Elements of Brand Strategy
The objective of brand strategy is to support in developing the key elements of a brand strategy by guiding you through a defined process. Developing a powerful brand is both a strategic and a creative exercise that involves appraising every aspect of a business and how it needs to be experienced. It is important to remember that it all starts with your core market and customer insight. Understanding who your most valuable customer is, will always be the starting point for any given strategy. Because, when they buy a brand, they will buy a concept that the brand stands for.
But, successful branding goes much deeper than what customers see and hear in external communications. Think of the familiar iceberg analogy: The majority of its bulk is hidden under the water. Marketing and advertising are like the part of the iceberg that you see. They set the expectations for the brand, and this is why building the hidden bulk consistenly is so important – be spesific and consitent on what you do.
This section is about the 2/3 of the iceberg which is under water
The purpose of a brand strategy is to define what the brand stands for, how it wants to be perceived relative to competition and what makes the brand unique in the market – today and tomorrow. It must be guided and aligned with the ambitions/goals from the business strategy, and by your defined target group (from the part “who to serve”)
What are the key elements of the brand strategy?
Independent of your mission, the 5 key elements of a brand strategy are:
Brand differentiators: Here you define your brand differentiators, but in order to do that, you must create an understanding of what are the core drivers in market, how do your competitors perform on these – and identify if there are any unserved needs in market. It is only when you have such an overview, you can identify and decide on what shall be the key differentiators of