Your brand is the single most important investment you can make in your business.
If the quote from Steve Forbes isn’t enough to convince you why brand strategy matters, keep reading!
Why brand strategy matters
Defining your brand strategy is a critical part of your overall company strategy. Your promise, personality and positioning provide the internal touchstone to guide your entire organization on the key characteristics that sit at your company’s core. Further, it helps every team member distill and understand what truly makes your organization stand apart from competitors.
But that’s not all! A good brand strategy should also be translated into external key messages. These help you simply and clearly communicate the main points you want your customers and prospects to remember.
And if you’re still not convinced why brand strategy matters, here are 3 more compelling reasons:
1. A good brand strategy helps you identify your company’s spirit, simply and clearly.
No more long winded paragraphs full of buzzwords! A great brand strategy should simply and clearly communicate what problems you solve, why you do it better, and be wrapped up in a distinctive style or personality that reinforces the first two points.
2. A good brand strategy aligns your team through shared understanding
Sharing your promise, personality, positioning and key messages across your organization will ensure everyone is on the same page when it comes to why you do what you do. Further, it also aligns team members on how you want that to be conveyed in the market.
Your brand is what people say about you when you’re not in the room.
3. A good brand strategy makes a connection with your customer
If the Jeff Bezos quote above rings true, then having a set of messages that explain who you are and the problems you solve in a simple, meaningful way, is one of the most important things you can do for your company.
Without the internal and external elements that make up brand strategy, a company is rudderless. Companies that lack a defined brand strategy, have no simple, clear and shared understanding of what the company stands for and why it exists.
