The branding company or brand strategy is a tool that apply to develop a solid long – term brand. It is building your brand, transforming a logo or a name into ideas, sensations and experiences that will speak of your company or SME.
With an optimal brand strategy you will be able to differentiate yourself from your competition and obtain greater benefits in the market.
We can define 3 types of brand strategies whether it is a large company, SME or self-employed.
A unique branding strategy is based on assigning the same brand to all the products offered by a company or freelance.
A multi-branding strategy involves assigning a different brand to each type of product that a business offers.
The umbrella brand strategy is one that supports the different multiple brands of different products, that is, a single brand serves different products, which are part of different markets.
Importance of a brand or branding strategy
Having a strong and effective brand strategy is important because …
Build emotional bonds with customers so they build long-term loyalty.
Promote an idea association when you receive publicity, even if they are not looking for your product. For example, many people ask “Is there Coke?” when they go to buy another similar product.
Make a difference between what you offer and your competition’s product.
Focus on the long-term objectives of your company, thus you will define who you are, what you offer and how you do it. That will tell you future decisions and strategies.
Strengthen marketing, since a brand attracts an audience and helps you define the marketing associated with that audience.
In conclusion, a good brand strategy encompasses more than a logo or a name, it is the internal and futuristic feeling of your company . So, try to define objectives that include emotion and that generate loyalty in your customers. Try to innovate and compensate your customers. Thus, you can cause a greater impact in the market with your company branding.
In an increasingly competitive market, finding a market niche has become a highly complex challenge. The consumer and how they consume change , and not always the management of the organization or the internal professionals, immersed in the day to day, have the capacity and resources to investigate, adapt and implement the necessary actions to be able to compete in the new rules of the game.
60% of companies in Spain lack a strategy to attack the digital changes that the new market has imposed, especially after the impasse of the pandemic.
In this sense, the conservative corporate culture continues to prevail, with a misconception that betting on the outsourcing of marketing consultancy will entail a high cost and not a medium and long-term investment of high profitability.
The external and independent marketing consultant sees the company from a holistic perspective: it lacks the ‘vices’ and internal inefficiencies that the day-to-day business generates, the bad habits and the duplications that in many cases are generated, in especially when the company has several locations.
This distance is vital to identify which are the most efficient and profitable solutions for the organization, aiming beyond the sales objectives and seeking the permanence of the business. The impact of the action of an external consultant is evidenced in sales, organization, customer service or the communication itself.
All marketing consulting is based on four basic pillars : research, definition, innovation and adaptation. And all this from the particularity of each project, client and market. Hence, it is so important to hire specialized services with a long proven track record, with real results.
How do you know if your business needs it?
Most of the entrepreneurs come with the doubt of knowing if it is the moment to outsource the marketing consulting or if they can do that function from within. What elements can help you make the decision?
If you are starting with your project and you do not have a marketing professional that fits the needs; If it is the owner himself who absorbs this function but does not have time to carry it out due to the amount of simultaneous tasks that they consume on a day-to-day basis, they are more than important reasons to consider outsourcing the marketing consultancy.
If, on the contrary, you have personnel with the capacity and knowledge to put the strategies into practice, but you lack the time to propose them or you are looking for a new groundbreaking approach to your own dynamics, the external marketing consultant will be a punctual, profitable, affordable and effective.
When a business is in an initial phase, it needs to generate base results in the short term to feed the gear of the organization that provides greater income and greater profitability. Hiring new internal staff, even if they bring experience in the sector, implies a mutual learning curve that is incompatible with generating results in the short term. On the contrary, the external independent professional has this previous background in the sector and in other sectors so they know with greater knowledge of the facts what works and what does not.
All in all, you are probably still wondering if you really need to hire the marketing consulting service for your project. Keep reading.
How does a marketing consultancy work?
So far we have listed the benefits and what an outsourced marketing consultancy can bring. But how does it work ?
The companies that offer professional marketing consulting have cross-sector groups, with experience in each sector, and extensive specific training, which generate internal support dynamics to maximize the results of the projects addressed.
In parallel, the marketing consulting company draws a sketch of what the current service or product is and how to improve it – in all its aspects – so that it is what the target audience demands, or to give an anticipated response to a need not yet identified. This includes everything from designing a winning product or service to managing the pricing strategy or identifying how to optimize costs to be more competitive.
With all this information, the marketing consultant designs the most appropriate strategy , plans and sales channels for each area, as well as promotional plans in all of them in the medium and long term.