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Brand Strategy 101:Marketing Strategy
What is Brand Strategy?
Brand strategy is a plan that encompasses specific, long-term goals that can be achieved with the evolution of a successful brand — the combined components of your company’s character that make it identifiable.
A well-defined and executed brand strategy affects all aspects of a business and is directly connected to consumer needs, emotions, and competitive environments.
Your brand is not your product, your logo, your website, or your name.
In fact, your brand is much more than that — it’s the stuff that feels intangible. But it’s that hard-to-pin-down feeling that separates powerhouse and mediocre brands from each other.
1) Purpose
“Every brand makes a promise. But in a marketplace in which consumer confidence is low and budgetary vigilance is high, it’s not just making a promise that separates one brand from another, but having a defining purpose,” explains Allen Adamson, chairman of the North America region of brand consulting and design firm Landor Associates.
How can you define your business’ purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- Functional: This concept focuses on the evaluations of success in terms of immediate and commercial reasons — i.e. the purpose of the business is to make money.
- Intentional: This concept focuses on success as it relates to the ability to make money and do good in the world.
Company Strengths at a glance
7 Steps for Marketing on a Budget
- Create a persona to understand your audience.
- Develop an identity and voice for your brand.
- Begin to map out a consistent social media presence.
- Start a blog on your website.
- Make customer service a priority.
- Take advantage of co-branding.
- Host a masterclass or webinar.
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