We’ve heard it many times, but there really isn’t any other way to put it: Brand strategy development plays a fundamental role in the marketing process. It is for this reason that companies continue to place a significant amount of time and effort into this facet, making sure that the formulated brand strategies are sound and effective. Brand marketing strategy requires hard creative work, but it’s a price worth paying. In this article, we help you grow your theoretical knowledge on brand marketing strategy.
While planning is important, brand strategy development involves a lot of implementation. To effectively implement planned strategies, a business needs to know the backbone of every brand strategy development, and that is theoretical understanding. Let’s begin with the three main components of a business.
Beyond stakeholder’s satisfaction, purpose is a marketing concept emphasized in marketing communities as part of a holistic and inclusive marketing strategy. In 2009, Spence and Rushing, in their book entitled It’s Not What You Sell, It’s What You Stand For?, mentioned that the special secret of outstanding businesses is purpose. Compared to any other for-profit entity, purpose-driven companies are more likely to grow their market and outperform themselves consistently.
One of the most highlighted concepts in integrated marketing is message consistency. It is deemed important for consumers to perceive a consistent brand image, albeit communicated through different platforms. This is a concept supported by effective integrated marketing communications. This involves, but isn’t limited to, message repetition and elaboration, which allows for the consumer to be exposed to the brand message at least twice.
Outstanding businesses do not aim to be liked. Instead, they aim to be loved. EARN Studios Founder, Jamal Benmiloud, in his article called Why Be Liked When You Can Be Loved?, highlighted that “in an ever-changing society, the most powerful and enduring brands are built from the heart”. Although it sounds cheesy and might not fit into a brand marketing strategy manual, there is logic in putting importance in the tenderness that allows for consumers to emotionally connect with a particular brand image and messaging. Once a consumer believes, connects, and identifies with a brand, every action is influenced afterwards.
These business components will be the basis on how to align a business’ marketing components. Instead of looking at these four components individually, a brand marketing strategist should be able to analyse by looking at these four as parts of a whole and that each factor is closely intertwined to the other. From the identification of the target consumer, to finding a unique positioning for your brand among competitors, while in consideration of your business’ purpose, consistent brand message, and emotional connection with its market will all go into play.
The Four Marketing Components:
- The consumer
- The competition
- The product and service mix
- The unique selling proposition
Branding is generally considered confusing and secondary priority by senior executives because it is difficult for them to see the tangible benefits. Without a brand marketing strategy, a business’ marketing process would be like a playground where “anything goes”. Even for small businesses, this can be a dangerous position. Now that you have a more in-depth glimpse of it, what effective strategies can you create to make your business standout?