Written by: Deb Gooha
About the author: Chief Marketing Officer Fintech | Ex Marketing, Brand & Alliance Head National Payments Corporation of India
The days of designing a traditional brand strategy is over, the digital ecosystem has added new fields to the foundation of brand strategies. Learning how to apply the new brand science to data with a convincing approach to drive and validate brand marketing strategy is in.
It is a constant exercise to understand buyer psychology, measure the impact of your brand using advanced data tools, on a quarterly, half-yearly basis, and create messages that inspire the market. Make the emotional connections with your buyers and align for what you stand for with what consumers care about. Learning more about the emerging field of brand psychology and how beliefs influence purchasing behavior are being adopted by consumers across geo-locations. Creating customized branded content to establish the brand and establish an emotional connection with geo-specific buyers through the use of social media, digital marketing, and brand research has become increasingly challenging for brands to have one strategy across markets. What works in India will not work in the UAE or the US.
Right from thinking through the brand name, conducting conflict checks before committing to any final brand name and tag lines, which trigger the thoughts and emotions of buyers, and play a decisive role in your brand strategy. To learn the nuances of differentiation to understand how you can discover the strengths of your brand and turn them into a competitive advantage in the minds of buyers. Selling products to customers through differentiation, price competition, and marketing through the use of social media, digital marketing, and brand research is critical for a GTM strategy.
Positioning and owning a place in buyers “minds is more important today than it was a decade ago. Learning how customers interact with your brand to decide what you want to promote, what your brand stands for, and what it should stand for and how well your existing storytelling, messages, campaigns, and creatives represent it, is essential. Determine the critical elements of the brand to differentiate, creating a unified brand experience, inspire, and position your brand, product, or service in the minds of buyers through a thoughtful an effective brand strategy which is clearly understood and adhered to by all parties involved in the acquisition and support of your customers is vital.
Identifying all such touchpoints of your brand, gaps in your brand analysis, and creating a timetable for updates in the market place by collecting market feedback and reviewing strategies and revisiting brand touchpoints, such as customer service, marketing, social media, product development, and roadmaps, with a reinforced campaign is critical. A great strategy is useless without a plan to implement it. Translating brand strategy into daily marketing activities, by setting out the vision, big ideas, and geo-specific actionable tactical approach is important for success.
In this hyperactive digital age, learning about the emerging fields and how it works, from the best brands in the field is always encouraging. Brand science lead by data science and behavioral economics is a central part of all brand marketing strategies, not only for your brand, product, or service but for the entire world.