Today we welcome guest blogger Barry Chandler of Storyforge. Barry and his team are experts at developing compelling brand stories, and he’s sharing some of that knowledge here today with excellent insights on building a brand strategy. Be sure to follow Barry on Twitter.
“My PR team isn’t getting me results.”
“Social media doesn’t work for my business.”
“My print ads don’t give me a return on my investment.”
We hear these and similar statements regularly.
Many business owners are looking for a magic pill that cures the ailment and wonder why individual, one-off campaigns and tactics don’t deliver the goods. The harsh reality is that not only is there no single magic pill, but there really is only one prescription for a business looking to grow and that is to start with a brand strategy.
Building a brand strategy is the foundational work that inspires and informs every subsequent activity in a business from hiring to product development, marketing, sales and more. We wouldn’t build a house without a secure foundation, yet business owners often build their walls without a thought given to the quicksand they’re building on. Rather than hoping for the individual campaigns to create your strategy (hint: that never works), the only proven way to business growth is by starting with the strategy. Where I come from, we like to say that you need the map BEFORE you enter the woods. Business is no different.
While a brand strategy for a company can run to 100 pages or more (it can also start on the back of a napkin), I’ll do my best to summarize its most important points here.
Key Elements of a Brand Strategy
A brand strategy (irrespective of the company or industry) always follows the same rules and intention. It is the how, what, when, and to whom you plan on communicating your product or service, aligned with your company goals.
- It should start with your own beliefs: “As a company we believe that x, y, z…..”.
- It should contain your values. Those values will normally stem from your beliefs.
- To truly allow your organization to execute with precision on your beliefs and reach your goals, the brand strategy must contain your Unified Vision, which is a vision for the next, 5, 10, 20 years of your company in terms of company goals aligned with your previously stated beliefs.
- Next you’ll want to list your differentiators. What truly sets you apart from your competition? Can you prove that you are truly unique in these areas?
- Finally, define your target audience. What does your ideal customer look like? What is their demographic? What do they read? Where do they live? The more customer insights you can glean, the greater the chances of success.
These are the key areas of building a brand strategy. Once such an exercise has been completed in your company, the output should be a document that is signed off on by leadership and then shared internally as the official direction and positioning document of the company. Companies that scale efficiently follow their brand strategy with dedication. While it can’t predict every direction your business may take, it should inform decision making in every area of the business such as HR, PR, marketing, sales, etc. Now you’ll have a much better chance of success with PR, social media campaigns, print media and more because your goals will be aligned, your audience defined and your strategy clear.
Does your business have a brand strategy? Have questions for Barry about how to build the most effective strategy? Leave your comments below!
Barry Chandler is the founder of Storyforge, a boutique brand consultancy focused on creating preference and margin for exceptional companies. Barry has been building award winning businesses since launching his first company in Ireland in 2003. His last company, Chandler Interactive, a digital marketing agency, was acquired in 2012 by a California based publicly traded entertainment company which then hired him as Chief Marketing Officer. It is his belief that the greatest products and services remain undiscovered due to lack of a strategic brand strategy; a situation he lives to change!
