As a veteran marketer, I often hypothesize about the abilities of brands and their marketing teams. If I could grant them a superpower, what would it be? Would it be a laser-like focus on priorities? The ability to maximize ROI and efficiency across all channels? An empowered team? Or perhaps the power to convince customers to choose their brand over all others?
The good news is that these capabilities are not out of reach for any organization – all it takes is a solid brand strategy. In today’s highly competitive market, a strong brand strategy is not just valuable, but essential. Unfortunately, most companies struggle to stand out from the crowd. According to a recent Gartner survey, only 25% of respondents could distinguish one brand from another within a given competitive set.
If you’re having trouble making a case for investing in a brand strategy, consider the many ways it can benefit your organization:
- Focus and Clarity: When your organization and marketing team align around a brand strategy, it becomes clear where to allocate resources. Evaluating new opportunities becomes simpler when you ask the question, “Is this building the brand?” If the answer is no or there’s a better opportunity, the choice becomes clear.
- Efficiency and ROI: A strong brand strategy enables you to focus messaging on a few key strategic points. As a result, messaging across channels builds on each other, creating efficiency and gains in ROI.
- Team Empowerment: A brand strategy acts as a North Star, reducing time spent aligning priorities and execution. With a clear understanding of the brand, employees are empowered to bring it to life in every customer interaction.
- Customer Loyalty: A strong brand strategy is based on deep customer understanding, driving your target audience to choose your brand as the best and only option.
- Innovation Clarity: A clear brand strategy gives you insights into what customers want now and in the future, allowing you to prioritize and deprioritize ideas and projects based on how they align with your brand strategy.
- Partnership Strength: A well-executed brand strategy fosters stronger partnerships with agencies, channels, and other brands by providing a clear understanding of your organization’s values and objectives.
By exploring and communicating the benefits of a solid brand strategy, you can elevate your organization to new heights and stand out in a crowded market.