Why is Brand Strategy Important?
Brand Strategy is important because it gives you commercial advantage. Brand Strategy is critical to every day running and the long terms success of your business.
When your consumer or customer is given a relatively fair and equal choice between brands, similar product/service, distribution, and price, they will choose the brand that is more salient, the brand that fits in and/or reflects their life or aspiration. Saliency is a universally accepted tenant of successful Brand Strategy.
Brand Strategy creates saliency, or should do, because central to the development of Brand Strategy is understanding consumer/customer goals. Brand Strategy is crafted from the understanding of why your consumer/customer buys within the category. If you want to sell more of your product/service, you must first understand why and what is the main reason people buy it!
Brand Strategy has a natural consumer/customer focus that has a transformative or focusing impact on the business itself. Decision making becomes easier when you have a well-articulated brand strategy and consequent direction. Digital Marketing requires daily management, when you understand the role, purpose and personality and values of a brand you can consistently and rapidly respond in the modern marketing landscape. But the importance of Brand Strategy is not limited to marketing. One more time because this is always the biggest learning from the Brand Strategy process: The importance of Brand Strategy is not limited to just Marketing. With clear brand direction based on consumer goals you can: repurpose and optimise consumer/customer sales points and practices (physical and digital); you can shed, focus, or increase product lines and service offerings and their price ranges; you can focus on what really matters to consumers/customers and your staff; and much more.
Modern business is only going to get more complex and demanding. If you create and curate an engaging Brand Strategy, you will have the focus, short-term decision making capability and long-term vision to succeed.
