Developing a brand strategy is a process that begins with a deep analysis of the current state of the market and your brand’s perception. Then, you must formulate a plan to ensure that your brand is perceived as intended and secures your business objectives.
Understanding the context in which your business operates
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Understanding the buyer persona
Creating a buyer persona helps you target the right people and increase your sales. A buyer persona is a detailed summary of your ideal customer. This includes demographic information, spending patterns, personality traits, psychographics, and more.
The best way to develop a buyer persona is through market research. You can get this information from customer interviews or sales data. You should also consider background information such as education, hobbies, and other interests. You can also get information about the type of work the customer does outside of your business.
You should consider defining the age range of your buyer persona. This is important because you can tailor your marketing messages to the demographic. For example, if you are selling wool clothes, you can target the 35 to 45-year-old demographic.
Buyer personas should also include the job title, associations, social media use, and lifestyle. Having a clear picture of your buyer’s goals and values will help you better communicate with your customer.
Building a brand strategy in a bubble is a bad idea
Developing a stellar brand strategy isn’t just about stumbling across the right formula, though. It’s also about understanding your competition and what they’re doing. You might even want to think about joining their ranks. This is especially true of brands that rely on social media to boost sales and engagement. One key to success is a well-thought-out content strategy. For example, you might want to consider using Facebook as a conduit for launching a Facebook group that’s targeted at your target audience. Likewise, you can leverage your own brand in the form of a style guide and style-centric blog posts. These efforts can have a profound impact on your bottom line.
While building a stellar brand strategy isn’t easy, it isn’t impossible, either. You might even be able to glean some cool strategic ideas from an existing brand. This is especially true of established players that might have overlooked some of the hottest consumer trends of the last decade.
Communicate it internally and externally
Increasingly, organizations are adopting an integrated approach to internal and external communication. This can include the use of social media and other forms of external communication. However, companies must also ensure that their internal communications are aligned with their brand. This can help to increase employee engagement and improve customer satisfaction. A recent study by Lucidpress found that when the brand was consistent, revenues increased by 30%.
For example, the HSBC NOW Twitter feed uses social media to promote the bank and interact with customers. This gives employees a voice and creates a positive image for the bank. Similarly, a team meeting can be an effective form of internal communication. It allows employees to have a holistic view of the company’s goals.
In addition to providing a company with an opportunity to receive feedback, internal communication provides employees with an understanding of the goals of the company and helps them understand how the company works. This allows employees to use the artifacts as a guidepost when interacting with customers.