Top 5 Main Elements to Build a Top-Notch Brand
2. Brand Strategy: The What, Why, and How of your Business
A brand strategy is an action plan from point A to B. Point A is the brand, and point B is the client. So, in other words, brand strategy can be considered as a matchmaking process between the brand and the clients, which surfaces unique insight about both the parties.
Of course, before devising an approach toward attracting clients, a business must decide on its target audience. It needs to have a mission statement and a clear vision, for a brand without a mission and a vision is purposeless and destined to failure.
Moreover, it’s essential to know that the bigger the market gap is, the bigger the brand strategy. So the complexity of approaching it depends on how large of a gap the brand attempts to fill. Therefore, working on a brand’s solution to fulfill its customer needs should be the utmost priority. Giving a unique selling point or unique value proposition to your customers can give your brand an edge over your competitors. Simply standing out in terms of the visual deliverables does not guarantee success. At least, not in the long run, attracting clients with a unique brand identity does not ensure long-lasting relationships with your clients. On the other hand, it’s just as necessary if approached in the correct sequence.
3. Brand Identity – A Visual Embodiment of Your Brand:
So, considering you've mapped out your brand strategy and are all set to achieve great success in the market. The next step is to build a brand identity that can represent your brand's values and encapsulate them through tangible means. Thus, it's important to solidify and symbolize these abstract concepts through visual representation with logos, banners, or characters such as Ronald the McDonald.
Speaking of McDonald's, consider how the clown's character has succeeded in representing the brand as a fun place for families to dine, with gift-wrapped happy meals and a play area for kids. I remember wanting to visit McDonald's more for the toys than the food. Of course, the food has to be good, but by attracting a younger audience, they could convert them into a loyal fan base from a very early stage in our lives. Now, visiting McDonald's is more about the food I've learned to love since childhood.
4. Brand Marketing – Communication and Content:
Communication and content are the fourth element of our recipe for building a top-notch brand. It’s vital to leverage each and every means of connecting and communicating with your clients and customers to ensure that a strong bond develops between the brand and its target audience. The aim of a business shouldn’t only be to make the most sales; instead, it should be to maintain those sales and maintain their client/customer base, for which after-sales service is essential.
Brands these days communicate with their fans via social media to create a more humanistic relationship with their audience. Similarly, the content you share with your fans matters a lot as it provides you with an opportunity to drive conversations about your products and services actively.
5. Consistent, Yet Flexible
After laying the foundation for a strong brand, a business must remain consistent with what they promise to offer. The brand must stay focused on its mission and true to its values. Yes, in a fast-paced technological era, it's also crucial to adapt and improve your brand according to changing trends; however, in essence, your brand should be the same.
Today, companies constantly need to come up with new creative campaigns and strategies to keep the audiences engaged and attracted to their brand. It also means that tactics that did not work previously need to be amended. Moreover, besides the conceptual, the business's tangible assets can also benefit from improvements.
For instance, take the example of brands refreshing their brand identity to make it look more modernized. We've seen numerous rebranding cases in different industries, such as MLB logos in sports, and Windows and Apple logos in the tech industry. They have successfully refreshed their look, but have stayed true to their mission.
Final Thoughts on How To Build a Top-Notch Brand
Time and time again, irrespective of the industry, these 5 main elements prove to be the most essential building blocks for creating a top-notch brand. As these give companies a direction and a collective goal to strive towards as a team, it’s important that everyone in the company, right from the CEO to the associates, is on the same page in terms of having a solid understanding of the ‘what, why, and how’ of the company.
About Lean Labs
The only outsourced growth team with a track record of 10X growth for SaaS & Tech co's. 🚀 Get our proven growth playbook →