Nike, Amazon, and Netflix are iconic brands and many businesses are working to create their own brand that is instantly recognizable to potential customers. Are you one of those businesses that is working to build a brand? A viable strategy can help you achieve those goals and it is important to know how to create a brand strategy that will create a memorable customer experience that helps drive business success.
Step-by-Step Process to Build a Brand Strategy
Building a brand identity is critical. It’s what differentiates you in a competitive market and helps build trust and loyalty. Consistent branding across all platforms can significantly increase revenue, with some studies suggesting a boost of 10% - 23%. In addition - an incredible 81% of consumers indicate that they need to trust a brand to consider buying from it. Creating a comprehensive brand strategy involves several important steps:
1.Define Your Brand Goals and Identity
The first step is to clearly define your business mission. What are the core values that drive your company? What is the unique personality you want for your brand? These are the questions you need to ask and answer when you start to build your brand.
2. Identify Your Target Audience
What is the target audience for your brand? Take a moment to determine who you are trying to reach with your products or services - determine their demographics, psychographics, needs, challenges, and where they spend their time. Understanding your target audience will help inform what you want your brand to be.
3. Research Your Target Audience
You need to go beyond basic audience identification and conduct market research for your target audience. Use surveys, and interviews to gain a deeper understanding into your audience's motivations, preferences, and pain points.
4. Perform a Competitive Analysis
Who are you competing with in your industry and your local area? Analyze your competitors to understand their branding, strengths, weaknesses, and position in the market. This data will help you identify opportunities and areas where you can set your brand apart from competitors.
5. Develop Your Brand and Brand Guidelines
Create your core brand messaging, define your brand voice, and create a visual identity with a logo, color palette, and print. Document these in comprehensive brand guidelines to ensure consistency across all platforms and into the future. This will also provide easily accessible guidelines for third-party content providers and website platforms.
6. Create a Marketing Strategy for Your Brand
It is important to outline how you will communicate your brand message and value to your target audience across multiple channels. This strategy should incorporate comprehensive customer experience management to ensure every touchpoint reinforces your brand identity and builds positive momentum for your brand.
7. Monitor Your Brand Strategy and Results
Businesses should continuously track brand awareness, perception, customer sentiment, and how your strategy impacts your business goals. Customer experience management tools — like those provided by boostCX - can be used to effectively collect and analyze customer feedback, providing important customer data that can be used to refine and optimize your business operations.
READ MORE: How To Find the Right Customer Experience Management Software
Creating a brand strategy is an important first step in building a successful business. It's about defining who you are as a business, who you serve, and how you want to be viewed - then consistently delivering on that message. While there is no single best approach that fits every business, a strategy built on understanding your customers, creating value, and delivering memorable customer experiences.
Are you ready to align your customer experience management and build your brand? Contact boostCX today about customer experience management strategies that will help build your brand!
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