Brand & Business: SavvySME gives three questions to answer when developing a brand strategy and what experts have to say to them

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CHATSWOOD, AUSTRALIA — As more and more people take a leap on building their own businesses, and/or experts offering branding services, SME owners like Pamela Zhang can’t help but raise a discussion regarding the matter.

Pamela Zhang raised a question that all business owners may have encountered while building their brand, “What do you need to consider when developing a brand strategy?”

But, just before we dive into that, what exactly is a business strategy? According to imd.org, “Put simply, Business strategy is a clear set of plans, actions and goals that outlines how a business will compete in a particular market, or markets, with a product or number of products or services.”

Now that you have an idea of what it should be, here are some tips from Founder and Business Manager at My Marketing Friend, Lauren Hutchin, and what other experts have to say about brand strategy.

Hutchin said that while many business owners think branding is just about their logo and website, brand strategy is more than just that and it should also be about your target market, your unique selling proposition or “USP” and even the experience you’re going to associate it with.

For instance, questions like: 1) What do you do and who do you do it for, 2) Why would someone buy from you, and 3) What experience are you going to create? are three important things you should be able to identify to be able to create a great strategy. With respect to the third question, a strategist must know that consumers nowadays do not only buy a product and/or service but the experience that comes with it, so far as even the memories they want to relive. The same with the first two questions, one must know how the brand can establish a sense of affinity with the brand’s target consumers.

SavvySME’s Top Influencer in Branding Luke Frost agreed and said that it is important to find that point of difference, and from then on finding someone who can attest to it, like how word of mouth marketing would work. He added, “Then take it further, by projecting that point of uniqueness into the world – social media is a must, but do be aware you are likely to take some hits…and you must be proactive and keep the content coming, don’t let things get stale”

Hamish Anderson, SavvySME Top Influencer in Content Marketing, agreed and added another point, “Give your brand an identity. To succeed your brand must be seen as a sentient being. It must evolve.” And while this is a good tip already, Jeff Lippiatt, SavvySME Top Influencer in Email Marketing wants to take it a notch higher. According to the latter, aside from giving your brand an identity, one must also know a brand’s personality because then you would know how to interact better with your consumers. He ended by saying, “Have a personality that blends with your audience. Use that personality to set yourself apart from the competition.”

While you may focus on your branding materials like logo, and communication channels like websites, other parts of brand strategy are just as important and should therefore be studied and crafted well.

For other trending topics, insights, and discussions, please visit www.savvysme.com