Insights on Design, Marketing Campaigns, Influencers, Brands, and Competitive Strategies.
Sept 03, 2024
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What exactly is brand strategy?
Brand strategy, also known as brand development strategy, is a long-term plan designed to achieve a series of long-term objectives that ultimately lead to the recognition and preference of your brand by consumers. A successful brand strategy includes the brand's mission, its commitments to its customers, and how these commitments are communicated.
It is a common misconception that a brand strategy is simply the combination of your logo, color scheme, or website. While these creative elements are crucial to a successful brand strategy, it revolves around all the intangible elements that, over time, drive brand awareness, brand equity, and brand sentiment.
What factors contribute to a successful brand strategy?
The primary objective of a successful brand strategy is to make the world aware of your brand, its purpose, and what sets it apart. A brand strategy is a flexible, long-term plan that often needs to be revisited based on its success (or lack thereof).
Measuring the success of a brand development strategy is not always straightforward. Brand strategies often involve elements that are intangible and not easily quantifiable. When planning this type of strategy, it is important to establish upfront how success will be determined.
Every organization will have its own approach to measuring success, but generally, all strategies will incorporate the same components. Addressing the following questions can be the initial step in crafting a successful brand strategy:
What are your brand's objectives, and how do you convey them? In what ways will your brand solve problems and benefit its intended customers?
How do you identify your ideal customers? Who will benefit from the brand? What are the emotions of these customers and how do they want to feel?
How do you recognize your competitors, who is already providing your potential customers with what they need, and how?
How do you attract potential customers? What personality and tone of voice will your brand adopt to accomplish its objectives?
An additional great example of a successful brand strategy.
Airbnb
Airbnb's success is due to its unique brand strategy of offering a "home away from home" experience.
Airbnb shares captivating stories from hosts and guests on various digital platforms, creating a deeper connection with its audience. This approach builds trust and transparency within its community and is easily shareable on social media. Additionally, Airbnb uses a recognizable red-and-white color scheme to evoke feelings of comfort, security, and cleanliness.
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