Companies across the world are dealing with not just digital transformation and growing customer expectations, but also the continued pandemic, changing customer priorities and decreased budgets. One way for brands to elevate their position in today’s volatile market is by taking steps to improve their brand strategy.
After the devastating effects of COVID-19 on the marketing industry in 2020, many brands are adamant about making 2021 the year of marketing. CMOs have been planning to strengthen their brand position and deliver exceptional customer experiences to their users. Since the market is still fluctuating, it is critical that CMOs improve and enhance the brand strategy that will not only enable them to attract new customers but also help strengthen their relationship with the existing ones.
CMOs Brand strategy
Establishing the brand purpose
The first step towards re-evaluating the brand strategy is by setting a clear definition of brand purpose. As brand purpose acts as a guiding light for brands and also acts as a catalyst while making informed decisions, it is critical that CMOs have absolute clarity about their brand purpose. If CMOs are not clear about their brand’s purpose, it will be difficult for them to communicate it with the organization and their target audience.
Reaffirming what the brand stands for
If the brand’s purpose is already established and CMOs are confident about it, their goal for 2021 should revolve around spreading and embedding the message across the organization. This includes all the elements such as workforce, processes and technology, and establishing how all of them can work together to be aligned with the brand’s purpose. It means CMOs not only should firmly position their brand’s purpose in the market but also in the hearts and minds of the people and clients.
Among the three factors that make a great brand – consistency, distinctiveness, and relevance – consistency will play a key role in 2021 as customers expect seamless experiences to be delivered consistently, regardless of touchpoint, channel, and geographic location. After firmly establishing the brand’s purpose and communicating it to the customers, CMOs should ensure that they deliver against the expectations and the promises they have set out.
In an increasingly evolving marketing environment, CMOs need to develop strategies to respond to wider societal issues. They need to provide stability and reassurance to their customers and clients that they are striving to do the right thing. While the brand’s purpose doesn’t have to revolve around societal issues, it is necessary to respond accordingly, so that the consumers get to see the human side of the brand.
Focusing on the content
As the number of social channels and touchpoints has increased, brands need to focus on developing their message. CMOs should focus on creating messages that come to life and are engaging and compelling across all touchpoints. Instead of filling channels with the content just for the sake of it, CMOs should develop messages that are creative, emotionally appealing to their audience, and are in tandem with their customers’ ideas.
To build a successful brand in 2021, CMOs must set clear objectives, develop their brand strategy, craft inspiring, creative, and imaginative content and bring it to life using the proper channels to tell the brand’s story and reach its target audience.
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