When developing a branding strategy, your first task is to determine where your business sits in the marketplace. That’s because branding is the creation of a singular expectation among a targeted audience that your offering will deliver a unique and meaningful benefit.
This focus on creating a compelling point of difference for an offering presents businesses with two different options for your brand:
Promote a “difference of kind" or Promote a “difference of degree.”
A brand is the visual, emotional, rational, and cultural image that you associate with a company or a product. Here are some well-known branding examples.
When you think Volvo, you might think safety. When you think Nike, you might think of Tiger Woods or "Just Do It." When you think IBM, you might think "Big Blue." The fact that you remember the brand name and have positive associations with that brand makes your product selection easier and enhances the value and satisfaction you get from the product or service.
Developing a Strategy
Other Brand Strategy Resources
The best way to build a brand is from the bottom up. So think of your business as an iceberg.
Start “under the waterline” with your brand strategy. Because your strategy—the foundational elements of your brand—is below the waterline, these are all-important aspects of your brand that most people (your customers, prospects, and supports) will never see. But these strategies inform everything that is above the waterline: all the aspects of your business that people DO see.
DIY is great, but if you'd rather spend time working IN your business rather than ON your business, we can help!
Contact BrandXcellence today and we'll help you with a free brand assessment and get you on the right brand path so you can experience better marketing results.