What is a good branding strategy?

 

1. What is a good branding strategy?

   A good branding strategy is one that incorporates the following elements:
   
   A strong purpose:
   A brand stands for something. Your values and principles are what define your purpose. For example, Tesla defines its mission as “to accelerate the world's transition to sustainable energy”.
   
   Clear understanding of its target audience:
   Who are you talking to? When you know who they are like and what they find relatable, you can appeal to them in a way that clicks. Think of Levis- it focuses on the urban youth and speaks to them in a way that they find relatable.
   
   A strong emotional connect with the audience:
   When you know what your audience finds dear or holds important, you can invoke strong emotions which get the customers invested in your brand for long. A great example is Nike- it invokes strong emotions in its followers, and has built up an extremely loyal customer base as a result.
   
   Efficient messaging:
   Say the right things, use the right words and use the right tone. Communicate regularly with your target audience.
   
   Consistency in communication across all platforms:
   Consistency is key. Ensure that your message is consistent across all platforms, media and forms.
   Flexibility in approach that leaves room for evolution- Times are always changing, so if your brand cannot adapt or respond to changes positively, it will stagnate or even crash.
   
   Appreciation for loyalty:
   A brand should be ready to reward its loyal customers. All brands today have a loyalty or reward system in place. Apart from that, take a personalized approach when talking to customers. Give them special treats from time to time.
   
   An appetite for competition:
   If your strategy does not take your competition into account, it will not be sustainable. Be competitive, and be prepared to tackle your opposition where needed. Try to catch up and neutralize their advantages, and advance against them.