Brand objectives are relatively simple: encourage consumers to prefer a company’s brand; differentiate from the competition; encourage consumers to purchase company’s brand. Brand strategy is a more complex process. “Brand” is more than a logo or an advertising campaign. “Brand” embodies the fundamental attributes of the company. These components may be based on price, service, quality, support, distribution or a combination of these attributes. For the “Brand” to succeed in the market it must be:
- a) Relevant — can the target market relate to what the brand aspires to be?
b) Believable — will the market believe the brand claims?
c) Defensible — can the brand withstand competitive challenges
d) Sustainable — are the brand’s attributes built on sustainable differentiators in the marketplace?
Once the brand image has been developed, it must be clearly articulated to key audiences.
Analysts, consultants, bloggers, influencers and journalists are the primary opinion influencers with your prospective customers. There will be multiple brands competing to gain the attention and support of these influencers. The communications challenge is to reach these audiences. Media relations, analyst relations, advertising, social media marketing and event marketing are only some of the key communications vehicles to achieve these objectives. The solution lies in understanding the competitive communications environment, and creating the strategy to create the right message and use the right medium to reach your target audience.