Your brand is what other people say about you when you’re not in the room.
— Jeff Bezos CEO of Amazon
Do you want your brand to stand out in a competitive environment and be memorable and favourable to consumers? Then something you have to think about from day one is a well-designed and effective brand strategy that will help you go a long way. It sets the foundation for all of your visual and verbal communications and helps to build a brand that has the potential to become iconic.
While it’s worth having a neat name, logo design, and slogan backed by good products, it’s more than just those. Your brand’s inspiration, mission, vision, values and positioning will affect all aspects of the business and can touch customers more deeply if conveyed well.
There is something to think about in the first place. What has inspired your brand? Why does your company exist? Why should anyone care? A purpose-driven brand often has the most exuberant vitality and connects well with consumers emotionally.
Once you figured out the aspirational reason why your company exists, it’s worth developing a strong and concise purpose statement to pass your message along. Here are some examples.
“Tesla’s mission is to accelerate the world’s transition to sustainable energy.”
“Our mission is to be the infrastructure services provider for the blockchain ecosystem.”
We strive to develop a platform robust enough for professional trading firms and intuitive enough for first-time users.
– FTX Exchange
As we can see from the examples above these companies are very clear about what they want to achieve, so they can draw customers who have similar values to them.
This is to describe the future your brand is ultimately working towards. Stating your ambitions clearly will provide a clear guide to the development of your business and helps customers to understand what you want to be in the future. A vision statement that is inspirational can help your brand become more unique and memorable. Check out the examples below.
“We realized that digital currency will impact the world in three main areas. This is what we got excited about when we first learned of bitcoin.” – Coinbase
“Our vision is cryptocurrency in every wallet.” – Crypto.com
“To be the premier purveyor of the finest coffee in the world.” – Starbucks
Steve Jobs once said: “Marketing is about values. It’s a complicated and noisy world, and we’re not going to get a chance to get people to remember much about us.” Starbucks CEO Howard Schultz also said: “If people believe they share values with a company they will stay loyal to the brand.”
Having strong core values helps you create a culture and driving force for what the brand stands for. They also affirm your company’s principles to reach the goals.
For example, Binance’s values include user-focused, freedom, collaboration, hardcore and integrity. Crypto.com values thinking clearly, being resourceful, staying determined, dreaming big, taking ownership and being decisive, and remaining humble.
“Brand positioning is the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market,” says Phillip Kotler, a marketing author and professor.
The goal of a brand’s positioning is to find a differentiator and set your brand
apart from competitors. You need to find that differentiator to be able to stand out in the marketplace and stand for something in the minds of your
customers. Your audience can remember you for something you want to be known for.
Let’s take Amazon as an example. It says “for consumers who want to purchase a wide range of products online with quick delivery, Amazon provides a one-stop online shopping site. Amazon sets itself apart from other online retailers with its customer obsession, passion for innovation, and commitment to operational excellence.”
A tagline is a memorable motto or phrase that’s designed to serve as a permanent expression of your company’s greater purpose and mission.
The goal of a brand’s tagline is to convey the brand’s spirit in the shortest way possible. It’s always good to use a selection of a few very concise and
memorable words that tell the story of your brand., which should be inspired by your positioning.
To sum up, we need to define what we want our audience to remember us for. Giving them an easy-to-remember tagline is key to helping them remember your brand.
Fortune favours the brave. – Crypto.com
Just do it. – Nike
An effective brand strategy will set the tone for your business and is vital to glue existing customers and attract new ones. It sets you apart from your competitors and makes you unique and memorable.