Learn the difference between branding and marketing strategies, and how to build a successful brand beyond visuals. Discover the 12-step process for developing an effective branding strategy, as well as different branding strategies used by companies. Get actionable tips and techniques for growing businesses through effective branding strategies at BrandMasterAcademy.com. Understand that planning is not the same as strategy, which involves specifying the competitive outcomes customers want to position your company to win on a playing field of your choice.
What Is the Difference Between Brand Strategy and Marketing Strategy?
The video explains the difference between brand strategy and marketing strategy.
It is important to get everyone with a vested interest in the brand on the same page.
Building brands that go beyond visuals requires strategy, psychology, and creative thinking.
Marketing tactics are individual techniques such as Facebook ads or SEO.
A marketing strategy is a collection of tactics that work together to get attention and drive action.
Brand strategy defines who, what, why, and how a brand communicates its relevance.
Marketing messages rely on the brand strategy for clarity and effectiveness.
Brand strategy without marketing lacks execution while marketing without brand lacks direction; both are necessary for success.
Viewers are encouraged to share their experiences with building brands using either approach in the comments section below the video.
Difference Between Marketing and Branding
Branding is different from marketing.
A brand is a name, term, design or symbol that identifies a seller’s good or service as distinct from others.
Branding manages the meaning of the brand with intent.
Marketing outlines specific activities of how, where and when a brand will promote its products and services to its customers in the marketplace.
Six key differences between branding and marketing are:
Branding is about what and why, while marketing is about how.
Marketing is long-term, while marketing is short-term.
Branding focuses on macro perceptions while marketing focuses on micro actions
Branding sets the trajectory while marketing uses tactics
Branding builds loyalty while marketing generates action
Branding creates value while marketing monetizes that value.
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How Do You Develop a Brand Strategy?
Building a successful brand is not just about logos, colors, or fonts.
Brand strategy is the long-term plan to build a brand’s reputation and influence on its audience.
A good-looking brand identity system is great, but it won’t answer critical questions that need to be answered to connect with an audience.
Without a strategy, a brand might as well be left for dead in the desert.
A brand strategist devises a plan of expression that shapes the intended audience’s perceptions of the business and its values/experience offered.
Visual branding deliverables include logo design, website development, digital assets, etc., while brand strategy deliverables include differentiation/positioning strategies, communication frameworks, etc.
The 12-step process for developing an effective brand strategy includes uncovering your core values/purpose (step 1), defining your target market (step 2), analyzing competitors (step 3), and forging differentiation strategies (step 4).
Other steps involve aligning your archetype/personality traits with those of your target market (steps 6-7), crafting messaging/storytelling frameworks that resonate with them emotionally (steps 9-10), and designing marketing plans/platforms accordingly (step 12).
Developing an effective branding strategy requires careful consideration at every step along the way to ensure alignment between all the elements involved in shaping perceptions of the business/brand being built.
Difference Between Marketing and Branding Strategies
The speaker understands the importance of going native and deep into sales.
The mechanics of selling online require identification, call to action, and knowledge on both the website and Facebook posts.
Lack of links or email sign ups may prevent potential customers from finding the website.
Content should have a link for more information when people are ready to buy.
CTR (Call to Action) is important, but branding is more important in becoming a great brander like Nike or Puma.
There’s a time and place for CTA; it doesn’t have to be on every channel as it can make one look like a sleazy salesperson.
Building relationships with customers is essential rather than just focusing on quick sales all the time.
Trusting goodwill and trust alone may not be enough for people to find their website or make purchases without proper guidance through CTAs or links.
The speaker believes in playing a long game by building depth rather than breadth in business relationships.
10.The speaker values providing value over selling products/services
Best Marketing Strategy Ever by Steve Jobs
Marketing is about values and being clear about what a company wants people to know about them.
Apple is one of the best brands in the world, but it needs investment and care to maintain its relevance and vitality.
The way to bring the Apple brand back is not by talking about speeds and feeds or why they’re better than Windows.
Nike sells shoes, but their advertising focuses on honoring great athletes and athletics rather than talking about their product.
Apple spends a fortune on advertising, but customers still want to know who Apple is and what they stand for.
At its core, Apple believes that people with passion can change the world for the better.
In their first brand marketing campaign in years, Apple wants to communicate this core value by honoring those who have changed the world by thinking differently.
The theme of the campaign is “Think Different.”
The campaign honors misfits, rebels, troublemakers — those who see things differently — because they are often the ones who push humanity forward.
Those who are crazy enough to think they can change the world are often the ones who do it successfully.
What Is Included in a Brand Strategy
A brand strategy is more than just a name or product.
It gives a company or product personality and competitive advantage.
The name, logo, and visual identity are part of the brand, but not the whole thing.
Defining what the brand means, why it exists, who it is for, and how to win over competitors is important in creating a successful brand strategy.
The deepest values and beliefs of the brand must be reflected at all points of contact to create recognition.
Creating a visual identity before making a brand strategy can constrain the brand.
The goal of a brand strategy is to align how the ideal customer perceives the brand with how the brand wants to be perceived.
It is up to those working on branding to find out this information and bridge any gaps between perception and reality.
Branding should reflect core values consistently across all platforms
Branding should aim to attract customers by reflecting their needs.
Brand Development Strategies with Examples
The video discusses different brand development strategies used by companies and marketers.
Brand development strategies refer to whether a new product is launched under an existing brand or a new one.
The line extension strategy involves introducing minor tweaks to an existing product, such as offering a hybrid variant of the Toyota Camry.
Brand extension strategy involves launching a completely new product under an existing brand name, such as Toyota Prius.
A new brand strategy involves launching a completely new product under a completely new brand name, such as Toyota’s Scion car.
Multi-branding involves offering the same products under different brand names, such as when schools change their name to shag off the bad reputation associated with earlier names while still providing quality education.
Companies use these strategies based on various factors , such as customer perception and market competition.
Examples are given for each type of strategy discussed in the video.
The purpose of this video is to clarify concepts related to brand development strategies.
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Brand strategy and marketing strategy are both essential components of a company’s overall business strategy, but they focus on different aspects of a company’s operations.
Brand strategy involves creating a unique and differentiated identity for a company, product, or service in the minds of customers. It is a long-term plan that encompasses the overall perception and positioning of the brand in the market. The goal of the brand strategy is to establish a strong and favorable brand image that resonates with the target audience and sets the company apart from competitors. Brand strategy includes elements such as brand values, brand personality, brand promise, brand positioning, and brand architecture. It provides guidance on how the brand is communicated, perceived, and experienced by customers.
Marketing strategy, on the other hand, focuses on the specific actions and tactics employed to promote and sell products or services. It is a more tactical and short- to medium-term plan that outlines how the company will achieve its marketing objectives. Marketing strategy involves understanding the target market, developing compelling messaging, determining the marketing channels to use, setting pricing strategies, and designing promotional campaigns. It encompasses activities such as market research, product development, pricing, distribution, advertising, public relations, and digital marketing efforts.
In summary, brand strategy is about shaping brand perception and identity in the marketplace, while marketing strategy focuses on specific activities and tactics to promote and sell products or services. Brand strategy provides the foundation for marketing strategy by establishing a strong and consistent brand image, which is then leveraged in marketing efforts to drive customer engagement and loyalty. Both brand strategy and marketing strategy are interconnected and should be aligned to ensure a cohesive and effective approach to building and promoting a company’s offerings.