If I ask you: Which brand is stronger, Coca-Cola or Pepsi? We would agree that the former is superior, right?
But why? It may be because of its taste ...
Well, not really. Dozens of reports, blind-tests, and even FMRI studies were done, and in almost all of the taste tests, the winner was always Pepsi. So, if the vast majority of us choose the latter in terms of flavor, why does Coca-Cola leads the market?
There are several factors that make this company the undisputed leader, but the main factor is simple: A brand that was strategically developed from its beginnings.
Yes, a solid brand strategy can make the difference between success and failure, but what is a brand strategy?
Strategic brand development is about a long-term plan that encompasses the goals and objectives that are sought to be achieved with the evolution of the brand, forming the components that give it its identity. A properly designed and executed brand strategy generates results in all aspects of the business, and connects effectively with the needs and motivations of our target customers, but also acts as a link between marketing and the corporate strategy of an organization.
This clears up a major misunderstanding that is often heard/read: Your brand is NOT simply a product, a logo, or a name, but encompasses a myriad of intangibles and concepts that identify a company. We invite you to carry out a very brief test, which we publish on our Instagram profile, in reference to this topic. You can access it by clicking here.
Now, is a brand strategy actually essential? I know what you are thinking, these people are dedicated to developing brands, of course, they are going to tell me that it is essential.
Well, sorry for disappointing you but no ... In fact, there are many great companies that were born without a clear brand identity, they simply found the right product-market fit and that is how they emerged. There are even clear examples of brands that, due to demographic or cultural changes, had their identity seriously affected and still continued to grow, as is the case of cigarette companies, which some 30 years ago, when their effects on the market were not studied. health, they were promoted and identified as something cool, relaxing, and even many companies were strongly related to the world of sports. And today, having lost all logical arguments and positive identity, they still stand. But, without a doubt, having a strong and clear strategic brand development can be an incredible advantage and help us achieve a strong positioning and organic and sustainable growth. (That's right, like Coca-Cola).
Now, to achieve a solid and effective brand strategy, we must be clear about some elements.
Purpose: Every successful brand or company has a clear purpose that goes beyond generating profits. How was the brand born? What is the ultimate goal of the company?
Knowledge of our target clients: If we know in-depth our target client, their frustrations, their motivations, their needs, and their objectives, it will be much easier not only to connect with them but also to develop solutions that really add value. In other words, instead of thinking "Our company offers services for professionals in the creative sector", we must start to focus on that "We provide X solution for people like Juan, a passionate graphic designer who seeks to grow his client portfolio without sacrificing profitability".
Identity: Having a clear purpose and knowing our target clients in-depth, we must be clear about the identity of our brand, here we must achieve harmony between the values we transmit and the essence and way of being of our clients.
Consistency: The visual homogeneity of the brand comes into play here, in terms of colors and styles, but above all the consistency and congruence of our messages, our actions, and our identity. What we show, offer, and say, does it fit our purpose? Are we consistent over time with our messages?
Being (REALLY) clear on these factors not only leaves us better positioned in our industry, but also allows us to develop a solid and effective brand strategy that enables us to retain customers and strategically position ourselves.
Want to know more? We invite you to contact us :)
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