A brand is one of the most important assets of any business. It’s the main identifier that represents your business and is the image your clients imagine when your business is mentioned. That’s why it’s essential to invest time and effort in creating a brand strategy that will effectively shape your business. A brand strategy by definition is a long-term plan for the development of a brand to achieve its specific goals. A well-designed brand strategy can help improve your business in various ways, such as connecting with consumer needs and emotions and enabling you to succeed in a competitive environment.
Brand strategy precedes design and execution so that you apply insights and address business objectives in those deliverables. The elements of brand strategy we’ll look at in this article are:
- Mission statement
- Brand vision
- Core values
- Brand personality
Brand mission, vision, and values
A mission statement defines what the purpose of your business is for both your employees and your customers. It carves a clear path for your business and is the mission that everyone associated with your brand lives by. If you fail to create a clear mission statement, it can mean that your overall purpose as a brand is misinterpreted by consumers – or they simply don’t know what to expect from your brand.
Your mission statement should be able to excite your consumers as well as your employees. It should mainly focus on what your brand wants to achieve, and it should aim straight to that goal.
An example of a mission statement
“The Walt Disney Company’s objective is to be one of the world’s leading producers and providers of entertainment and information, using its portfolio of brands to differentiate its content, services, and consumer products. The company’s primary financial goals are to maximize earnings and cash flow, and to allocate capital toward growth initiatives that will drive long-term shareholder value.”
Disney is clear in its goals and how it wants to achieve them, as well as the benefits this will provide.
Identifying what your vision should be determines how your brand will move forward. A vision describes what your business will be like and how your consumers will see your brand in the future. It should be something that will create an impact that is both aspirational and inspirational. Your vision should clearly identify what your ambitions are and the purpose of your brand. When developing your vision statement, there are some questions that can help you craft something effective and memorable:
- Why are your products or service important?
- What makes your business unique?
- How will your future customers describe your brand?
Focus on your future strategies, story, and metrics that allow your brand to help your consumers. Your vision should give your consumers an idea of how your brand can affect them.
Example of a vision statement
“JetBlue Airways is dedicated to inspiring humanity. We strive to make every part of your experience as simple and as pleasant as possible. But we know there can be times when things do not go as planned. If you’re inconvenienced as a result, we think it is important that you know exactly what you can expect from us. That’s why we created our Customer Bill of Rights. These Rights will always be subject to the highest level of safety and security for our customers and crew members.”
This shows JetBlue’s aspirations, but also addresses practicalities – this honesty and transparency is also something appreciated by consumers and helps to create a level of brand trust.
Your brand’s values should show integrity while being competitive with and differentiating you from other brands. For any brand, the main purpose of its values is to show what qualities you value in your culture. Your values guide your business in making good decisions that will benefit both your company and your consumers.
Brand values should also show how your business will stand out competitively and create a culture in which those values can be expressed and acted upon by all your employees. Brand values can also help to set the tone of your brand.
Strong brands have values that clearly define the manner in which they will reach their future objectives and goals.
Your brand personality is what conveys your values, mission, and vision. It is the character of your business and how you communicate your brand to the world. Your brand personality can consist of:
- Your main colors
- The style of your images
These elements combined serve as a guideline for your consumers and what message you want them to receive. Being consistent gives your consumers a clear idea of who you are and what you have to offer. The main purpose of critically constructing a clear brand personality is to know how to set out your visual assets in such a way that is memorable for your consumers.
A great example of a brand personality is how Coca-Cola use their logo. When you see or hear anything about their brand you know what to expect and how it has affected the beverage industry. They have an established brand personality that helps them stand out against their competitors.
Keep Reading: Defining the brand for a global ed tech titan
How are a Brand’s Mission, Vision, Values, and Personality Related?
It’s important to focus on all these elements, as focusing on just one or having inconsistencies can effectively slow business growth. You must also think of them as a collective rather than considering mission, vision, values, and brand personality are in isolation. This will help create a consistent overall message. All these elements are closely related and can help you set the appropriate framework for your business. Combining them effectively can help your business achieve more and help you further your brand development.
Once your brand is clearly defined by following all these elements, you can effectively go to market. They will help you set your brand the way you want to and help your consumers differentiate your brand from your competitors.
Make your business stand out – contact us to chat about brand strategy for your business.