How Much Rigor Should Go into Your Brand Strategy?

Your brand strategy should only be as rigorous as your business goals need it to be.

A well-defined brand strategy is the compass that guides businesses towards success.

It articulates what a company stands for and how it will position itself to thrive in the market. The level of rigor required in crafting a brand strategy should align with the business's goals and ambitions. While a B+ brand strategy may suffice for most companies, those with audacious aspirations may require the precision of an A+ strategy. In this article, we explore the spectrum of brand strategy rigor and how it impacts business outcomes.

The Spectrum of Brand Strategy Rigor

Brand strategy rigor exists on a spectrum, with a B+ strategy being sufficient for businesses with modest goals and spending. Consider El Diablo, a contented coffee shop with a single location and a small marketing budget. A few hours and dollars invested in a B+ brand strategy would serve them well, providing a focused North Star to maximize their output with minimal input.

On the other end of the spectrum lies Adobe, a global corporation with substantial resources and aggressive growth targets. For companies of this scale and ambition, an A+ brand strategy becomes imperative. While it may involve significant investment, the returns, when amortized over vast marketing spend, justify the endeavor.

Determining the Right Strategy for Your Business

To determine the level of brand strategy rigor your business requires, evaluate your performance against key outcomes that a brand strategy accomplishes:

1. Elevate Pricing Power

A compelling brand empowers a business to charge premium prices, especially when facing stiff competition and price pressures. Evaluate whether your brand enables you to command a premium for your offerings.

2. Command Attention, Understanding, and Trust

A strong brand cuts through the clutter and captures audience attention effortlessly. It fosters trust and understanding, making it easier for customers to choose your products or services. Reflect on how well your brand accomplishes this task.

3. Foster Loyalty

A compelling brand forges a strong bond with customers, reducing churn and fostering loyalty. Assess whether your brand effectively keeps customers loyal to your business.

4. Galvanize Employees

A powerful brand also resonates with internal audiences, attracting and retaining top talent. Consider how well your brand motivates and empowers your employees to align with your vision.

5. Broaden Your Moat

An exceptional brand sets your business apart, creating a unique customer bond that competitors cannot replicate. Evaluate whether your brand differentiates your business effectively.

6. Heighten ROI on Marketing

A well-crafted brand strategy identifies your unique value proposition, enabling targeted marketing efforts with a strong ROI. Reflect on how effectively your brand maximizes marketing investments.

Choosing the Right Strategy

If your business performs well on the above outcomes and has modest ambitions, a B+ brand strategy is likely sufficient. By deliberately defining your brand, you can unlock clarity and economic value that will help your business thrive.

However, if your business falls short on these outcomes or has audacious goals, it may be time to invest in a more rigorous brand strategy. Allocating resources to craft a precise A+ strategy can yield substantial returns, especially when competing with larger businesses and navigating challenging market conditions.

Crafting a Winning Brand Strategy is a Powerful Exercise

For most companies, a B+ brand strategy is more than enough to achieve success. However, businesses with audacious aspirations and significant resources may benefit from the precision of an A+ strategy. Choose the level of rigor that suits your business best and unlock the full potential of your brand to thrive in the market.