Building a brand is a more intricate process than it might seem. Just as an architect needs to plan before building, businesses need a strategic plan to beat the competition and build customer loyalty. Read on to learn about the top branding methods and core components to incorporate into your brand strategy.
What Is a Brand Strategy?
A brand strategy plan outlines how the company will forge its presence in the market. This includes rapport with customers and favourability. Essentially, a brand strategy aims to become so memorable that consumers opt for your business over the competition.
If you’re just starting, putting together a brand strategy framework might be time-consuming. However, it’s well worth the investment as your business begins to scale. While every brand strategy agency is different, a few essential elements broadly fit every brand strategy in marketing.
The 8 Essential Components of a Successful Technology Brand Strategy
Globally, the value of tech start-ups is around US$332.86 billion—that’s a lot of competition for your company. Traditional market strategies aren’t enough anymore. You need to revolutionize your brand strategy with our eight essential components.
1. Research, Research, Research
Research provides the starting point for all branding strategies. With the in-depth market, product, and customer research, you can determine a framework for setting your tech business apart. Many companies skip this all-important step due to time or budget constraints. You can always reach out to a market research company to help you find sound analytics.
Check out what your competitors are doing, how customers respond, and stakeholder opinions. It’s a chance to test your ideas, study industry trends, and use quantitative data to provide perspective and context. The information you find will become the basis for your brand strategy.
2. Position Your Tech Brand
The next step in your brand strategy development is determining your position in the market. Hopefully, your research has provided insights into gaps in the market, successful strategies, and competitor pitfalls.
Ask yourself what your organization offers to consumers? Remember to think beyond the tech products and services you sell. Comparing specs and features might not work in your favour.
Even if your products are unique, it might be challenging to use this as your only selling point. You need a brand strategy that attracts customers instantly. Consider your brand story; what are your values and strengths?
3. Why Do You Exist?
It’s time to ask yourself why you matter, but why do you exist? Every successful business focuses on the “why” and the “what.” Why do you benefit the customer? If you’re heading a start-up, it shouldn’t be hard to remember your passionate reasoning behind your business. Even if you’re rebranding an established organization, the “why” is crucial to success.
While highlighting your services, capabilities, features, and functionalities is important, it’s unlikely to set yourself apart from the competition. Introducing the “why you matter” question gives your brand an emotional, appealing quality to attract loyalty. Brand strategy agencies can help you develop your brand identity further.
4. Effective Brand Name
Your business name is so much more than it seems—it should tell your entire brand story and attract consumers. Names create positive associations and stick in people’s minds. They could be anything, from a literal naming of your services to a more evocative title or something completely new.
There isn’t a wrong approach to naming your business. However, it should be informed by your brand strategy. Your organization’s name is an excellent opportunity to push your brand.
Again, your research should help you settle on a brand name; what are the competitors called? Can you create a name that differentiates your business while informing consumers of your brand ideals and services?
5. Find Your Brand Voice
Once you have determined your positioning, you need a brand voice that aligns with your strategy. Your brand voice should unite all your marketing strategies and run consistently throughout your business. If the brand voice doesn’t align with your plan, your organization won’t manage the look and feel you’re going for.
For instance, if your tech company's goals are to pioneer new technologies, then a corporate brand voice will be at odds. While you need to maintain professionalism, many businesses today do better when they connect with audiences on an emotional level.
6. Branding the Entire Customer Experience
You have your branding; you need to infuse the concept into everything the organization says and does. This doesn’t mean slapping a logo on everything.
Instead, you need a comprehensive framework to bring the strategy to life and sustain it over time. Therefore, consider how you can infuse your brand into all consumer touchpoints, including ads, events, digital content, customer service calls, sales pitches, and office reception areas. To adapt your brand across channels, mediums, and audiences, you need to develop brand guidelines.
7. Brand Ambassadors
Working with other successful organizations and key figures in the industry will help cement your status as a leading tech business.
However, before partnering with anyone and everyone, consider how they fit into your brand story. While it might feel tempting to take every offer as a start-up, think about whether your new partner has the same values as you. Will they complement your brand strategy or not?
Moreover, ensure you instruct them on your guidelines. Your branding should feel cohesive and thorough; every cog in the framework needs to promote your brand story smoothly.
8. Continually Develop Your Branding
Strategizing and brand tracking doesn’t end when your business is off the ground and running. Tech is a fast-moving industry; you need to continually evolve and create innovative new strategies to ensure your business branding stays ahead of the game.
Building a Successful Brand Strategy
All brand strategy services must focus on market research, why you matter, connecting with your audience, and continually evolving. A good brand ensures that consumers understand their story, services, and corner of the market at every touchpoint.
About: Joshua Beam
Joshua Beam is a multi-faceted professional writer from Northern Oregon. Right now he blogs about the Los Angeles based brand tracking firm Brand IQ, which specializes in helping businesses with consumer insight & market research. The company offers full-service qualitative and quantitative consumer research strategies. He’s a business owner and a freelance copywriter too. He lives with his partner of ten years, Jen and their son Cody.
