What is a brand strategy?
A brand strategy is a plan created to determine and improve the value, positioning and perception of your brand. A brand strategy includes the objectives and tactics needed to increase your brand's brand awareness, brand loyalty and competitive advantage.
It is a targeted strategy to market your brand and let others know you exist.
The elements of a brand strategy
A powerful brand strategy contains several indispensable elements:
- Brand identity: define the visual and verbal elements of your brand. Think about your logo, slogan, brand colors and your typography.
- Positioning: determine how your brand positions itself in relation to the competition and how you want to present yourself to your target audience.
- Brand values: establish your brand's core values and how they are communicated.
- Target audience: determine who your target audience is and how to approach them.
- Communication: determine how your brand communicates and presents itself to your target audience.
Why is a strong brand strategy so important?
A strong brand strategy is critical for companies seeking to stand out in a competitive marketplace. By developing a consistent and effective brand strategy, you increase the value of your business.
Types of brand strategies
There are different types of brand strategies you can use to position your brand and reach your target audience.
Umbrella or family brand
An umbrella or family brand is a strategy of marketing several products, whether from a different category or not, under one main brand. This is a very cost-effective way where you only have to invest in one brand.
Mono branding is a strategy where different sub-brands are attached to the main brand. The different products in your offering are given their own unique brand name.
Example: Unilever (Axe, Dove, Knorr…)
Sub-branding is a brand strategy in which a company creates a new brand under its main brand in order to appeal to a new target audience. The goal is to distinguish different product lines and services from each other, but at the same time maintain the brand awareness and brand value of the main brand.
With sub-branding, there is always a clear connection between the main brand and the sub-brands.
Example: Coca-Cola, Coca-Cola Zero, Coca-Cola Life ...
In an endorsed branding brand strategy, we talk about a main brand and a secondary brand. The main brand brings out various products or services under its own name, but is itself less present. The secondary brand, often the company name, provides a quality guarantee to the main brand from the background.
Example: Nestlé (secondary brand) with Kitkat, Smarties (main brands) ...
Hybrid branding is a brand strategy in which a company combines two or more different brands into a single brand. The goal of this brand strategy is to leverage the strengths of each brand and create a new and unique brand identity that appeals to the target audience.
Example: Audi's RS line
These are the most well-known branding strategies. Of course, there are variations and combinations among these strategies. Consider, for example, private-label branding, personal branding and brand extension branding.
How do you determine the best strategy for your brand?
Get to know your target audience inside out
You created your brand for a reason: you create change. To have an impact, you need customers. Those customers come from your target audience. So your brand strategy should be based primarily on what they want to see from you.
Analyze the behavior of your target audience. Where are they present? How do they react to your competitors? Choose a brand strategy that matches the wants & needs of your target audience.
Analyze your competitors
See how your competitors are positioning their brands and what strategies they are using. Analyze this information to determine how your brand can stand out and occupy a unique position.
Define your brand identity
Determine what makes your brand unique and what your brand values are. Use this information to develop a brand strategy that truly fits your brand.
Determine your marketing mix
Develop a marketing mix that fits your brand strategy and target audience. This includes decisions about product development, pricing, promotion and distribution.
Measure the results
Regularly evaluate the performance of your brand and strategies to ensure they are still relevant and contributing to achieving your business goals.
Benefits of a powerful brand strategy
A powerful brand strategy ensures that your brand makes an impact.
- Differentiation: a strong brand strategy helps your company stand out from the competition and occupy a unique position in the market. This helps attract the attention of your target audience and earn their loyalty.
- Trust: with a strong brand, you build trust and credibility with your customers.
- Loyalty: a strong brand encourages customers to remain loyal to your business. It helps drive long-term sales and keep customers returning for repeat purchases.
- Growth: a powerful brand strategy helps drive the growth of your business. It helps to increase your market share and attract new customers.
Brand strategies of well-known brands
Brand strategy for changemakers
Want to develop a powerful brand strategy that reflects your brand's values and goals? Bonito.Studio supports changemakers in delivering their message in a unique way that encourages action.