What are the unexpected bonuses of brand strategy?Transcript
There are numerous things that motivate a leader to create a brand strategy.
- Sometimes a leader is developing copy for an ad, and they don't know what to say. So, they do a brand strategy to discern, "What's our key message."
- Sometimes a leader wants to define the business’s purpose and values, and so, they do a brand strategy as a way to articulate purpose and values.
- Sometimes it’s that a business is about to spend significant money on marketing and they justifiably want those dollars to be well spent well, so they create a tight brand strategy.
All of these are common reasons for doing a brand strategy. And doing a brand strategy will accomplish all of those things.
What surprises leaders is that when they do brand strategy, what they achieve is something more profound than these original motives. Here are some of those unexpected bonuses:
- The brand strategy galvanizes culture-building as you build something meaningful.
- The brand strategy informs what the product roadmap should be.
- The brand strategy clarifies who the company needs to hire. It clarifies needed shifts in the org chart.
- The brand strategy shines the light on partnerships, who to partner with and who not to partner with. It shows your distribution channels which to grow and which ones to exit.
- Finally, an unexpected bonus of brand strategy is that it makes your role as a leader more rewarding, more fun, more satisfying. It feels like you're getting more output for less input. It enables decisions that are faster and more cohesive. Crystal clear focus is life-affirming.
What was your initial reason for defining your brand? What did you actually get from it?
Remember, brand strategy does increase marketing and things obviously associated with brand. But its real power is in creating a North Star for everything you do.