In order for a company to get off of the ground, they will need a brand. Whether engaging a company for just high end custom design services or consulting with a marketing agency, everyone in business talks brands and logos almost all of the time. It appears that a brand can make or break a company depending on the execution.
But is it important to use one?
Ask yourself, “What exactly is a brand? Can it make a world of difference in how far your business will go? How does a brand strategy come into play? And most importantly, what is the difference between brand identity and brand strategy?”
To get to the core answers to these questions, it would be easier to look through the definitions in the simplest of terms.
What is a Brand Identity?
First, what exactly is brand identity? To put it plainly, a brand is the relationship between a company and its target audience. The blog Brandisty says that you do not “get” a brand, but “earn” it.
You must first put in the work before you establish a solid brand. Tronvig Group says that you are not “pushing”, but “pulling” your brand. They also add that a brand stands for what you, as a company believe in, who you are, and what your goals are.
Once you figure out your brand, you have already taken the first steps in giving your business brand an identity in the corporate world.
What is a Brand Strategy?
Secondly, what is a brand strategy? In short, a brand strategy is a long-term plan for developing a successful brand for your company’s goals. This is important in planning future success for your business. A good strategy can mean the difference between success and failure.
Follow these few steps in order to plan a solid brand strategy for a stable future.
For starters, your company has to determine what its goals are before it getting started. Established goals can provide a roadmap in which to follow. Though you may inadvertently veer from the path as things progress, you’ll have a guide to assist you in returning to your plan.
Do not get stuck in the “short-term trap.” The future of your company is at stake here. Short-term goals help, but it’s the long-term that will give you focus.
Also, it helps to be aware; markets flex, trends come and go, technology innovates, the corporate world changes much of the time. Stay current and apprised of change. Don’t get left behind.
How Can Brand Identity Help Drive a Brand Strategy?
How can a brand identity help drive a brand strategy for success? As stated before, you have to have a strong and realistic goal in mind. Brand identity will dictate the goals outlined in a brand strategy.
With established goals in mind, a target audience will form based off of the desired outcome of the goals. Targeting the wrong kind audience happens more often than not. Understanding the buyer persona you want to reach, crafting the right message for them and presenting it effectively will help increase the likelihood of converting them to a customer.
With all strategies, a good amount of flexibility is needed. The current economy moves at a much more rapid pace than at any time in history. Why? Technology develops at an exponential pace. That means development and innovation happen almost on a daily basis.
What worked last month may not work this month. This doesn’t always mean change. It does mean, as mentioned before to be aware of industry happenings and innovations. Consider your options and if it shows promise, be flexible enough to take a calculated risk.
If you know your goals, know your targeted audience, and stay flexible, your brand strategy has an increased chance of providing steady growth for your company.