When we think of big brands, we automatically remember a slogan, jingle or campaign that marked us. It doesn’t have to go very far, brands like Apple, McDonald’s and Coca-Cola are fixed in our minds and what built this, in addition to years of history, was good branding management.
Building a brand can be compared to building a pyramid of cards, think that you are building one, and then you put a card in the wrong way and the entire pyramid falls. The letter that dropped the structure may be your business model and branding strategy if done incorrectly.
The business model and branding strategy you choose is the main card in your deck. You need to know how to adapt these techniques so that your business doesn’t fall apart like a pyramid of cards!
Want to know how to do this? Check below the 3 pillars that a good branding management needs and that can define your business model:
All major brands always seek to stand out from their competitors. Not only because of slogans and jingles but because they understand that standing out makes them different and this gives them a unique advantage in the market. This is an extremely important element in the definition of any brand strategy, being original is essential.
One of the first steps to execute efficient planning is to build an in-depth and competitive analysis. The research part is crucial for this stage. At this point, you will map out the strengths, weaknesses, threats, and opportunities of your business and this will result in a SWOT matrix.
The benefits of doing a SWOT analysis are that if done correctly, you will be able to clearly see the main points to be explored and how to take advantage of them correctly.
SWOT ANALYSIS BY BOSTON DIGITAL
An example of a branding strategy based on a SWOT analysis may be that the company starts not only investing, but actually working on the available marketing channels that best fit its profile. These channels are like the voices of your company and it is through them that people are attracted and can become new customers.
Although digital channels (social media) are the most obvious choice to do marketing right now, you have to go further. It is important not only to post random things but also to monitor customers and understand their intentions and interactions with your brand. This way, your company’s presence in the right channels will become organic and more efficient.
The world has changed and so have the ways of consuming it. The most renowned brands that are referenced when talking about branding understood this and added in their strategies, a model of brand purpose. What do you want to show your audience other than your products? How are you making a difference in this world? This has to be honest and sincere and it can be developed in different ways, such as focusing on sustainability, diversity, social equity, experiences, etc. Promise and purpose must go together and simultaneously.
Personas are detailed profiles of possible customers. In these profiles you will find social, demographic and psychological data that guide the company to carry out more assertive campaigns with those who are likely to be positively impacted by them. Building personas helps you understand and funnel your target audience, making future campaigns more effective when it comes to sales.