Helping companies build memorable digital experiences for their brand and increasing their online growth, ecommerce website design agency, Huemor, uses their vast knowledge creating and improving website experiences by discussing how to determine if your brand strategy is working.
Brand strategy is a long-term plan that aims to develop a recognizable business persona to achieve specific business goals. A well-defined and executed brand strategy affects all aspects of a business and directly connects to your customer’s needs. To begin, you must first assess whether your business’s current brand strategy is a suitable fit or not. This can be done through competitive research and analysis of KPI performance. If your brand needs an adjustment, the results of an assessment will be able to determine it immediately.
Social media interaction can signal business growth. This could come in the form of likes, comments, shares, etc. If your brand is producing content relevant to your audience, then more social media engagement can lead to more business growth. To determine if your current brand strategy is working, view the number of interactions over a set period of time. Using UTM codes to track your social engagement through Google Analytics and measuring that against the number of individuals who converted into leads, email subscribers, clients, etc., can give you an insight on the level of success of your current social strategy.
Look into what kind of feedback your business receives from its customers and leads. The general rule that determines how effective your current brand strategy is, is to analyze the amount of interaction and feedback you are receiving from customers. If your current messaging doesn’t resonate with your target market, your audience won’t give you much feedback, signaling the need for a brand strategy revamp.
A strong mission statement can go a long way for a business, as another key determinant for brand strategy success comes from thought leadership. Thought Leadership is the perception of leadership and knowledge within an industry. Brands do not begin on this level, and getting there requires a solid foundation within your business and overall brand strategy. If your strategy isn’t clear, concise, and understandable to your audience, then reworking may have to take place. Businesses who have existed for a considerable period and have not achieved thought leadership appears to have unstable foundations and do not excel to the level at which well-known, established businesses rise to.