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Why is Brand Strategy Important?

In the realm of digital marketing, there are many closely-related components that work together to produce the desired results of connecting with new audiences. Tools for reaching audiences, including marketing practices and brand strategy, are used for long-term positioning of a company’s online presence. Unfortunately, digital marketers often overlook the crucial relationships between marketing and brand strategy, lessening the potential impact these individual components have. In this guide, we will explore the value of focusing on brand strategy and how it works to drive business growth.

Branding: The Foundation of a Company’s Online Voice

In every industry, companies use branding to define themselves and what they stand for. Branding serves to tell a story; for example, insurance agencies can use branding to reposition themselves in a competitive marketplace, launch new products or services, or simply let the world know who they are. When people think of companies, they are likely focusing on the visual images and logos those companies use in marketing materials and online content. This is the “brand” that has been established, and it has powerful influences on consumer behaviors.

What is Brand Strategy?

In simple terms, brand strategy is the collection of factors that work to guide your company’s interactions with your customers. As branding can be simple or complex, so too can one’s brand strategy. In general, however, there are six key components of a robust brand strategy:

Positioning – the space the company occupies or wishes to occupy in its given market.

Vision – the goals and aspirations of the company, both now and into the future.

Mission – typically presented as a statement, the mission is the description of your business and what it represents.

Personality – the characteristics that define and embody the company’s brand and its products or services.

Voice – the style of communication that reflects the company’s personality.

Visual Factors – the distinctive colors, shapes, logos, and text used in marketing materials that both reflect and reinforce the brand’s personality and voice.

All of the decisions a company makes must take into account these brand strategy components. The ultimate goal is to create a unified brand that is easily recognized and distinct in its market niche.

Why is Brand Strategy So Important?

Brands tell consumers about a company and what it offers. Brand strategy is the foundation of that connection between consumers and the companies they choose to do business with. Brand strategy, then, guides and shapes the brand as it is created and disseminated to audiences.

Because brand strategy is so important, it has several discrete benefits for the company itself as well as its customers. First, brand strategy provides focus and purpose throughout the marketing process. When the components of brand strategy are kept front and center, employees “buy in” and work toward the same overall objective. This focus also helps to keep marketing costs within budgets; when a company does not have a clear branding path, the tendency is to spend money on marketing that may not produce the desired results.

Second, a brand strategy facilitates communication between a company and its customers. A cohesive brand is recognizable and consistent, and that improves engagement with customers. A consistent brand also strengthens bonds, leading to a loyal customer base.

One aspect of brand strategy that is overlooked is that a strong brand also has the ability to attract top talent to a company. People want to work for companies that stand out in their industries, and a consistent, recognizable, and powerful brand represents the strength of the company. Employee engagement with a powerful brand builds energy within the company, often leading to those employees becoming great ambassadors for the company and its brand.

Finally, a strong brand strategy ensures that your company remains distinct and unique within its industry. The power of a widely-recognized brand can be felt over both the short and long terms; by attracting new audiences and strengthening the bonds with existing customers, a brand strategy will help any business continue to grow and to gain success well into the future.

About Neilson Marketing Services

Since 1988, Neilson Marketing Services has been implementing innovative marketing solutions and strategies for our clients in all areas of marketing. Contact us today at (866) 816-1849 to put our talent, expertise, and vast resources to work for you. Let’s make things happen, together!

 

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Think about where you want to be next year, in five years and even in 20 years as the insurance industry evolves. How will you get there? Do you have the resources in place? The talent? The strategies? Neilson Marketing Services can help you plan for tomorrow today. Give us a call at 800.736.9741 or complete the form on this page. One of our account representatives will contact you to start making results happen.

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