The art of brand strategy and how to get it right
Discover 5 components of brand strategy that will help build and improve your brand’s equity.
It’s good news: marketing is reclaimed as a key driver of business
Marketers have added a noticeable swagger to their step. After months of cutting back on marketing, the discipline has bounced back and repositioned itself centre stage of the business. Marketing spending growth has returned to historic levels with the projected growth promising to smash the last decade’s trends. It is therefore unsurprising that marketers feel their job has increased in importance. However, the striking truths emerging from the same CMO survey results are that brand remains their primary focus and that building brand value is now perceived as their most important objective.
The challenge? Never in their careers have marketers experienced a consumer change of this magnitude and such nuanced, disorderly and complex newly formed consumer journeys.
Yet the subject of interest (i.e., the consumer herself) has retained one major characteristic: her polygamous behaviour towards brands. Don’t fret; there is order in the chaos. Although what follows is not a comprehensive guide to brand strategy, there are a handful of principles that offer stimulus and direction. Each one will lay a foundation for growth and take you a step closer to stronger brand equity.