How to Create a Successful Brand Strategy?
The economy, along with consumer trends and expectations have significantly transformed over the past two decades. The digital revolution had a lasting impact on various industries, sectors and markets. Brands need to adapt to these transformations now more than ever.
The shift of consumers to the digital platform has been further fuelled by the recent Coronavirus pandemic. With that in mind, adapting to the new market and consumer trends is crucial for brands. Be it an established business or a startup of any size, across any industry, a successful brand strategy is crucial for the growth and success of a business. As reported by a Nielson survey, almost 59% of consumers prefer purchasing new products from brands that are familiar to them.
When creating a brand strategy, the first thing to do is look for reliable advertising agencies in Dubai that specialise in the field and can formulate the best plan and a solid brand strategy to grow and succeed in a highly competitive market. Along with that, there are several other things to know about when trying to create a successful brand strategy. Let us take a look at these.
What Makes A Brand?
A very simple definition of a brand is that it is a customer’s overall perception of a business.
Jeff Bezos, the founder of Amazon, offered a more modern definition:
“Your brand is what other people say about you when you’re not in the room.”
And that is what your brand actually is: The reputation you build in the market. In today’s market, a successful brand needs to be in consistent communication with its consumers and the experience it offers across different areas. This is particularly why you need a reliable brand communication agency to build a successful brand strategy.
Building A Brand Strategy: What It Takes?
Brand building is not a simple job especially when you do not have knowledge or experience in the field. This is why the best brands and the top names across the industries and all over the globe prefer hiring advertising agencies in Dubai for building and growing a successful brand.
However, building a brand is not an overnight process. It requires some considerable time and is definitely a process that requires a solid strategy. The process and ongoing efforts will help build a long-term reputation and brand image in the market. Through long-term relationships established with customers, it helps a brand enhance its reputation and steadily increase its leads and sales and overall revenue.
Although, brand building is much more than that. It consists of several major things and several minor things like word-of-mouth referrals, advocating your products and/or services on the right platform and a range of other measures. All of these measures are a part of a successful brand strategy.
What Is A Brand Strategy?
A brand strategy is a plan you prepare to present your brand to your target customers. It is the way you want your brand to appear to the consumers who will buy your products or services. Through a brand strategy, you will want to create a trustworthy, memorable, unique, and likable brand for your ideal customer. It must convey the goals, purpose, commitments, and the key USPs of the brand. Also, you must be able to tell your customers how your brand helps solve their problems.
Key Components Of A Successful Brand Strategy
Any successful brand strategy has some key components that you need to pay attention towards during the brand building process. These are:
- Discovery of a brand.
- Competitor research.
- Ascertaining the target market and ideal customers.
- Bringing out the voice of the brand.
- Presenting the brand story and message.
A successful brand strategy is critical to building a successful brand and for its long-term growth and sustainability. For this, the best solution is consulting with a reputed brand communication agency.
There are several advertising agencies in Dubai and hiring a reputable, experienced and specialist firm for brand building can help you formulate a successful brand strategy. Such professionals will help you establish the perfect brand image in the target market and get a competitive edge. In today’s modern digital world, building brand strategy is the foundation to the success of a business.