When it comes to better brand strategy, you could learn a lot from the ghosts of businesses past.
Many companies–like Blockbuster, JCPenny, and countless others–either fall short in their branding strategies or are too late to catch up to the big names in the industry. A strong, innovative brand strategy is the difference between being Blackberry and being Apple.
Branding rules have evolved over the years.
To truly succeed requires you staying ahead of the game; merely being in the know means getting left behind and could spell the demise of your company.
Businesses have to consider the all ways in which you can reach the consumer, and who the consumer is. Today’s brands must thinking outside the box. They must consider a more “total” picture, whether it’s incorporating social media into a branding campaign, content marketing, thought-leadership, or targeting the coveted younger demographic.
Every business wants their brand to be on-trend, inspiring, and revolutionary, but many are missing opportunities that make a brand personally meaningful to the consumer. Here are three effective, yet simple, ways of perfecting your brand strategy.
Seize Opportunities to Engage in New Ways
The modern consumer is practically begging for a brand who will grow and evolve with them, one that become a crucial part of their lives in the same way that social media is now ingrained into our day. The business that can identify a novel, fresh approach is the one that will standout.
Beyoncé released her last album almost a year ago. Do you remember seeing advertisements for it?
That’s because there weren’t any. Completely without warning, Beyoncé released a new album, complete with accompanying music videos, to iTunes in much the same way that an artist would release a single, and the music industry is still feeling reverberations from her unprecedented move.
Music sales, and particularly whole albums, have been at a record low for a couple years now.
It was previously thought that the sales of an album would depend mostly on the amount of promotion done in the months leading up to release, but Queen Bey turned that idea on its head completely. With sales topping those of Katy Perry and Lady Gaga combined, Beyoncé started what seems to be a trend as Pharrell and Kid Cudi also released surprise albums in the months that followed, and both albums performed fairly well.
Strive to Be a Brand Platform
If you want your brand to pack the most punch, strive to make your brand one that can influence lifestyles, that inspires hope or action, that has some sort of impact on the consumer’s state of mind. Brands that aren’t just a product, but also a platform are the ones that become incorporated into everyday life.
You must identify and perfect your brand’s user experience (UX), which is the sum of the consumer’s interactions with your brand’s products or services. Then think of ways in which you can expand your product, your company, and your image into uncharted areas of the UX. Consider the immediate benefits of loyalty to your brand, but also how that could become part of a lifestyle.
Target has an excellent brand platform.
When you think of a Target store, you probably don’t think of any one product, but rather all sorts of things you could purchase from any of their locations. Target’s A Bullseye View could be seen as growth of that brand into a full platform. After purchasing their products, A Bullseye View gives customers supplemental information, such as things to do with their products, other products to try, details on their biggest promotions and popular products, and is marketed as Target’s “behind the scenes” for customers.
Content marketing can be a bit precocious, but this is an excellent example of how a brand could grow into a brand platform. Incorporating your brand into a platform could be the difference between being a brand that’s coveted and being a brand whose products or services are used as a matter of necessity.
Even a business whose numbers are high and growing has to be always looking for new ways to innovate. When it comes to today’s free market, complacency is the enemy.
If you develop a fresh approach that’s engaging to your existing customers and also getting you new ones, this is a result that you’ll need to replicate year after year.
That might sound intimidating and like quite a tall order, but it’s not all bad. Although you should be continuously innovating your brand, there is an end game to all this…
With steady innovation, your brand will develop a reputation for excellence.
You want your brand to be the first that comes to mind when customers consider purchasing that product. Consider what sets your offerings apart from those of your competitors, what makes your product better and more beneficial than the others.
Those are the aspects you want the consumer to know about so they’ll buy from you instead of someone else. Look at Apple. Apple is synonymous with cutting-edge and innovation.
Any device with that half-eaten apple on the back practically sells itself before it’s even released. That’s because much of Apple’s success comes less from their actual products and more from the reputation they have acquired with years of forward thinking and anticipating the market. It’s a brand model to which all companies, regardless of what products they offer, could and should aspire.
Stack Your Strategy
Each of these strategies is as important as the others. In tandem, they can all but guarantee that your company and brand become an industry leader rather than one that dies and disappears.
Today’s consumer wants to feel a connection to a brand. They want to feel like a brand is important to them and will enrich their life in some way.
With these steps in place to perfecting your brand strategy, your brand will be on its way to being the engaging, innovative platform that consumers everywhere want and need.
© Copyright: 2017 Peter Spann – All rights reserved