It’s at times like these, when the market gets tough, that the tough get marketing – or branding in this case. A clearly defined brand strategy, properly researched and objectivised, is one of your most important success factors, the essential elements of which include:

• Diagnostics – this is the first consideration for any successful strategy. Understand your market orientation from a customer perspective and how it is segmented, who the key targets are and where your equity is. Get your research right and have a clear brand map before embarking on any strategic campaign.
• Proposition and positioning – what do you stand for and where is your position in the market. It’s important to take an objective ‘outside the bubble’ view of your business and understand how you can truly engage your target consumer with a relevant, distinctive and differentiating proposition.
• Clearly defined objectives – having goals that are realistic and achievable –are key. All businesses want more sales, more growth, more profit; however, it is the means to the end that successful strategies are all about. The 4Ps are as relevant today as when they were first outlined by Jerry McCarthy over half a century ago – product, price, place and promotions are still the key building blocks of any successful strategy. They help focus on what is important and meaningful and enable you to make the right strategic choices – for both short-term performance marketing and long-term brand building.

Tactics follow strategy, the latter informs the former to ensure effectiveness and ROI. They are mutually supportive, and tactics alone can be a waste of resource. It’s all about the creation, execution and activation as part of a cohesive brand plan: timings; budget; media channels and platforms; measures of success. Remember, it’s one brand strategy and one brand funnel, don’t let your digital marketeer or PR consultant try and tell you anything different.

Brand planning makes basic marketing sense, in a market where the product is ubiquitous, your brand is your key differentiator, use it wisely.

Myles Pinfold is brand and design consultant at WPA Pinfold, one of the UK’s leading independent brand specialists with over 170 global design awards.

You can get in touch with Myles here.