Sep 12, 2011

Fundamental steps in Developing Branding Strategies

  1. Define basic brand architecture; it commence from the core purpose, vision, mission, position, values and character. Organization always focuses on what it does best and then communicated its inimitable strengths through consistency.
  2. Well Define Business Model of Brand; supports and challenge business model to maximize the potential within different brands health. Think of personal brands like Oprah. Brands that practically built their business models they stand right on top due to their personal branding strategies. Everything they offer is ultimately an extension of their brand promise.
  3. Consistency; in brand message it is the key to differentiate it from rest of clutter. Organizations must position its promises on every reference point for everything that they can do. Like BMW has always been known as the “ultimate driving machine.”
  4. Implement Inside-out strategy; everyone in the company can tell what they see, think and feel about company’s brand. That’s the story company should bring to the customers as well, drive impact beyond just the walls of marketing. That’s how companies empower employees to strengthen their consumers’ perception on its various brands.
  5. Emotional level in branding; a brand is not a name, logo, website, ad campaigns or Public Relations; those are only the tools not the brands. A brand is a desirable idea manifested in products, services, people, places and experiences. Starbucks created a third space experience that’s desirable and exclusive so people would want to stay and pay for the over-priced coffee. Today people demand something that satisfies not only their physical needs but their emotional needs and their need to relate themselves to a specific brand.
  6. Be Relevant and Flexible; a well managed brand is always making adjustments. Branding is a process, not a race, not an event so expect to constantly tweak company message and refresh its brand image. Successful brands try to reinvent themselves by being flexible which enhance their image to be more savvy and creative.
  7. Empower Brand Champions; Award those that advocate company brand to help drive the message, facility activities so they can be part of the process. If brand advocate doesn't tell what should or should not be doing, it’s time to evaluate company’s brand promise. At the Apple retail store people can see how passionate their employees are about Apple. For them their rules and regulations are a lifestyle and a culture.
  8. 8) Return on Investment, Inputs and Profitability; Focus on the ROI return on investment is the key to measure the effectiveness of brand strategies. Often times it is how well an organization could be to execute the strategies. It could also be reflected in brand valuation map or how customers react to company product and price adjustments. Ultimately it should resonate with sales and that means profitability. But don’t just focus increasing sales when brand could be getting a profit boost by reducing overheads and expenses as well. Give brand different options to test different marketing tactics, make sure they fit brand authenticity and align with company business strategy.

No comments:

Post a Comment

Latest Tweets about Marketing

Popular Posts