The Evolution of Brand Strategy
Brand strategy has transformed more in the last 10 years than ever before. The role brands play in business, in consumer’s lives and in the world has drastically changed for the better. Brand strategy has evolved beyond a logo, colors, typography, websites or even User Experience. Brands now have a responsibility to not only provide immediate value in products or service, but must also go as far as stand-up for a purpose, provide ongoing memorable experiences through the consumer journey and even establish and build relationships with their consumers on an individual level.
As we’ll see through this progression, brands become something more than a representation of a business, product or service but will almost become a self-actualized entity that is used to define key elements of a consumer’s lifestyle.
A Note About Audience Definition and Development
We can’t talk about the evolution of brand strategy without talking about the consumer. The key to any brand strategy, especially as an Experience Brand, is to completely understand the audience or consumer your brand is trying to talk to and affect. Not only do you need to know them as a general segment, but also understand how personal and individual characteristics will come into play as the progression of the relationship unfolds. Mass marketing still has a role in the relationship, but as the consumer provides insights and preferences about themselves, it is our responsibility to use that to provide increased and individual value in return.
“People do not buy goods and services; they buy relations, stories and magic. ”
The evolution of Brand Strategy is:
Horizon 1: Vision, Visual, Product, Service
This stage was the underlying, common thought of what a brand is and should be. In essence, something that visually and verbally represents a business, product or service. This is the vision of what the product or service stood for; the visual and verbal elements like logo, colors, typography, tone of voice, etc.; and the efficacy of the product or service upon consumption or purchase. Horizon 1 of brand strategy connected consumer need for a product or service with the colors, tone and promise of a product or service that solved the consumer need at its basic level.
Horizon 2: Purpose, Experience
Along came technology like the internet and social media and brands have been forced to become something more; beyond the visual, product or service. This technological evolution has ushered in the next Horizon, Purpose and Experience. Technology brought on new forms and demands for transparency while bringing the consumer voice to the central focal point, giving consumers the power in the brand-consumer relationship. This expanded brand strategy beyond visual and verbal representation of a business, product or service and into the next horizon of having a purpose and providing and experience for their consumers. Due to this transformation, brands now must do two things: have a purpose and provide an experience. Brands that stand for something in the world, whether environmental impact, social justice, inclusivity, have built a bigger ideology with their constituency, providing a higher value in doing business with the brand. At the same time, consumer expectations have grown to become something more than a simple transaction with their brands. Consumers now expect that brands will provide experiences (whether physical or digital) to ease their purchase journeys or immerse them into a brand aura. Making it easier, more exciting or novel to do business with consumers, brands have evolved their value even further. Understanding both of these shifts, brands are forced to become an experience creator that stands for something versus a simple product or service provider.
Horizon 3: Interaction, Relationship Planning, Agility
The next brand strategy horizon that is starting to emerge as technology and consumer data become continuous and trackable, is the evolution of the individual relationship with the consumer, or Relationship Planning. As we’ve been seeing in successful growth brands, the brand itself is built at the moment of interaction or non-interaction with an individual consumer. At these moments, brand promises are being fulfilled or insight is being developed to provide Experience Brands the information to build better experiences, stronger relationships or even new value propositions like new business models. These growth-enabled Experience Brands understand that the evolution of brand strategy is in intentionally planning these interactions and subsequent interactions to evolve into strong, personalized relationships with their each consumer. Building a relationship strategy that increases the lifetime value of the brand-consumer relationship builds the power of the brand way more than any communications or advertising activity ever could.
Horizon 4: Self Realization, Self-Actualization
So, what’s on the horizon after relationship planning and execution? What goes beyond strong, progressive and trusting relationships? The next brand strategy horizon that we’ll enter will be for brands to become self-actualized. The evolution of maintaining and progressing individual relationships is a result of an organization that lives and breaths its brand strategy across all processes and interactions; internally and externally. Becoming self-actualized and truly living the purpose of the brand across all aspects of the business, all relationships, all communications and all decisions, creates more authenticity and purity in the brand expression with the consumer. With this brand strategy, businesses will be built or transformed with the essence in every fiber of the business. This gives the power to truly define and fulfill the brands full potential. Something that moves out of a competitive environment and into a cooperative and progressive world.
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