Top 7 Gen Z brands in India

Top 7 Gen Z brands in India

 

Right now the world is entirely about dynamism. The thing you see trendy right this moment may not be the highlight the very next day. This liveliness is sometimes a boon, but it is tough to catch up with the flow of vigorous changes. Now reaching out to the new younger Gen Z era, being “Cool” is what matters! These Gen Z people are more into brands, flash sales, trends, and are more conscious of self than that of the previous generations. And this is what that keeps them adhere with dynamism or the ‘Cool Factor.’

 

After millennials, Gen Z made their evolution. Now the pretty part is that they are outnumbered. For a country like India, with the second largest population, the count of Gen Z is outnumbered. Besides, if we count the Gen Z population alone, China is far behind India. And this says that by the year 2020, India will be the country with the maximum number of Gen Z population. Now at this moment, if you think like “oh they are just kids, what do they know about living,” you are ultimately wrong. These people are going to determine what is best in the Country, locally and globally. Sales, Markets, Brands, Food interests… everything, literally everything is changing according to these people. Since the number of these people are pretty huge, investing in their interest could deal with some money yeah! Now talking about dynamism, since gen Z prefer things to be trendy and top, the country itself is focusing on new trends so that they can adapt it. Since Gen Z is more self-centered, they exactly know what they want and when they want it. Now, this is challenging to the brands around the globe to act spontaneously as the younger generation in town. But if you are planning to be over smart and thinking that you can easily fool the younger generation, you are one dumb guy. These gen Z people are self-aware too. They don’t believe in gimmicks; they are logical.

 

Being in such a world is a bit difficult. But there is a loophole. There is a pattern to these instinctively changing habits of the youngsters. If the brands can tackle it out, they are indeed safe. Talking about such brands, now we can discuss the top brands. They are not just Top brands; they are Gen Z top brands! Distinctively spontaneous and dynamic ones, I repeat, impulsively diverse and trendsetting! (What? Its Gen Z guys, the ones before “I repeat” is no more trending after it!) Roger that!

Instagram

Top 10 Gen Z Brands in India - Instagram

 

Double taps are more interesting than the Like button! Gen Z dumped Facebook for Instagram. Facebook was so far a millennial thing right now. While foreign countries Gen Z dropped Facebook for Snapchat, Indian Gen Z chose Instagram instead. Instagram itself acts as a Gen Z influencer, and this adds high market values.  (Tip: If you are planning to influence Indian Gen Z, then roll on to Instagram and try something appealing!)

Nike

Top 10 Gen Z Brands in India - Nike

 

If you are asking what Dynamism is, the one-word answer could be ‘Nike.’ Nike is so so Gen Z! Nike is an adapting brand, and it knows the pulse of Gen Z. The campaigns, new launches, and ads are created in such a way that it shows what exactly a Gen Z needs. It’s a bit confusing to decide whether it is Nike driving the Gen Z or the vice versa! The ‘so cool’ personality of Nike along with its influence and momentum is what that drives the new kids crazy. Nike’s authenticity and diversity play a key role in that.

Netflix

Top 10 Gen Z Brands in India - Netflix

 

Netflix was blooming some time ago, but all of a sudden, it became a new trend. Or it can be said as the other version of being ‘cooler’! If you have a Netflix account, you are literally considered as the coolest person ever, like they say ‘Netflix & Chill’! The reason for this is primarily the original content presented by Netflix. Netflix is following the pattern for Gen Z, and they know what Gen Z wants to watch. Netflix is keeping updated with Gen Z entertainment shows, and this is so appealing to them.

Amazon

Top 10 Gen Z Brands in India - Amazon

 

Millennials we like ‘okay’ to online shopping but Gen Z, they are going gaga over online shopping. And Amazon has no competition in that. With the evolution of Prime products and Amazon Pay, Gen Z is finding their interests in Amazon. And Amazon, with their vast campaigns, are reaching out to Gen Z. Amazon is keenly observing Gen Z trends, and technically, they lure Gen Z by setting flash sales, lightning deals and Offer days.

Fastrack

Top 10 Gen Z Brands in India - Fastrack

 

Fastrack is yet another style statement, and for Indian Gen Z, Fastrack is so in the trend. When it comes watches, Bags, and Sunshades, Gen Z ultimately depends on Fastrack whereas for Millennials it was always Titan.  The diversity and bias in stuff made recognition, and this created an impact in Gen Z shopping experience with Fastrack.

Uber

Top 10 Gen Z Brands in India - Uber

 

Uber is so cool for Gen Z. Millennials actually inherited their liking for Uber to the Gen Z. Gen Z people consider that it is cooler to travel in Uber than to own a two-wheeler. Also, there is a significant increase in Gen Z people choosing Uber over rickshaws and Transportation buses. The brand is more consistent in case of Uber and yet dynamic with a wide range of choices. Now this attracts the youngsters to trust in Uber than the other transportation mediums.

Jio

Top 10 Gen Z Brands in India - Jio

 

When we are talking about Indian Gen Z brands, Jio cannot be skipped. Within a lesser span, Jio made a huge number of customers, and it is not a wonder if I say, most of them are Gen Z. As the Godfather said, “I am gonna a make him an offer he can’t refuse,” Jio made Gen Z an offer they could never refuse. It became a market storm and seriously a game changer for all the other corresponding brands. And surveys say that one in every five teens has Jio connection. I kind of wonder what that other four are using!!

 

For millennials, it was Ralph Lauren and Abercrombie. But for Gen Z, you can’t predict. Brands are evolving, restructuring and pacing up, along with the trends. Now when millennials preferred preppy brands, Gen Z is all into cooler kinds of stuff. Now if I say that the globe is turning along with trends of Gen Z, would you dare to deny?

 

Four Successful re-branding stories that were on point!

Branding trends are getting swiped off day by day because of some cut-throat competitive ideas in the market. Rebranding has become a bend in the mainstream and brands are running vaguely behind this trend to create or recreate (technically), a fresh appeal to their brand. Though the trend is in the hype, there is a higher risk when it comes to the application level. The target is to collect a set of new customers without losing the existing one. Now that need hell a lot of work else the worse the up! Here you can find four diverse rebranding stories that went out right will every element.

Starbucks

rebranding stories starbucks

The coffee giant Starbucks rebranded themselves in 2011. The dropped their wordmarks and created a new variation to their siren logo. Until then, Starbucks was only focusing on diversified coffee items, but with the rebrand, they have also dabbled in ice creams and alcohols. And with the change, the company became more recognizable than before.

Airbnb

In 2014, Airbnb made a rebrand with a fresh identity and a fresh color palette. The logo had a drastic change with all the new typography and fresh brand mark. The logo illustrations made recognition in social media because of its illustration but with negative publicity. The criticism made the brand famous, but with time, Airbnb made the customer realize the effectiveness of the rebrand.

rebranding stories airbnb

Instagram

Instagram was rebranded in the year 2016. The rebrand-response was so average. The majority didn’t come up with the change, but the identity was done with a fresh, flat and gradient-oriented. With the rebranding, they have also added features such as Layout, Hyper-lapse, and Boomerang. With this rebrand, Instagram became an integrated platform reverting to a better mobile experience.

rebranding stories instagram

Mc Donalds

rebranding stories mcdonalds

Mc Donalds had that significant influence even before rebranding to its new identity. But with the rebranding, McD got globalized and became a symbol of Westernization rather than being a simple American food chain. The rebranding felt a bit same as Starbucks, but even then, McD made 40% extra revenue with the rebranding. Concepts like happy meals and health conscious products made recognition with the rebrand.

A quick health check for your brand in the new year

With 2018 kicking in, do you know how well your brand is performing? Here is a quick 10-min test that might just help you to know if your branding and strategic decisions are taking you in the right direction, present status of your brand health, and thus helps you in analyzing your brand, so you know the next measures you should be taking.

This quick test for your brand is surely not scientific, but it will surely give you a hint as to where you might want to focus on your brand, and might consider taking a deeper research.

So here is the test. Below mentioned are certain points, on a scale of 1-10, assign each of the statements a score (10 being the best). This will be the assessment of your company’s health and performance. At the end of the questions, just add up the score where 100 will be the best score possible. That easy!

 

Strategy:

1. The organisation’s mission / vision and purpose are elaborately defined and quiet inspiring

2. The brand positioning and strategy are very clearly made and easily differentiable

3. The leadership team and the management at the organization tell the same unified story about the brand

4. The employees also clearly understand the brand story and convey the same

 

Support:

5. The tone of communication by the brand is well defined and its guidelines are in place

6. The organization is using state of the art graphic trends with established rules

7. The company’s brand architecture is clear, and in return guides product branding decisions

 

Brand Effectiveness

 

Execution:

8. The organisation’s message to its existing consumers is crisp, clear and to the point

9. The company’s social media efforts and online experience resonate with the brand communication norms, and follow the brand story and architecture

10. The external market branding is also in sync with the brand

 

So how did your brand fare? Were you able to decipher the areas of improvement that your brand is looking at? Were you able to rate your organization against each of the statement mentioned? If you think your brand might be facing a problem, then this is the time to take the corrective measures.

Bottom line – Keep close tabs on your brand’s performance. How would you ever know your brand is performing well, if you don’t measure its effectiveness!

 

From all of us at Whyletz, we wish you a healthy, happy and hearty 2018!

Action is Paramount to a Successful Brand Strategy

You are what you do, and not what you say you’ll do.

The simple truth which proves itself time and again in the business world.

Strategy and planning are crucial for the success of any kind of execution. But, without action, these remain just words. Actions are necessary to translate an idea to reality. It is only the reality that can be sensed, measured, evaluated and refined.

At the basic level, Brand Strategy is nothing but Strategy! A good brand strategy is the one that is constructed around well defined and orchestrated set of functional and emotional experiences that one wants their customers to experience when they communicate with the company. Strategy and Action, both are indispensable to Brand Building and that is the reason, many organizations suffer at the hand of execution in spite of having built beautiful websites and content.

 

Having worked extensively with companies to execute their Branding Strategies, here are some points that ensure an appealing reality experienced by customers.

  • Brand Roadmap: The roadmap allows the organization to identify the initiatives, both, internal and external which play a key role in delivering the (customer) experience, which the Brand Strategy aims for. It also enables the decision-maker to begin to execute and take action immediately with clear set priorities and assigned resources.
  • Customer Experience Innovation: One of the most critical and time taking process. A successful Brand Strategy is always associated with a set of customer experience innovations that align with what people think when they interact with the brand. E.g. if the brand strategy is built around notion of agility, Brand roadmap should be designed in such a way that it improves and delivers customer experience while reinforcing agility at every step.

Customer Experience

 

  • Corporate Narrative: The strongest brands tirelessly focus on re-shaping the industry dynamics in a manner that is completely in sync with their own brand vision and strategic growth plans. This can be achieved through a carefully designed corporate narrative, which presents an inspiring yet believable future that can be made possible by the company’s unique value and perspective.
  • Measure: The old saying “You cannot manage what you can’t measure” could not be more true! Brand performance needs to be measured and managed at regular intervals, which needless to say, needs to be done with precision. This is an important step, as regular check-ups will help the organization take the corrective measures in time and help in achieving the intended goal.
  • Employees First: Last but not the least; your employees are your key to develop your brand. Employees’ clear understanding and avid endorsement of the brand strategy (with its purpose, vision and benefits) are essential to ensure customer interactions result in the desired impression and associations. Let’s remember – Brands are created by the people, for the people!

 

Action is paramount to realize the potential of any Brand Strategy, as long as it is resolute, planned, smart and honest. Else, it is just motion.

Which branding structure suits your organisation?

Branding, as it stands today is quite critical for any product being launched. Depending on which organization it is coming from, a good branding strategy can either help a brand stand out from the rest of the products launched by the company or stand very much among them while communicating a story in complete synchronicity.

This can be distinctly understood by the two methods of branding discussed below: Individual Branding and Umbrella Branding.

 

Individual Branding

Johnson & Johnson brands

When an organization launches a myriad of products under different bands of brands, it is known as Individual Branding. For example, Johnson & Johnson has Dettol as the antiseptic range, Neutrogena as the women skincare range, and has kept Johnson & Johnson separate for the baby care line of products.

Umbrella Branding

Amul-brands

Whereas Umbrella Branding is a technique where new products are launched under the same family or the umbrella name. Here, none of the products are disintegrated to form another umbrella and every product being introduced in introduced under the parent umbrella. For example, Amul has a line for milk, butter, cheese, buttermilk, ice cream under the very same brand of Amul.

Coming to strategically think of it, while Johnson & Johnson had to start from a scratch while it launched Neutrogena, Amul ghee or cheese while being launched just coined on the brand name of Amul which had already been established in the market. But at the same time, if there is one quality flaw in Amul, e.g. Amul Milk does not meet the quality benchmarks then the whole of the brand Amul suffers including the butter, cheese, and ghee line-ups.

Pros of Umbrella Branding

  • A new product being launch under an Umbrella or Family can always pull leverage on the already established brand image in the market. It need not have to compete in the market with its competitors and establish a ground for itself.
  • Cost of brand creation is also minimized for the new product introduced in the line-up.
  • Umbrella branding helps the new product position itself rightly in the market, in the initial phase itself.
  • Advertising and promotional activities can be all combined, with only parent brand being advertised while all the products in the line – up are advertised automatically.
  • Cost of Advertising and Promotions is grossly reduced, as marketing for individual products is not required. One promotion for the parent brand acts equally for all.
  • Benefits from economies of scale and product range efficiency
  • Can offer sales and combine promotions across many categories and markets
  • There is a huge scope of upselling the products. If the consumer has one good experience with one of the products of the brand, they will not mind exploring the other products under the same brand.

Cons of Umbrella Branding

  • Quality of brands within Umbrella band may vary
  • Impact of bad publicity will impact the entire brand
  • Easy to overextend the umbrella brand
  • Difficult to achieve distinct brand identity

Pros of Individual Branding

  • Each product has its unique image
  • Facilitates the positioning process, can position all the products uniquely without making trade-offs
  • Works best when a company has several unrelated products
  • The company does not tie its reputation to any product – if one product fails, the entire organization’s image or name is not hurt.

Cons of Individual Branding

  • More efforts are required to establish the brand
  • More finances are required to establish and keep up the brand
  • All the promotions and adverts are distinct and need to be done separately for each brand
  • Can cause an imbalance within the company as no clear brand lines are present

Though, while there are many branding techniques, given the pros and cons, these two might help to decipher the start of the technique being put into practice. Aiding the organization to understand if the product’s interest lies in sync with the Parent Brand or need to carve a niche of its own.

Individual or Umbrella, the real focus lies in if the brand and product are complementing each other and how the brand links to its consumers! We have a lot many examples of both kinds around us. While Amway, Amul, Google, FedEx etc. are examples of good Umbrella Branding, Johnson & Johnson, Proctor & Gamble, Hindustan Unilever are successful examples of Individual Branding.

The Brand Strategy Roadmap: How To Guide Your Brand’s Successful Future

Why is Brand Mapping Important?

Brand mapping is used to understand the positioning of a brand with respect to the attributes in any brand. In brand mapping, a large number of attributes are shown on the axis and a number of brands are rated on several of these attributes i.e areas of interest of customers.

Marketers have always had to juggle two seemingly contradictory goals: making their brands distinctive and making them central in their category. Central brands, such as Coca-Cola in soft drinks and McDonald’s in fast food, are those that are most representative of their type. They’re the first ones to come to mind, and they serve as reference points for comparison. These brands shape category dynamics, including consumer preferences, pricing, and the pace and direction of innovation. Distinctive brands, such as Tesla in cars and Dos Equis in beer, stand out from the crowd and avoid direct competition with widely popular central brands.

brand map graphic
Centrality v/s Distinctiveness of the Brand

Striking the right balance between centrality and distinctiveness is critical, because a company’s choices influences not just how the brand will be perceived, but how much of it will be sold and at what price—and, ultimately, how profitable it will be. And yet, marketers have lacked the tools needed to get this balance right.

Traditionally, companies have analyzed brand positioning and business performance separately. In order to locate the gaps in the market and gauge how people feel about their brands, marketers have used perceptual positioning maps, which typically represent consumers’ perceptions of brands or products on opposing dimensions, such as budget versus premium or spicy versus mild. To assess performance, they have used a different set of strategic tools that map or measure brands on yardsticks such as market share, growth rate, and profitability.

 

Brand Roadmap Plan Elements

Vision: What do you want your brand to be in the next 5-10 years? Vision gives everyone on the brand a clear direction, it should be measurable (quantitative) and motivating (qualitative). It should push you so much that it scares you a little, but excites you a lot.

Purpose: Why does your brand exist? Keep asking yourself why you do this, to find the personal motivation hidden in the brand. Articulating your purpose can be a very powerful way to connect with both employees and consumers, giving your brand a soul.

Values: core beliefs of the brand that shape the organization as to the standards, behaviors and expectations. The brand has to be able to stand up to and consistently deliver each value.

Goals: What do you need to achieve? Specific measures of brand health and wealth, related to consumer/customer behavioral changes, metrics of key programs, performance targets or milestones on the pathway to the vision. It’s the brand scoreboard.

Key Issues: What is getting the way from achieving your vision/goals? Deep analysis highlights what’s driving and holding the brand back, as well as future risks and untapped opportunities. Issues are asked as a question to provide the problem to which strategies become the solution.

Strategies: How can we get there? Strategies are the “How” you will win the market. Choices based on market opportunities, using consumers, competitors or situational. Strategies should have a pinpointed focus providing a breakthrough on the pathway to the brand vision.

Tactics: What do we need to do to execute the strategy? Framed completely by strategy, tactical choices deploy your limited resources against brand projects, the most efficient way to drive a high ROI.

 

The Brand Strategic Roadmap helps gain agreement, makes focused decisions and keeps everyone aligned.

Understanding the Right Brand Architecture and Driving Success

What is Brand Architecture?

Brand Architecture refers to the logical, strategic and relational structure for brands. It is defined as an integrated process of brand building through establishing brand relationships among branding options in the competitive environment.

What is the role of Brand Architecture?

Brands play a huge role in our lives. Some of us work for one of them. Some of us are them. We even know the smallest and latest brand extensions when it comes to a prestigious parent brand. Just like Toyota owns Lexus and Nissan has Infiniti, there exists different types of Brand Architecture in this world that facilitates understanding the brand better.

Monolithic Brand Architecture

In this approach, there is a unique brand name that serves the purpose. It will be associated with all the brand extensions. The brand name here has the major role to play, as it is the one that attracts customers, adds value and drives buying decisions. A monolithic brand architecture capitalizes on deep, established customer loyalty—its target audience cares less about product features or benefits than they do about the brand promise they know and love. The perfect example could be FedEx. FedEx Kinko’s provide different services when compared the parent brand. But shares its credibility by carrying the FedEx factor in it.

FedEx Brand Architecture

Endorsed Brand Architecture

This is exactly the opposite of what we just read above. Here the product names play the key role. The parent brand or company doesn’t make a big impact. Brands or products are independently known for their value and drives purchases. The synergy between them is often mutually beneficial, as well. Examples for Endorsed Brand Architecture include General Motors and Procter & Gamble. Everyone talks about Chevrolet and Opel as different brands. They would even choose Vauxhall over Opel, even though all these brands are under General Motors.

Hybrid Brand Architecture

This is a combination of both. In this context, brand extensions may or may not be given separate identities. They could also be associated with the parent brand depending on the situation. It enables companies to have independent strategies for various brands, and at the same time they could also leverage on the equity of the master brand when required. A good example could be Toyota, Lexus and Scion brands.

These three are the common structures employed in Brand Architecture. When deciding on a structure to be considered, it is essential that it has to be aligned with the organization’s strategy.

Regardless of your company’s size, effective brand architecture can enable you to:

  • Segment your messaging and services so that each of your target audiences hears what they want to hear and gets precisely what they’re looking for.
  • By establishing an intuitive brand architecture, you set the stage to easily add products or services as your brand grows. Your brand becomes a modular entity primed for the addition of new sub-brands. Bolster confidence among stakeholders in the strategic direction of your brand.
  • A brand with well-defined brand architecture is a brand that’s thinking about future growth. And future-minded brands are a reassuring sign for investors and employees alike.
  • When divisions or sub-brands are clearly delineated, customers can understand their unique value propositions. Plus, a customer of one sub-brand is more easily converted to a customer of another sub-brand than a cold customer with no history.

The upshot of all of the benefits above is the most valuable asset for any company: brand equity. Growing your brand equity gives you compound returns as industry authority and marketplace valuation grow with it.

7 characteristics of having a strong brand strategy

A brand strategy can take as many forms as the number of brands that exist in the world. However, they fulfill certain criteria to successfully reach their brand goals. Here are the 7 most important criteria to check if you have developed a good and effective brand strategy.

 

1. Provides a clear overall direction 
Without mentioning the specifics, a good brand strategy tells you the general approach you will have take to meet your goals. Look at Tesla as an example. The electric vehicle (EV) manufacturer could have entered the EV market with a value-optimising car, just as the existing Chevy Volt and Toyota Hybrid did. Instead, Tesla focused on form and function – thereby, creating a whole new luxury sports EV segment all for itself. This is a brand which is anchored by a clear vision and purpose.

 

2. Utilises competitive advantage
A strong brand strategy identifies areas of competitive advantage and takes advantage of these resources to address emerging opportunities. Have a look at the case of world-renowned animation film studio, Pixar. A single film is rumoured to have a production cycle of about 5 years. The brand knows that it has the world’s most creative people on board and, therefore, follows a quality-over-quantity strategy to stay on top.

 

brand consulting

 

3. Minimises resistance and barriers
Newly formed strategies bring about changes to any brand and will always encounter resistance of some sort. This is natural. A good brand strategy takes this into account and does not provide any reason for people to oppose the change in the first place. This is because the strategy has been well planned to account for existing resources and capabilities – especially those of the employees. Employees see the new brand strategy as an opportunity for personal and career growth.

 

4. Has a good system of action in place
A good brand strategy would have a carefully tailored system of value creation. The brand strategy actually addresses the aims of the organisation and the issues faced by the customers. In short, it adds real value. It advances the overall mission of your company and reaches out to those affected.

 

5. Is understood and shared by the entire organisation
Your entire organisation must internalise the strategic direction of your brand. For your employees to be able to do this, the brand strategy must be applicable and relevant to what they do at work every day. Your strategy must be valid and clear enough that corresponding operational and tactical decisions can easily follow suit.

 

branding strategy

 

6. Follows deep analysis of internal and external environments
A good strategy is one formulated after taking into consideration the many influences on the brand – both external and internal. The brand strategy would, therefore, automatically optimise the usage of your brand’s strengths to take advantage of opportunities in the market and ward off any threats.

 

7. Is flexible in adapting to changing conditions
The eventualities you had foreseen in strategy planning won’t necessarily be what occurs during strategy execution. A good strategy takes this into account and is flexible enough to adapt to changing or unforeseen circumstances. For instance, Emirates partnered with Hollywood actress Jennifer Aniston to showcase the wide range of in-flight facilities in a viral ad which put US airlines to shame. Following the recent ban on electronic devices on-board US-bound airlines from certain countries, Emirates recycled the same ad with a different theme: ‘Who needs tablets and laptops anyway?’ Instead of creating an entirely new campaign to address the latest developments, it simply shifted focus to how its in-flight entertainment is the perfect substitute for personal electronic devices.

 

At the end of the day, your brand strategy is the most deciding factor of your customers’ happiness. So, don’t hesitate to spend a good amount of time and effort in modifying your brand to fit our guidelines discussed above.

5 Reasons Why You Need a Digital Marketing Strategy

There is a huge misconception that a digital marketing strategy is required only for big brands with deep pockets. However, the fact is that having a digital marketing strategy, irrespective of the size and scale of your business, can make a huge difference to your end results, if executed properly. A digital marketing strategy is a must for any business that is looking to grow and sustain itself in the long run.

Industry reports reveal that 47% of businesses undertake digital marketing initiatives without a defined strategy. As a result, firms engage in multiple experimental campaigns and end up burning their marketing budgets unnecessarily. While experimenting is good and also recommended by industry experts, it’s important that you set timelines to draw results out of your experiments and also decide on course corrections. An in depth analysis of your ROI out of your digital marketing campaigns and consistent optimization are both critical for achieving great results.

Now that you have understood the importance of having a digital marketing strategy, let’s take you through the top 5 reasons why a digital marketing strategy is required for every business.

 

1. For a clear DIRECTION

You may have a general idea regarding what you want for your business from the digital space. Try to pen down these ideas, along with how you would achieve them? I’m sure you’ll be struck by the numerous thoughts that flow in and you will soon realise that a casual approach wouldn’t help you progress with the general digital plan you initially had in mind.

You’ll begin to think more deeply about your customers, goals and objectives, target market, brand and its unique selling points and a lot more. The process could be pretty overwhelming especially if you’re a beginner or new to the digital environment. But, I bet if you fight this battle and draft a digital marketing strategy for your business, you’ve taken the first step towards achieving your desired results.

 

2. To COMPETE in the online space

Many businesses fail to realise the importance of having an online presence and the proportion of customers they’re losing out only because their business can’t be found on the internet. The loss could be huge and in some cases, your absence could be in fact paving growth for your competitor who has already established himself in the online space. So, make sure you think through these scenarios and carve out your strategies accordingly.

By defining a strategy, you’ll gain a better understanding on how you can leverage your business to attract more online share and what are the essential steps to be taken in order to achieve this. Also, always keep an eye on what your competitors are doing online and what marketing strategies are working for them. You can take lessons from these and improvise & implement your plan in a far more efficient manner. Keep this in mind – your digital plan shouldn’t be just to acquire new clients, it should also focus on engaging existing clients that would make them stay loyal to your brand.

 

3. To INTEGRATE your entire marketing strategy

Digital Marketing works best not when it is performed in silos but when it’s integrated with offline marketing activities. One marketing tactic alone will not help any business. You will have to identify, try and test several channels for your business and mix them in various proportions to achieve full potential.

These days, a mix of online and offline marketing is what most businesses opt for. But when you choose this, it’s important that your entire marketing plan is integrated with both online and offline marketing activities. This is crucial in order to maintain consistency in all your marketing messages among all audiences and across all channels. The key here is to have an integrated marketing plan that publish and distribute integrated messaging across all channels including website, social networks, advertising campaigns, newsletters, catalogues and so on.

 

4. To ANALYZE, OPTIMIZE & to achieve EFFICIENCY

A digital marketing that clearly lists out the metrics you will measure in each stage will help you analyze your results against set benchmarks and also optimize your campaigns to get closer to your defined KPIs. A strategy that is well drafted and integrated would also help your business achieve operational efficiency by avoiding duplication and through better utilisation of available resources. Further, it would help in tracking progress and also re-tuning the strategy in response to changes in the market and evolution of technology. A strategy that is flexible to incorporate such tweaks based on industry trends can become invaluable in helping you ensure that your marketing tactics stay optimized over time and do not fall behind.

 

5. Since the world is going DIGITAL

Yes, the world is no longer ‘going’ digital. It’s already become digital and this is pretty evident by the increasing number of users who are getting online. Checking on a brand’s online and social presence to understand brand maturity or to assess product (or service) quality through online customer reviews and feedback has become a crucial step in almost every customer’s buying journey. Therefore, it’s important your business reaps the benefits out of this mass audience who are present on the internet by formulating a digital marketing strategy tailored to your needs that will ultimately enhance your business profile in the long run.

 

How to Create a Strong Brand Strategy in Three Stages

Brand strategies come in all shapes and sizes. Designing one that fits your brand and company goals is one of the most rewarding and profitable assignments you can engage in. You already know why a brand strategy is important. Your next step will be to formulate a compelling brand strategy. Although every company follows a slightly different path, we are providing here a list of essential steps to create the perfect road map to reach your brand objectives:

 

whyletz blog infographics-02

 

Where is your brand right now?

Have a look at your mission statement, vision and values. What does your brand stand for or believe in? This should be the backbone on which you develop your strategy.

Carry out a SWOT analysis. This gives you a feel of your brand’s current strategic position. Start by conducting an honest internal audit of your brand’s strengths (S) and weaknesses (W) and a realistic study of its external opportunities (O) and threats (T).

Review the data you have collected. Try answering the following questions about your brands:

  • Where is your brand right now? Look at what your customers and employees are saying about your brand. How do you compare to other brands in the market?
  • Do you have a long-term goal for your brand? To what extent has your brand achieved this goal? Have you been following a plan or just been going along with the market?
  • Which of your brand strengths can you leverage? Which of your brand weaknesses are an obstacle to reach your true brand potential?

Having answered the following questions, you can now move on to the next stage in creating a brand strategy.

 

branding strategy

 

Where do you see your brand in the future?

This is a forward-looking stage in brand building. There are quite a few factors to consider when deciding on the goals for your brands. Just as in the first step, take a good look at your vision and mission statements. Your brand, just like any other part of your company, should be working towards the future you want to create for your company. Your brand objectives must be synchronised with your company goals. If you get stuck, try imagining what you would like to see differently in your organisation in a year’s time or in five years’ time. How will, say, increasing your brand awareness help achieve your company goals? If you cannot succinctly answer this, then most probably increasing brand awareness is not the ideal brand objective that fits into the bigger corporate picture.

Your brand goal is to ultimately make your customers view your brand in a particular way. You should be able to answer how your brand being perceived in this specific way will help you reach your company mission and vision.

 

brand strategy goals

 

How can you reach your brand goals?

This is the stage where you use your company values as a guideline to reach your brand goals. An ideal strategy matches your company’s strengths with external opportunities and provides value to your customers at the same time.

Your strategy might be to differentiate your brand from competitors based on certain product qualities or technological factors. Which factor you choose to build your sustainable competitive advantage might depend on your brand strengths, current market demands or trending opportunities. This is where the SWOT analysis you carried out in the first stage comes in handy.

Break up your brand goals into smaller objectives. These are like action plans which should state what, when and how to accomplish and who is responsible for completing. Your brand values should always underlie all these aspects of your short-term performance targets. Set quantitative and financial targets as well so that your brand meets any sales or revenue-related company objectives. List relevant key performance indicators to track your brand’s progress in meeting both short- and long-term objectives.

After all this strategizing, you need to make sure your plans are being properly implemented. Perhaps your chosen way of doing a task is more costly than expected or a certain campaign is not getting you enough leads. It is important to have frequent performance analysis to identify the gaps between actual and desired conditions. Actions to reduce these gaps should immediately be taken. This revision of your brand strategy means that strategizing is a dynamic process which does not have a fixed end.

No one will deny that creating a brand strategy is hard work. It does require time, effort and overall dedication from the company. However, the fruits of all these works, especially the changes in the brand awareness and customer perception, are hard to ignore. That is why we recommend that you spend as much time as you require to take all factors into consideration while designing your brand strategy.