Branding Strategy
Your brand's plan to succeed in the market.
Branding Strategy Overview
Great brands are the result of careful planning and execution, often spanning years or even decades. Brand strategy is the process of strategically positioning your business to gain market favor, achieve instant recognition, and differentiate yourself from competitors.
Brand strategy goes far beyond simply placing a logo. It encompasses every aspect of your business, from how you greet customers when they enter your premises to the promptness of your email responses. While discussions about brand strategy can sometimes venture into abstract territory, having a well-defined plan to position and establish your brand in the market will yield long-term benefits.
OEPMA is here to assist you in developing a comprehensive brand strategy and guiding your team in its implementation. Our goal is to help you make a lasting impression and stand out in a sea of unremarkable competitors.
By partnering with OEPMA, you’ll be well on your way to creating a unique and memorable brand that resonates with your target audience and sets the stage for enduring success.
Frequently Asked Questions About Brand Strategy
What is brand strategy?
Brand strategy is the process of planning the actions you’ll take to position your brand in the minds of your target audience. It begins with determining where you want to be positioned in your market. A luxury brand will have a significantly different strategy compared to a brand aiming for mass appeal.
Creating a cohesive strategy provides a guiding principle for you and your team when interacting with the public through various communications.
Your brand strategy can influence many aspects of your business. For instance, it can dictate how your employees dress. Whether they wear what they want, dark clothing, or bright, fun colors may seem trivial, but it matters in shaping customer perceptions.
If a client walks into a professional services office and sees someone in pajama bottoms, it will leave a lasting impression.
Every element in your ads, such as the tone, language, use of models, their actions, and appearance, contributes to the perception of your brand. Brand strategy is the act of thoughtfully considering these public touchpoints and developing a plan to leverage them to your advantage.
What is the goal of brand strategy?
The main goal of brand strategy is to create a strong, positive, and lasting impression of your brand in the minds of your target audience. It aims to differentiate your brand from competitors, establish a unique brand identity, and build a meaningful connection with your customers.
How do I measure the effectiveness of implementing a brand strategy?
Measuring the effectiveness of a brand strategy implementation can vary depending on the size of the business. For large, nationwide enterprises, it may be more straightforward, as they have the resources to conduct surveys and gauge brand awareness among their target audience. However, for small to medium-sized businesses, this approach may not be feasible or provide meaningful insights.
If you’re a smaller to medium-sized business, the best way to measure the effectiveness of your brand strategy is by monitoring the key performance indicators (KPIs) you’ve already established, while considering the context of your brand strategy efforts.
For example, let’s say you’re an HVAC business looking to attract more high-ticket leads rather than just increasing the overall number of leads. In this case, your KPI would be the average ticket size. If you observe an increase in this metric after implementing your brand strategy, it indicates that you’re making progress towards your goal. Conversely, if the average ticket size remains unchanged, it suggests that your strategy may need refinement.
To effectively measure the impact of your brand strategy, identify the specific KPI you want to improve, implement your brand strategy, and closely monitor the chosen KPI over time. This approach allows you to assess the success of your efforts.
How long should it take to see results after implementing a brand strategy?
The timeline for seeing results from a brand strategy depends on various factors, including the size of your business, the industry you operate in, the level of competition, and your target audience. However, we can provide some general timeframes for what you might expect.
1-3 Months: In the initial stages of implementing your strategy, you may observe some quick wins, such as increased website traffic, higher social media engagement, and possibly an uptick in leads or sales.
3-12 Months: As you consistently execute your brand strategy over this period, you should start to see the KPIs you identified begin to improve, provided that the strategy is being implemented effectively.
12+ Months: After a year of consistently applying your brand strategy, you should notice your KPIs reaching new average levels, along with overall business growth, increased referrals, and a higher volume of brand-specific online searches.
One interesting phenomenon we’ve consistently observed when implementing new strategies for clients is the reaction of competitors.
If you start to gain traction and your brand grows, you may notice your competitors taking unusual actions.
For instance, if a competitor who has never invested in paid advertising suddenly starts making a push in that direction, it could indicate that they are losing business to you and are taking swift measures to regain their position. Keep an eye on their websites, too, as changes in design or the sudden introduction of discounts can be telling signs.
Of course, market factors and the level of demand for your product or service can also influence the timeline, either positively or negatively. The aggressiveness with which your competitors respond to your strategy can also play a role in how quickly you see results.
Why is it important to look at the landscape before making brand strategy goals?
It’s crucial to consider all relevant factors when setting expectations for your brand strategy. While it’s great to be ambitious and set goals like, “I want to increase leads for our service by X amount,” it’s essential to ensure that these targets are realistic and achievable within the context of your service area and the demand for your offering.
Setting overly ambitious goals that are simply unattainable given the market conditions can lead to excessive spending, frustration, and disappointment when you fail to reach a target that may not have been feasible in the first place.
When evaluating the potential success of your brand strategy, take into account your service area, the demand for your product or service, and the competitive landscape.
This will help you set realistic goals that balance ambition with practicality, ensuring that you’re not setting yourself up for disappointment or wasting resources on unrealistic targets.
Remember, a successful brand strategy is one that is not only aspirational but also grounded in the realities of your market and industry.
By taking a comprehensive approach and considering all the relevant factors, you’ll be better equipped to develop a brand strategy that delivers tangible results and drives growth of whatever KPIs you deem important to your business.
What is the investment to develop a brand strategy with OEPMA?
The investment required to develop a brand strategy with OEPMA varies depending on factors such as the size of your business, your goals, and the elements you already have in place.
When we work with clients on brand strategy, we begin with a conversation about your objectives. After understanding your ambitions, we assess your current situation and identify areas that may be hindering your progress.
We then provide recommendations for changes and create a strategic game plan. This may include elements such as brand identity, website design, paid advertising channels, messaging adjustments, and more. These components are priced individually based on your specific needs.
However, it’s crucial to note that while we can assist in creating the elements to communicate your brand strategy to the public, some aspects of implementation will fall under your responsibility.
For example, if your goal is to be perceived as the company with the best customer service in your industry in your area, we can develop the messaging and visuals to convey that image, but the actual delivery of exceptional service falls on your team. We can offer guidance, but the execution of certain elements will be up to you.
To provide a rough estimate, the starting point for a brand strategy discussion and analysis with OEPMA typically begins around $2,000 for smaller local businesses. This cost may increase based on the complexity and size of your market area.
