In today’s competitive business environment, building a strong brand is a key factor leading to business success. Brand Strategy plays a core role in orienting and developing the brand, helping businesses create a unique position, attract customers and increase competitive advantage.
What is Brand Strategy?
Entering the world of fierce competition, owning an effective brand strategy plays a key role in the success of the business. So, what is a brand strategy?
Concept:
A brand strategy is a detailed plan that outlines the direction of brand development, helping businesses build their image, position and connect with customers effectively. It includes core elements such as:
- Brand vision: The long-term goal that the business is aiming for
- Brand mission: The reason for the existence and contribution of the business to society
- Core Values: The principles and beliefs that guide a business's operations
- Brand positioning: The position and image of a brand in the mind of the customer
- Brand Architecture: A System of Sub-Brands and the Relationships Between Them
- Brand identity: Visual elements such as logo, colors, fonts that represent the brand
Importance:
Brand strategy plays an important role in:
- Differentiation: Helping businesses stand out from the crowd
- Attract Customers: Make an impression and grab the attention of potential customers
- Increase Loyalty: Retain existing customers and encourage them to shop more
- Enhance brand value: Increase brand value and attract investment
- Ensuring Sustainable Development: A Guide for Businesses to Develop in a Long-Term Orientation
Key elements:
To build an effective branding strategy, businesses need to pay attention to the following key factors:
- Values: Identify the core values that the business wants to convey
- Customers: Understand the needs, wants and behaviors of target customers
- Competitors: Analyze competitors' strengths, weaknesses, and strategies
- Market: Understand market trends and factors that impact the brand
- Resources: Identify the financial, human and skill resources needed to implement the strategy
Brand strategy is an essential tool for any business that wants to succeed in today's competitive environment. By developing and implementing an effective brand strategy, businesses can create a unique image, attract customers, increase loyalty and achieve long-term business goals.
Defining Brand Objectives: The Foundation for a Successful Strategy
The first step in the journey of building a brand is to clearly define the goals. Brand goals act as a compass, guiding all activities and decisions of the business. It helps the business create a unified image, attract customers and achieve long-term success.
Brand vision:
A brand vision is a picture of what a business wants to be in the future. It represents the aspirations, long-term goals and ideals that the business is aiming for. A brand vision should be customer-centric , demonstrate the business’s commitment to the community and inspire employees.
For example:
- Google's vision: "To organize the world's information and make it universally accessible and useful."
- Starbucks' vision: "To inspire and connect people through coffee."
Brand mission:
A brand mission is the reason for a business’s existence and contribution to society. It expresses the specific purpose of the business in meeting the needs of customers and creating value for the community. A brand mission needs to be concise, clear and easy to understand to convey the message effectively.
For example:
- Nike's mission: "To bring inspiration and innovation to every athlete in the world."
- Unilever's mission: "To make life better and more sustainable for everyone."
Core values:
Core values are the principles and beliefs that guide all activities of a business. They represent the identity and culture of the business, creating a difference from competitors. Core values need to be practical , measurable and shared with all employees in the organization.
For example:
- Coca-Cola's core values: "Commitment, Passion, Integrity, Innovation, Responsibility."
- Samsung's core values: "People, Excellence, Together, Responsibility."
Identify effective brand goals:
To effectively define brand goals, businesses need to take the following steps:
- Market Analysis: Understand market trends, customer needs and competitor behavior.
- Internal Assessment: Identify the strengths, weaknesses, opportunities and threats of the business.
- Identify core values: Choose the values that the business believes in and is committed to.
- Develop a vision and mission: Describe the desired image and specific purpose of the business.
- Implementation planning: Identify specific strategies and actions to achieve brand goals.
Brand objectives are the foundation for all brand building and development activities. By defining clear objectives, businesses can create a unified image, attract customers and achieve long-term success.
Brand Strategy Service Price List
The cost of Brand Strategy consulting services can vary depending on a number of factors, including:
- Scope of work: The broader the scope of work, the higher the cost of service.
- Project complexity: The more complex the project, the higher the service cost.
- Brand Manager Experience: Brand Managers with high experience usually command higher fees.
- Project completion time: The shorter the project completion time, the higher the service cost.
Below is the price list for brand strategy consulting services for reference:
| Service | Describe | Price |
|---|---|---|
| Market research | Market, competitor and customer analysis | 15,000,000 - 30,000,000 VND |
| Define brand goals | Identify short-term and long-term brand goals | 10,000,000 - 20,000,000 VND |
| Develop brand positioning | Identify the brand's unique position in the customer's mind | 20,000,000 - 40,000,000 VND |
| Design communication strategy | Choose the right communication channel to convey your brand message | 25,000,000 - 50,000,000 VND |
| Brand reputation management | Monitor and protect brand reputation | 10,000,000 - 20,000,000 VND |
| Measuring the effectiveness of brand strategy | Data analysis to evaluate the effectiveness of brand strategy | 15,000,000 - 30,000,000 VND |
In addition, some Brand Managers also provide other services such as:
- Logo design and brand identity
- Develop marketing content
- Marketing event organization
- Marketing training for staff
The cost for these services will be quoted separately depending on the customer's requirements.
Note:
- The above price list is for reference only, actual price may vary depending on each Brand Manager.
- It is advisable to consult with several Brand Managers before making a decision on choosing a service.
Here are some tips to save money on brand strategy consulting services:
- Compare prices from multiple Brand Managers: Check prices from multiple Brand Managers before making a decision.
- Price negotiation: You can negotiate the price with the Brand Manager if you feel the price is too high.
- Do some work yourself: You can do some simple tasks yourself, such as market research or developing marketing content, to save costs.
By following the above tips, you can save money on brand strategy consulting services and still ensure you achieve the desired results.
Understanding Your Target Audience: The Key to a Successful Brand Strategy
To build an effective brand strategy, businesses need to understand their target customers. Understanding customers helps businesses identify their needs, desires, behaviors and shopping trends, thereby offering appropriate products, services and marketing strategies.
Market research:
Market research is the first step for businesses to understand their target customers . Through market research, businesses can collect information about:
- Demographics: Age, gender, income, education level, occupation, etc.
- Needs and wants: What do customers need, want, and expect from the product/service?
- Shopping Behavior: Where, When, How Do Customers Shop?
- Market Trends: What trends are influencing the market and customer behavior?
Popular market research methods:
- Survey: Collect information directly from customers through questionnaires, online or in-person interviews.
- Data Analytics: Analyze sales data, customer data, data from marketing channels, etc.
- Discussion Groups: Organize discussion groups to gather customer opinions and views on a particular topic.
- Observational research: Observing customer behavior in stores, websites, or other shopping channels.
Identify competitors:
Competitors are businesses that offer similar products/services to the same target customer group. Identifying competitors helps businesses understand their strengths, weaknesses, marketing strategies and prices, thereby developing appropriate competitive strategies.
Methods for identifying competitors:
- Internet Search: Search for businesses offering similar products/services on Google, Facebook, e-commerce sites, etc.
- Attend trade shows: Attend industry trade shows to research competitors and gather information about them.
- Read industry reports: Read industry reports to learn more about the market and competitors.
- Ask your customers for their opinions: Ask your customers for their opinions about competitors they know.
Customer needs and wants:
Needs are what customers require to satisfy their basic needs, for example the need for food, clothing, shelter, etc. Wants are what customers want beyond basic needs, for example the desire for luxury, convenience, unique experiences, etc.
Understanding customer needs and desires helps businesses:
- Develop products/services to meet customer needs.
- Create added value for customers.
- Improve customer experience.
- Increase customer loyalty.
Collect information about customer needs and wants:
- Customer surveys: Collect information directly from customers through questionnaires, online or in-person interviews.
- Customer data analysis: Analyze sales data, data from marketing channels, customer feedback data, etc.
- Track customer behavior: Track customer behavior on your website, mobile app, or other shopping channels.
Understanding your target audience is key to the success of any branding strategy. Businesses need to invest time and resources to research the market, identify competitors, and gather information about customer needs and wants. By understanding your customers, businesses can offer the right products/services, attract customers, and achieve business goals.
Building a Unique Brand Personality
Brand personality is a key factor in creating differentiation and attracting customers in today's fiercely competitive market. A brand with a unique personality will easily build trust, love and loyalty with customers.
A brand promise is a promise that a brand makes to its customers about the value, benefits, and experiences they will receive when using the brand’s products or services. The brand promise should be expressed clearly, concisely, and easily understood, and should be consistent across all communications and interactions between the brand and its customers.
Brand identity design includes logos, colors, fonts, images, sounds, and other elements that create the look and style of a brand. Brand identity design needs to be done professionally, creatively, and in line with the brand's personality, while being easily recognizable and memorable.
Brand voice is how your brand communicates with your customers. Your brand voice should be consistent across all your channels, from your website and social media to your emails and promotional materials. Your brand voice should match your brand personality and your target audience.
Here are the steps to building a unique brand personality:
1. Identify target customers:
- Understanding your target customers' needs, wants, and preferences is the first step to building the right brand personality.
- Market research and competitor analysis to determine the brand's unique position in the mind of the customer.
2. Identify the core values of the brand:
- Core values are the fundamental beliefs and principles that a brand stands for.
- Core values need to be clearly demonstrated in all brand activities.
3. Develop brand personality:
- Based on your core values and target audience, develop a unique brand personality for your brand.
- Brand personality needs to express the brand's unique identity and differentiate itself from competitors.
4. Express brand personality:
- Brand personality needs to be expressed consistently in every aspect of the brand, from products, services, to the way you communicate and interact with customers.
- Use brand identity design, brand voice, and creative content to effectively express your brand personality.
5. Maintain brand personality:
- Brand personality needs to be maintained consistently over time.
- Update brand personality as needed to align with market and customer trends.
For example:
- The Nike brand has a dynamic, youthful and inspirational brand personality. This brand personality is reflected in Nike's products, advertising campaigns and the way it communicates with customers.
- The Apple brand has a brand personality that is luxurious, sophisticated and innovative. This brand personality is reflected in Apple's product design, stores and customer service.
Building a unique brand personality is an important process that helps your brand differentiate itself and attract customers. By following the steps above, you can build a unique brand personality for your brand and achieve success in today's competitive market.
Effective Brand Communication
Effective brand communication is the key to getting your brand in front of your target audience and establishing your position in the market. An effective brand communication strategy will help your brand:
- Increase brand awareness: Introduce your brand and products/services to potential customers.
- Build Trust: Build trust and credibility for your brand.
- Customer Acquisition: Attract leads and convert them into actual customers.
- Increase Sales: Increase sales and profits for your business.
To build an effective brand communication strategy, you need to take the following steps:
1. Determine communication goals:
- What are your goals? What do you want to achieve through your brand communications campaign?
- Increase brand awareness?
- Building trust?
- Attract customers?
- Increase sales?
2. Identify target audience:
- Who do you want to reach with your brand message?
- Who are they?
- Where are they?
- What do they care about?
3. Choose the right communication channel:
-
There are many different media channels you can use to convey your brand message, including:
- Traditional media channels: Newspapers, television, radio, billboards.
- Digital media channels: Website, social networks, email marketing, online advertising.
- Non-traditional media channels: Event marketing, sponsorship, public relations.
-
Choose the media channel that fits your goals, target audience and budget.
4. Create content that attracts customers:
- Your content needs to be engaging, compelling, and valuable to your target audience.
- Use different content formats like articles, images, videos, infographics to attract customers' attention.
- Tell your brand story to connect with customers on an emotional level.
5. Measure campaign effectiveness:
- Track the effectiveness of your brand communications campaigns so you can adjust and improve as needed.
- Use analytics tools to track website traffic, social media engagement, and conversion rates.
For example:
- The Dove brand has successfully launched a brand communication campaign with the message "Real Beauty". This campaign focuses on celebrating women's natural beauty instead of using images of perfect models. Dove used many different media channels to convey its message, including television, social media and websites. This campaign was very successful in increasing brand awareness and building trust for Dove.
Effective brand communication is an important part of any marketing strategy. By following the steps above, you can build an effective brand communication campaign that helps you achieve your business goals.
Brand Maintenance and Development
Brand maintenance and development is an ongoing process to ensure that your brand remains strong, competitive and relevant in the market over the long term. To achieve this, you need to implement the following strategies:
1. Brand reputation management:
- Monitor your brand reputation on social media, review sites, and other media.
- Respond quickly and positively to customer comments and reviews.
- Handle media crises effectively.
2. Brand expansion strategy:
- Expand into new markets or launch new products/services.
- Partner with other brands to expand your reach.
- Acquire other companies to increase your competitiveness.
3. Sustainable brand development:
- Adopt sustainable business practices.
- Participate in social responsibility activities.
- Build relationships with local communities.
For example:
- Starbucks has been very successful in maintaining and growing its brand. Starbucks has implemented a number of effective strategies, including:
- Closely manage brand reputation: Starbucks monitors its brand reputation on social media and other media and responds quickly to customer comments and reviews.
- Smart brand expansion strategy: Starbucks has expanded into new markets around the world and launched new products/services such as bottled beverages and roasted coffee.
- Sustainable Brand Development: Starbucks is committed to sustainability and has implemented a number of initiatives such as using Fairtrade certified coffee and reducing waste.
Maintaining and growing your brand is a process that requires constant effort and commitment. By implementing effective strategies, you can ensure that your brand remains strong, competitive, and relevant in the market over the long term.
Brand Manager Specializes in Providing Brand Strategy Consulting Services
Brand Managers play an important role in building and developing a business’s brand. However, not all businesses have the resources and expertise to build an effective brand strategy on their own. Therefore, brand strategy consulting services provided by Brand Managers are becoming increasingly popular.
Brand strategy consulting services include the following activities:
- Market research and analysis: The Brand Manager will collect and analyze market data to understand market trends, customer needs and competitors.
- Define brand goals: The Brand Manager will work with the business to define what the brand wants to achieve in the long and short term.
- Brand Positioning Development: The Brand Manager will help the business define the brand's unique position in the minds of customers.
- Design communication strategy: Brand Manager will choose appropriate communication channels to convey brand messages to target customers.
- Brand Reputation Management: The Brand Manager will monitor and protect the business's brand reputation.
- Measuring brand strategy effectiveness: The Brand Manager will analyze data to evaluate the effectiveness of the brand strategy and make adjustments as needed.
Benefits of using brand strategy consulting services:
- Save time and money: Businesses will save time and money in market research, strategy development and brand strategy implementation.
- Increase efficiency: Brand Manager has the expertise and experience to build effective brand strategies, helping businesses achieve business goals.
- Risk Mitigation: Brand Managers will help businesses avoid common mistakes in branding.
Process of implementing brand strategy consulting services:
- Step 1: Initial contact and discussion: The business will contact the Brand Manager to discuss its needs and desires.
- Step 2: Sign the contract: After agreeing on the scope of work and service costs, the two parties will sign the contract.
- Step 3: Market research and analysis: Brand Manager will collect and analyze market data to understand market trends, customer needs and competitors.
- Step 4: Develop brand strategy: The Brand Manager will work with the business to develop an appropriate brand strategy.
- Step 5: Implement brand strategy: Brand Manager will support the business in implementing brand strategy.
- Step 6: Measure effectiveness and adjust: The Brand Manager will analyze data to evaluate the effectiveness of the brand strategy and make adjustments as necessary.
If you are looking for a professional Brand Manager to advise on brand strategy solutions for your business, contact us today.
Here are some notes when choosing a Brand Manager:
- Experience: Choose a Brand Manager who has experience in branding and has successfully implemented many projects for different businesses.
- Expertise: Choose a Brand Manager with expertise in the market, customers and competitors in your industry.
- Communication skills: Choose a Brand Manager who has effective communication skills to be able to clearly present ideas and explain strategies to you.
- Creativity: Choose a Brand Manager with a creative mindset who can come up with new and unique ideas for your brand.
- Commitment: Choose a Brand Manager who is highly committed to the job and always strives to achieve your common goals.
With careful selection, you can find a reputable and professional Brand Manager to help you build a successful brand.
Building a strong brand is a long journey that requires persistence, effort, and smart investment. By implementing an effective branding strategy and implementing the above steps systematically, your business can establish a strong position in the market, attract loyal customers, and achieve long-term success.