Why is Brand Strategy necessary and what if you don’t have one?
Firstly let’s start by understanding what exactly is Brand Strategy.
Brand Strategy is a Roadmap for your brand for the next 10 to 15 years (minimum) or maybe for your entire life if you don’t plan to change the concept entirely. It is like a guideline for you and your team to stick by and to refer to any time you plan to take any big or small decision right from launching a new product to raising funds to expansion of the company.
It acts like a book of values and morals for your brand just like bible or kuran for us Humans.
Now that you know what is Brand Strategy; let us talk about how it will help you or why is it so so necessary to invest into Brand Strategy.
- Helps you dig deeper into your brand: Helps you know why your Brand exists, what problem is your brand/product trying to solve, what emotion is your brand trying to convey, how is it making your audience feel.
- Helps you understand your Audience, Market, and Competition: Gives you an insight into your audience’s mind, wants, needs and desires and conditions of the market and understand the level of competition that needs to be tackled.
- Saves you a lot of Money on Marketing: Targeting the correct audience and understanding their language and their needs makes it easier for you to sell them your product or the emotion of your brand saving loads of money on unnecessary medias / marketing experiments.
- Keeps you on track making growth-related decisions simpler: Helps you make wiser decisions towards investments, growth, new launches, finances, and marketing.
- Makes your Brand Look Confident: When you feel confident from the inside, you will automatically look confident outside, it is the same for your Brand when you have a strong foundation, the confidence will reflect outside making your audience trust you better.
- Provides Stability and Consistency: Brand Strategy acts like a guideline for you and your company, it keeps you in check if you are following the rules (brand fonts/colors), sticking to your roots (sticking to brand values), etc helping the brand increase its recall value.
The correct time to have a strategy is before you begin your logo design and just after you have named your brand or even before naming your brand. That is because it helps you build a strong foundation and building a brand on it becomes easier. This strong foundation will help you save a lot from spending on the wrong marketing media and campaigns.
No worries; if you have realized a little late that you need a Brand Strategy you can still get it done, because better late than never!