As a business owner, it's easy to lose yourself in the day-to-day tasks of making sure the business continues to function and forget about the bigger picture. But having a strong brand strategy is crucial to the success of any business, and it's the foundation for literally ALL things.
According to a survey conducted by Brandingbrand, 88% of consumers believe that a company's brand is an important factor in their purchasing decisions. This shows the importance of having a well-defined brand strategy that clearly communicates who your brand is, who it's for, why it's the best option and how its values align to your audience.
But a brand strategy goes beyond just "defining" your brand. It's not something that you just do and create before you launch, then let sit and collect dust in your google drive. It affects everything from your logo choices and marketing efforts to who you decide to hire. Your brand strategy should really be at the forefront of all decision-making in your business. It helps you stay focused and ensures that everything you do is aligned with your brand's values and mission, which is an important part of building relationships with your customers (consistency in all ways).
For example, let's just say you're in the process of hiring some new bad a*s team members. Your brand strategy should guide you in choosing candidates who align with your values and fit your brand's culture, and nothing less. This helps create a cohesive and consistent experience for your customers and employees. According to a survey by Glassdoor, 87% of job seekers consider a company's culture and values when deciding whether to apply for a job. Why do you think people WANT to work for Google or Apple?
Your brand strategy also plays a major role in your marketing efforts. Although I call it the unsung hero because many people don't even realize it's apart of the brand strategy process, It helps you create a clear brand voice and messaging, which is essential for effectively getting your brand across to your target audience. In fact, a study by Forbes found that companies with a strong brand strategy are 70% more likely to report higher revenue growth.
In short, your brand strategy is the root and foundation of your business. It affects everything from your logo choices and marketing efforts to who you decide to hire. It's essential for building a strong and successful brand, and it should be at the forefront of all decision-making in your business.
Like these blog posts? Please share below in the comments what you like most about them, any aha moments and what else you'd like to learn about branding !
My name is Diamond Spikes. I'm lead brand strategist + creative director over here at DS Creative Design Studio, where we are an award winning black woman owned + led creative agency that partners with purpose driven dtc cpg brands that are ready to scale to the next level.