How can brand strategy elevate your market position?
The B2B world is a crowded competitive space. Few businesses have true product or service differentiation. So how can you actually stand out?
In a rapidly shifting marketplace, companies must ensure that their brand strategy is not only current but also deeply informed by extensive data and analysis. As a brand strategy agency, we specialise in guiding organisations through this complex and critical process, employing a scientific approach that draws upon multiple data sources, including competitor and market position analysis, internal surveys, customer interviews and focus groups. In this article we are sharing our brand strategy process to show how the gathering and interpreting of data can, and should, inform your strategic decisions.
What makes a good brand strategy process?
Brand strategy should be a comprehensive exercise that defines what your brand stands for, the promise it makes, and the personality it conveys. It is not just about your logo or your website; it is about aligning your business objectives with the perceptions and needs of your customers. The steps typically include:
- Defining objectives: Understanding what your commercial objectives are.
- Data capture and analysis: Gathering both qualitative and quantitative information from stakeholders to get a range of insight. Analysing this data from an internal perspective vs an external perspective can reveal strengths and weaknesses to be addressed
- Competitor and market analysis: Gathering data to be able to analyse potential gaps in the market and opportunities for your proposition to stand out
- Strategic development: Formulating your strategy based on insights and designed to support delivery of your commercial objectives
- Implementation: Executing the strategy across all touchpoints.
- Measurement and adjustment: Evaluating the effectiveness and making necessary adjustments.
Data and analysis at the core
What data sets can help you make the best brand strategy decisions? The following areas are ones we believe are essential is giving you a really solid understanding of the commercial landscape and the people you need to engage.
Competitor analysis and market position
To shape a distinctive brand strategy, it’s important to first understand the competitive landscape and market position. Our methodologies are used to assess competitors’ strengths, weaknesses, opportunities, and threats (SWOT analysis). We meticulously study market trends, customer needs and technology advancements. This assessment not only benchmarks your brand against competitors but also reveals gaps in the market that your brand could fill.
Internal surveys and focus groups
Insights from within your own organisation are invaluable. Internal surveys can uncover employees’ perceptions and beliefs about the brand, revealing misalignments and areas of strength. Focus groups with your teams can further delve into the nuances of these insights, providing a depth of understanding that quantitative data alone cannot offer. This also ties into our belief that an employee led brand journey is a more successful one.
Customer interviews and focus groups
Direct feedback from current and potential customers is a goldmine for brand strategy development. In-depth interviews and/or focus group discussions can shine a light on customer experience, brand perception and the decision-making process. This direct voice of customer data is crucial for creating a brand strategy that resonates with your target audience.
The value of an external agency
Objectivity and expertise
An external agency provides an objective viewpoint that is often difficult to achieve internally. When we work with clients, we’re in a privileged position – we have no vested interest in internal politics or existing biases, which enables us to collect and present data without prejudice. This objectivity is particularly important when the findings are contentious. For instance, in B2B businesses, an external agency can often uncover and articulate challenges that internal stakeholders might overlook or be reluctant to address.
Presentation to stakeholders
Once data is collected and analysed, presenting it back to decision-makers in a meaningful way is crucial. An experienced agency knows how to translate complex data into strategic insights that are both understandable and actionable. The ability to communicate the implications of the data effectively ensures that stakeholders grasp the strategic direction and rationale. Challenging stakeholders to make significant change – if it is required for competitive advantage, for example – is a vital part of this process. Data driven proof, along with a big helping of intelligent persuasiveness, will result in the best long-term outcomes for a business.
Success stories in B2B environments
Within B2B we’ve have been pivotal in redefining brand strategies based on robust data collection and analysis. For example, when we worked with a global B2B manufacturing firm we conducted competitor analysis which revealed the need to focus messaging on their high levels of customer service rather than product differentiation. The result was a realigned strategy that highlighted their holistic customer focus, emphasised their employees (which made them feel proud to be a part of it) and proved to be a key differentiator in their market.
The good, the bad and the ugly
Not all insights uncovered during the brand strategy process will be positive, but all findings are valuable. Negative insights are often the most valuable. They provide a clear opportunity for improvement, while positive feedback reinforces your brand’s strengths. The strategy process will ensure that every piece of data, every insight, and every customer voice contributes to a robust, informed, and strategic brand positioning that sets you apart in the marketplace.
Building a stronger brand
Defining a successful brand strategy in today’s competitive landscape requires a data-driven approach. This will help you clearly define a stronger market position with a more compelling value proposition. One that will connect with your customers. And your employees will be more engaged along the way.
This foundation will then inform the creative process – design backed by insight and data.
This is what builds stronger brands.