Brand Strategy - The Ultimate Investment

July 19, 2024
5 min read

Most small business and non-profit leaders wear multiple hats simultaneously - you are marketers, bookkeepers and customer service representatives. Heck, you might even be running a one-man show! So we get it: time is money… but so is trust.

You might be thinking, “Huh? Trust?” What does trust have to do with anything? Trust is money. How your customer base perceives your brand directly affects your profit margins and your brand legacy. Your good standing and reputation in the marketplace affect not only your wallet but also your brand currency.

What do we mean by that? Let’s ask ourselves: How much trust does your audience have in you to deliver your promises? Can your brand survive slow periods? Will people continue supporting you over time? 

The way to build your brand’s currency of trust is through brand strategy. 

A flatlay of cash and coins sitting on a pale blue background.

Without a strategy, you (and your business) may as well be treading water aimlessly. When marketing materials and messaging don’t fit your brand, customers lose faith that you can deliver your promises. Your brand appears shallow. Temporary, even. 

This blog will answer the following questions:

  • What is brand strategy?
  • How is brand strategy an investment?
  • What happens when brand strategy is executed well?
  • What happens when you miss the mark?
  • How do you create a brand strategy?

Let’s get into it.

What is Brand Strategy?

First things first, let’s define brand strategy. Brand strategy is your company’s long-term game plan to guide, develop and communicate the brand. It’s not a one-time action, but an ongoing process that allows customers to know:

  • WHO you are
  • WHAT you do
  • WHY you do it
  • HOW you do it
  • WHO you do it for

Think of your brand strategy as the underlying framework that guides your decisions, from external communications to customers to internal decisions within your organization. 

What is Involved in Brand Strategy? 

  • Customer Experience (Overall impressions of customer interactions)
  • Brand Positioning (How you differ and are better than your competitors) 
  • Target Audience (Who your company is helping)
  • Brand Identity (Elements of your brand like visual design)
  • Messaging (Language and tone of voice used as a brand)

We discuss brand positioning and its importance in our blog “Brand Positioning: Your Tips For Building Brand Legacy.” Want to differentiate yourself from your competitors successfully? Give it a read to learn more here.

An infographic about brand strategy, showing a mindmap on a yellow and purple background.

Need to create a strong brand strategy? Spark & Pony is here to help. Get in touch here.

Your Brand is a Bank Account

Steve Jobs believed that a company’s brand works like a bank account… and we agree. 

“...When the company does good things, such as launch a hit product or a great campaign, it makes deposits in the brand bank. When a company experiences setbacks, like an embarrassing mouse or an overpriced computer, it’s making a withdrawal. When there’s a healthy balance in the brand bank, customers are more willing to ride out the tough times. With a low balance, they might be tempted to cut and run….” 

Excerpt from “Insanely Simple: The Obsession that Drives Apple’s Success” - Ken Segall

A flatlay of wads of cash on a pale pink background.

Your brand is a bank, credibility with your customers is your currency, and trust in the brand is the compounded interest gained along the way. 

As business owners, you already know that customer retention is essential to your success. Converting a new customer can cost up to five times more than retaining a current one. 

So, how can you build credibility with your target audience? A good brand strategy.

Build Brand Credibility

A well-executed brand strategy creates positive and consistent experiences for your customers and makes deposits in your account. So, what is included in a strong brand strategy?

  • Good customer service
  • Consistent messaging
  • Services and products that align with your customer's needs
  • Consistency with brand fonts and colours
  • Social media posts that offer value to your customers

A poorly executed brand strategy creates negative and inconsistent experiences with your customers and makes withdrawals from your account. Just what is included in a weak brand strategy?

  • Partnering with businesses that don’t align with your values
  • Confusing messaging
  • Adding services that don’t fit within your business’ ecosphere
  • Using your logo inconsistently
  • Using inconsistent design choices and creating inconsistent social media content

If you need an example of an inconsistent brand experience, Colgate launched a frozen dinner product line in 1982. That’s right, the toothpaste company. This unexpected product was outside their scope and didn’t align with their business values or expertise, leaving customers skeptical and confused. 

Case Study: Cocokind

Let’s explore Cocokind, a brand with a well-executed strategy and positive brand currency. Labeled online as a conscious skincare brand, what sets it apart? 

Priscilla Tsai, founder of Cocokind, started the brand to change the status quo of the beauty industry. Their brand messaging echoes values of sustainability and self-positivity, like “Enter our World of Skin - You’re Enough Here” and “Conscious Skincare. Plant-powered, sustainable, affordable, and cruelty-free.”

How do they ‘deposit’ into their brand?

  • Their platforms and social media accounts voice things that matter to people
  • Incredible transparency about product pricing, formulations, and ingredients (all ingredients are listed and explained on the packaging)
  • They believe that skincare is physical and psychological and focus on self-esteem initiatives
  • Sustainability initiatives include no animal testing, vegan products, and carbon footprint ratings on all packaging

These values and initiatives are part of their identity and strategy, guiding all aspects of the business. This includes when Cocokind decided against expanding into China in 2017 due to its animal testing laws, choosing their brand values over potential profits. Or again, when they started the “#BoldEnough” pledge on social media to avoid face-altering filters as part of their self-esteem campaign. It had nothing to do with product sales but was a natural extension of the company’s values. 

A screenshot of the Cocokind website, with their branding language "skincare with substance".

These are the signs of GREAT brand strategy and execution! Their customers trust the brand and stick to their products because they know Cocokind stands by its promises. 

Read: A Roadmap To Creating An Inclusive Brand

Case Study: Dollskill

On the other hand, let’s discuss a brand that has faced flack from the public. Dollskill, co-founded by former DJ Shoddy Lynn, is an online clothing brand for the rebellious spirit and festival goer. Dollskill was named “Fastest Growing Retailer” in 2014 by Inc. magazine. Their tagline, “For the Misfits & Miss Legits” and all their messaging, visual design and imagery are directed toward rebellious, alternative fashion lovers. 

This is where we run into their brand ‘withdrawals’:

  • Comments under social media posts and across the web from customers complaining about bad customer service and issues with products
  • Lack of transparency about manufacturing and sourcing 
  • Repeatedly accused of plagiarism from other designers and artists
  • Controversy with derogatory and culturally appropriated clothing items featuring messaging that glorified sexual assault and mental health issues like ‘Dead Girls Can’t Say No’
  • Co-founder, Shoddy Lynn, enraged the internet during the Black Lives Matter movement with an Instagram post supporting the riot police force.

Because the brand targets rebellious youth, a socially conscious demographic, many of these actions came across as hypocritical. Dollskill has received cries for boycotting across social media, leaving customers angry and looking for alternatives. So much so, there are multiple YouTube videos about the brand controversy like this.

A website screenshot of the Dollskill retail website, with branding language that says "Unleash your inner IDGAF".

In terms of brand strategy, Dollskill has work to do.

Read: The Importance of Brand Authenticity

An Investment for Your Brand

A ship can’t arrive at port without a compass. The same can be said for a marketing team trying to create an effective strategy without a plan. 

With public credibility as your currency and customer trust as compounding interest,  brand strategy is the ultimate investment you could make for your business. 

How To Create A Brand Strategy

Now, let’s dig into how to create your best brand strategy. 

A quick refresher of what’s included:

  • Customer Experience 
  • Brand Positioning 
  • Target Audience 
  • Brand Identity
  • Messaging 

Research

This is the first and most important step in your strategy process. How can you sell your company’s product to customers when you don’t know your product inside and out? How do you know who you’re selling it to? Or even who you’re competing against?

To fully develop your brand, follow the Three Cs of Marketing: Consumer, Competitors, and Company.

Consumer - your target audience, including demographics like age, gender identity, income, politics, or lifestyle

Competitors - other businesses who solve similar problems and provide products like yours, and their strengths and weaknesses

Company - your brand’s identity, values, strengths and weaknesses, and products or services

The Three C’s of Marketing are key to your brand positioning. Understanding your company’s position in the market and customer’s hearts and minds is essential to your overall branding success.

Want to learn more about brand positioning? Read: Brand Positioning: Your Tips For Building Brand Legacy

Problem-Solving

Now that you’ve identified your ideal consumers, your marketplace competitors and WHO your brand is… it’s time to spotlight how your brand betters the world. 

In the words of Bigweld, “See a need, fill a need.” 

Problem - Begin by identifying a problem your audience has and that your product/service solves. The more specific, the better!

E.g. Many young people today struggle to focus on tasks due to digital overwhelm. With the prevalence of distractions and doomscrolling, it can be hard to put the phone away. 

Conflict - Every story has conflict, like in a novel. Highlight the urgency of solving this problem and the consequences of not solving it.

E.g. Doomscrolling has negative mental health effects, like anxiety, sadness, anger, brain fog, and more. A lack of focus can lead to decreased productivity affecting your career and personal goals. Digital well-being is crucial in today’s digital world!

Solution - Your product/service is the hero of the tale! Show your audience how your brand makes a difference in their lives. 

E.g. Meet Opal! The #1 Screen Time App that can block out notifications and apps to keep you focused. Monitor your screen time and make the most of every day.

A screenshot of the Opal app website, with branding language that says "Focus is hard."

Repeat after us: Problem. Conflict. Solution.

Brand Identity

You’re now in an excellent position to focus on your brand identity, including brand tone, messaging, and visual design (such as your logo and brand colours).

While you may have a brilliant product/service that solves your audiences’ concerns… terrible branding will kill your success. We can’t imagine Coca-Cola or McDonald’s would be as successful today if they didn’t have memorable logos, colour schemes, and taglines. 

Read: Why Design and Visual Branding Matter

Invest In Your Best Brand Strategy

Your brand is a bank, and by having a strong framework that guides your actions, you’re investing in your ‘brand currency’ and future success. 

If you’re ready to invest in your business, you’re in the right place! We’re branding experts - with expertise in graphic design, copywriting, and web design - and are here to make you look and sound good online. View our portfolio here, or contact us for a Brand Discovery Session.

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