding in two cases. Once when your previous brand strategy was a failure and once when it was successful but now has become outdated. Rebranding can be done by changing any or all the elements of your business. For rebranding in Sydney choose BrandQuest.
You can rebrand in two ways – pretty obviously or very subtly. Most of the times, subtle changes become more successful. Take the example of Coca Cola. They do slight changes to their logo, packaging and other marketing strategies every year. People notice them but are not shocked with them. They actually love the freshness these changes bring to the brand and the brand gets a new life with every rebranding.
Brand strategy is an extremely important procedure you should undertake. If you have already undertaken it but have not been successful, you can rebrand your company. However, building the desired reputation of your brand is essential for your company’s survival. Therefore you should create a killing brand strategy if you want your business to survive and flourish in the long run.