1. What is a brand strategy, defined in your own words?
- A Brand Strategy is a blueprint that connects a product's rational benefits to a customer's emotional desire
2. What are its most important components?
The most important components are an understanding of:
- Customer Segments: Knowing who is the business' customer, and more importantly, knowing who isn't
- Customer Insights: Understanding of the key emotional drivers of the customer.
- What Business are you really in?: Commitment to being in a business that is more than just being a 'product'
3. Is there a special secret recipe to a good brand strategy that you have learned in your career?
- The secret recipe to a good brand strategy is simply keeping the customer at the heart of the strategy
4. Since Brand Strategy is one of the previous stages of the funnel, what impact does it have on the finished product stage?
- The Brand Strategy is actually defined before the funnel starts
- All the stages of the funnel are directly or indirectly influenced by the Brand Strategy, since the brand's promise and behaviour would be reflected across the customer's journey
- At the final stage however, the Brand's Strategy can significantly help in creating Brand Champions - customers who connect strongly to the brand's promise and are happy to recommend and refer the brand to others
Related Post - To-Dos Before You Build Your Brand Strategy
5. Is that impact measurable in numbers?
- Yes. This could be measured by the volume of repeat purchases and referrals
6. What parameters do you think will reflect a perfectly brewed brand strategy?
While the parameters of success will vary from brand to brand, some of the more common branding goals include:
- Increase in Awareness & Visibility of the Brand - between both customers & other stakeholders
- Differentiated Positioning within a cluttered market
- The creation of the Brand's Story which can be told across mediums in different ways