How to Develop a Successful Brand Strategy in 10 Steps

How to Develop a Successful Brand Strategy in 10 Steps

Your brand is perhaps your professional services firm’s most valuable asset. If this is true, then developing a stronger brand is your most important task (that’s why we developed our Brand Building Guide). Not convinced? Consider what a professional services brand is.

Your Brand Defined
 

A professional services brand is best understood as your firm’s reputation and it’s visibility in the marketplace. The strength of your brand can be measured as Reputation X Visibility.

There is another important dimension of your brand as well: how relevant it is to your target client audience. More about that later.

Brand Development Defined
 

Brand development is the process of creating and strengthening your professional services brand. As we help firms develop their brands, we divide the process into three phases.

  • The first phase is getting your brand strategy right and aligned with your business objectives.
  • Second is developing all the tools you will need to communicate the brand, such as your logo, tagline and website.
  • Finally, there is the phase of strengthening your newly developed or updated brand.
     

Your brand development strategy is how you go about accomplishing these tasks. To make the task a bit easier, we’ve broken the brand development strategy into 10 steps.

A 10-Step Brand Development Strategy
 

1. Consider your overall business strategy.

strong, well differentiated brand will make growing your firm much easier. But what type of firm do you want? Are you planning to grow organically? Your overall business strategy is the context for your brand development strategy, so that’s the place to start. If you are clear about where you want to take your firm, your brand will help you get there.

2. Identify your target clients.

Who are your target clients? If you say “everybody” you are making a very big mistake. Our research clearly shows that high growth, high profit firmsare focused on having clearly defined target clients. The narrower the focus, the faster the growth. The more diverse the target audience, the more diluted your marketing efforts will be. So how do you know if you have chosen the right target client group? That’s where the next step comes in.

3. Research your target client group.

Firms that do systematic research on their target client group grow faster and are more profitable (see figure below). Further, those that do research more frequently (at least once per quarter) grow faster still.

Research helps you understand your target client’s perspective and priorities, anticipate their needs and put your message in language that resonates with them. It also tells you how they view your firm’s strengths and your current brand. As such, it dramatically lowers the marketing risk associated with brand development.

Brand Development - The Impact of Research on Firm Growth and Profitability

4. Develop your brand positioning.

You are now ready to determine your firm’s brand positioning within the professional services marketplace (also called market positioning). How is your firm different from others and why should potential clients within your target audience choose to work with you?

A positioning statement is typically three to five sentences in length and captures the essence of your brand positioning. It must be grounded in reality, as you will have to deliver on what you promise. It must also be a bit aspirational so you have something to strive for.

5. Develop your messaging strategy.

Your next step is a messaging strategy that translates your brand positioning into messages to your various target audiences. Your target audiences typically include potential clients, potential employees, referral sources or other influencers and potential partnering opportunities, to name a few of the usual suspects.

While your core brand positioning must be the same for all audiences, each audience will be interested in different aspects of it. The messages to each audience will emphasize the most relevant points. Each audience will also have specific concerns that must be addressed, and each will need different types of evidence to support your messages. Your messaging strategy should address all of these needs. This is an important step in making your brand relevant to your target audiences.

6. Develop your name, logo and tagline.

For many firms, a name change is not required. But if you are a new firm, are undergoing a merger or are burdened with a name that no longer suits your positioning, a name change may be in order. Even if you don’t change your firm name, a new logo and tagline may make sense to better support your brand positioning.

Remember, your name, logo and tagline are not your brand. They are ways to communicate or symbolize your brand. You must live it to make it real.

And don’t make the mistake of showing the new logo around internally to get a consensus. The name, logo and tagline are not for you. They are for your marketplace and should be judged on how well they communicate, not how much the partners like them.

7. Develop your content marketing strategy.

We could have called this step “develop your marketing strategy.” But we didn’t. Instead we call for a content marketing strategy.

Why? Content marketing is particularly well suited to professional services firms in the Internet age. It does all things traditional marketing does but it does them more efficiently. It uses valuable educational content to attract, nurture and qualify prospects.

Remember that your brand strength is driven by both reputation and visibility. Increasing visibility alone, without strengthening your reputation, is rarely successful. That’s why traditional “awareness-building” advertising or sponsorships so often yield disappointing results. On the other hand, content marketing increases both visibility and reputation at the same time. It is also the perfect way to make your brand relevant to your target audiences. Case closed.

Related: 5 Brand Killing Beliefs You Must Avoid

8. Develop your website.

Your website is your single most important brand development tool. It is the place where all your audiences turn to learn what you do, how you do it and who your clients are. Prospective clients are not likely to choose your firm solely based on your website. But they may well rule you out if your site sends the wrong message.

Further, your website will be home to your valuable content. That content will become the focus of your search engine optimization (SEO) efforts so that your prospects, potential employees, and referral sources will find you and learn about your firm. Online content is central to any modern brand development strategy.

These days, professional services websites come in two varieties. The first is a branding site. Such a site tells your story and conveys who you are, who you serve, and what you do. In short it conveys your brand message. The other variety does the above and also generates and nurtures potential new clients. We call these High Performance Websites.

9. Build your marketing toolkit. 

The next step in the process is to build out the remainder of your marketing toolkit. This might include one-page “sales sheets” that describe core services offerings or key markets served. In addition, there may be a brief “pitch deck” that overviews the firm or key offerings and an e-brochure about the firm. These are rarely printed pieces anymore.

Increasingly this marketing toolkit also includes videos. Popular video topics include firm overviews, case studies or “meet the partner” videos. Key services offerings are also very useful. If prepared appropriately, these tools serve not only a business development function but also are important for brand development.

10. Implement, track, and adjust.

This final step in the brand development process may be one of the most important. Obviously a winning brand development strategy doesn’t do much good if it is never implemented.  You might be surprised at how often that happens. A solid strategy is developed and started with all the good intentions the firm can muster. Then reality intervenes. People get busy with client work and brand development tasks get put off… then forgotten.

That’s why tracking is so important. We strongly recommend tracking both the implementation of the plan as well as results. Did the strategy get implemented as planned? What happened with the objective measures, such as search traffic and web visitors? How many new leads, employee applications and partnering opportunities were generated? Only by tracking the entire process can you make sure you are drawing the right conclusions and making the right adjustments.

There you have it — a 10 step brand development process to drive the growth and profitability of your firm.

Lee Frederiksen
Brand Strategy
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Lee Frederiksen is a rare combination of businessman and research scientist. An award-winning marketer and business strategist, he draws on his Ph.D. in behavioral psychology ... Click for full bio

China's Push Toward Excellence Delivers a Global Robotics Investment Opportunity

China's Push Toward Excellence Delivers a Global Robotics Investment Opportunity

Written by: Jeremie Capron

China is on a mission to change its reputation from a manufacturer of cheap, mass-produced goods to a world leader in high quality manufacturing. If that surprises you, you’re not the only one.


For decades, China has been synonymous with the word cheap. But times are changing, and much of that change is reliant on the adoption of robotics, automation, and artificial intelligence, or RAAI (pronounced “ray”). For investors, this shift is driving a major opportunity to capture growth and returns rooted in China’s rapidly increasing demand for RAAI technologies.

You may have heard of ‘Made in China 2025,’ the strategy announced in 2015 by the central government aimed at remaking its industrial sector into a global leader in high-technology products and advanced manufacturing techniques. Unlike some public relations announcements, this one is much more than just a marketing tagline. Heavily subsidized by the Chinese government, the program is focused on generating major investments in automated manufacturing processes, also referred to as Industry 4.0 technologies, in an effort to drive a massive transformation across every sector of manufacturing. The program aims to overhaul the infrastructure of China’s manufacturing industry by not only driving down costs, but also—and perhaps most importantly—by improving the quality of everything it manufactures, from textiles to automobiles to electronic components.

Already, China has become what is arguably the most exciting robotics market in the world. The numbers speak for themselves. In 2016 alone, more than 87,000 robots were sold in the country, representing a year-over-year increase of 27%, according to the International Federation of Robotics. Last month’s World Robot Conference 2017 in Beijing brought together nearly 300 artificial intelligence (AI) specialists and representatives of over 150 robotics enterprises, making it one of the world’s largest robotics-focused conference in the world to date. That’s quite a transition for a country that wasn’t even on the map in the area of robotics only a decade ago.

As impressive as that may be, what’s even more exciting for anyone with an eye on the robotics industry is the fact that this growth represents only a tiny fraction of the potential for robotics penetration across China’s manufacturing facilities—and for investors in the companies that are delivering or are poised to deliver on the promise of RAAI-driven manufacturing advancements.

Despite its commitment to leverage the power of robotics, automation and AI to meet its aggressive ‘Made in China 2025’ goals, at the moment China has only 1 robot in place for every 250 manufacturing workers. Compare that to countries like Germany and Japan, where manufacturers utilize an average of one robot for every 30 human workers. Even if China were simply trying to catch up to other countries’ use of robotics, those numbers would signal immense near-term growth. But China is on a mission to do much more than achieve the status quo. The result? According to a recent report by the International Federation of Robotics (IFR), in 2019 as much as 40% of the worldwide market volume of industrial robots could be sold in China alone.

To understand how the country can support such grand growth, just take a look at where and why robotics is being applied today. While the automotive sector has historically been the largest buyer of robots, China’s strategy reaches far and wide to include a wide variety of future-oriented manufacturing processes and industries.

Related: Smooth Tomorrow's Market Volatility With a Smart Approach to Robotics & AI

Electronics is a key example. In fact, the electrical and electronics industry surpassed the automotive industry as the top buyer of robotics in 2016, with sales up 75% to almost 30,000 units. Assemblers such as Foxconn rely on thousands of workers to assemble today’s new iPhones. Until recently, the assembly of these highly delicate components required a level of human dexterity that robots simply could not match, as well as human vision to help ensure accuracy and quality. But recent advancements in robotics are changing all that. Industrial robots already have the ability to handle many of the miniature components in today’s smart phones. Very soon, these robots are expected to have the skills to bolster the human workforce, significantly increasing manufacturing capacity. Newer, more dexterous industrial robots are expected to significantly reduce human error during the assembly process of even the most fragile components, including the recently announced OLED (organic light-emitting diode) screens that Samsung and Apple introduced on their latest mobile devices including the iPhone X. Advancements in computer vision are transforming how critical quality checks are performed on these and many other electronic devices. All of these innovations are coming together at just the right time for a country that is striving to create the world’s most advanced manufacturing climate.

Clearly, China’s trajectory in the area of RAAI is in hyper drive. For investors who are seeking a tool to leverage this opportunity in an intelligent and perhaps unexpected way, the ROBO Global Robotics & Automation Index may help. The ROBO Index already offers a vast exposure to China’s potential growth due to the depth and breadth of the robotics and automation supply chain. As China continues to improve its manufacturing processes to meet its 2025 initiative, every supplier across China’s far-reaching supply chains will benefit. Wherever they are located, suppliers of RAAI-related components—reduction gears, sensors, linear motion systems, controllers, and so much more—are bracing for spikes in demand as China pushes to turn its dream into a reality.

Today, around 13% of the revenues generated by the ROBO Global Index members are driven by China’s investments in robotics and automation. Tomorrow? It’s hard to say. But one thing is for certain: China’s commitment to improving the quality and cost-efficiency of its manufacturing facilities is showing no signs of slowing down—and its reliance on robotics, automation, and artificial intelligence is vital to its success.

Want all the details? Download the ROBO Global Investment Report - Summer Brings Best ROBO Earnings in Six Years or visit us here.

ROBO Global
Robotics and AI
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ROBO Global LLC is the creator of the ROBO Global® Robotics and Automation Index series, which provides comprehensive, transparent and diversified benchmarks representing the ... Click for full bio