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6 Key Components to a Brand Strategy

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Most business owners assume that brand strategy is not important in the B2B industry, and that it's a concept that only B2C companies should worry about. This has never been farther from the truth. Some of the most successful B2B companies have several components that make up their brand strategy. Here are the six key elements to an effective brand strategy.

Target Audience

Your target audience is otherwise known as the market for your brand. It's the group of people who are most likely to purchase your products or services. Since the buying process is so complex in the B2B industry, you'll need to look at which companies are most likely to buy from you, and which member of these companies will make these decisions.

Will it be a department manager, purchasing manager, or a team of executives? You should answer each of these questions as part of your negotiation training. Depending on your products and services, this decision might involve various decision-makers and influencers. It's important to have a brand story that appeals to all of them.

Customer Service

One of the most important components is customer service. This includes how you deliver your products and services, how your customers are welcomed, and the average wait time to questions and concerns. The customer service experience should be consistent every time a customer enters your establishment or visits your website. This makes customers feel more comfortable with your business because they know the level of service to expect the next time they visit.

Dress Code

Establishing and enforcing a dress code is part of your brand's representation in a couple of ways. First, a dress code adds to your brand's representation since all of your employees are dressed in uniforms that complement the business atmosphere. A dress code has a positive impact on employee's attitudes. Wearing a uniform motivates your employees to work and increases their production. With a dress code, your employees are taking on their role and doing their part in representing your brand in a positive manner.

Brand Perception

You should also take a look at the perception of your brand. Compare it to what it was in the past to what it is now. Determine how you want it to be in the future. One way to do this is to survey your existing customers to find out what they really think.

Is your target audience even aware of your brand? What are they really thinking? How do you want them to feel about your brand? Seeing how your brand is perceived by others is important if you want to change up your business strategy.

Maybe you're looking to expand your business in other markets. Or, maybe you worked with low price providers in the past, and you're looking to move up the chain.

Brand Voice

Finding your brand "voice" is just as important. How do you want your brand to speak to your customers? What kind of personality does it have? Is it corporate and serious, or fun and playful? These answers are dependent on your target audience. Your brand voice should complement the audience you're trying to reach. You want to use this voice to reach out to them.

Brand Positioning

Brand positioning is otherwise known as the kind of position that's determined by your customer. It can be defined by one or two sentences known as a positioning statement that addresses who your brand competes against, the benefits of your brand, your target audience, and a statement of proof that provides your brand promise. Your statement should explain your brand's position within the market and how it compares to its competitors, and what makes it different.

There are several components that make up a brand, including the brand equity, brand persona or voice, logos, and packaging. Your brand strategy is an important tool in developing each of these components so they can work together in the minds of your customers to provide them the courage to make a purchase. This can help you develop your brand strategy.

Your brand strategy has to be consistent and unique. Not following through with your overall value or mission during the process can result in a weaker brand strategy. Having a cohesive brand throughout each of these components can give your business an edge and make it stand out among your competition.

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