When it comes to brand strategy and consultation in Singapore, business owners have different mindsets. Some reckon it’s a gimmick while others find it a necessity.
Of course, to each is own… after all, not all businesses in Singapore require a brand strategy to better reach out to its consumers. But if you really need to know, here are some solid tips to find out if your company really needs a brand strategy and consultation to take it to the next level.
What is brand strategy and consultation in Singapore?
A lot of businessmen and marketers will say that drafting a successful brand development strategy begins by asking yourself the right questions. It isn’t wrong, but we do reckon it’s a bit more than that.
You see, by definition, a brand strategy and consultation in Singapore is a long-term plan for the development of a brand to achieve a series of long-term goals that result in the identification and preference of your brand by consumers.
A well-defined and executed brand strategy should affect all aspects of a business, with the capacity to improve consumer experience, competitive advantage and financial performance.
What does that really mean?
As you develop a brand strategy for your business, always bear in mind that it helps to start at the beginning. Start by setting your business goals. Ask yourself questions like – why are you creating a new brand? What do you hope to achieve by launching this new brand? Long-term objectives are key here. Use these long-term objectives as a basis for all of your strategic branding efforts.
For instance, are you trying to reach a new audience? Your brand strategy for achieving that goal is likely to be quite different from a business that wants to steal market share from a category leader, and that’s why goal definition is a fundamental starting point for any brand strategy.
It’s undoubtedly challenging and admittedly trying, which is why there’s a need to hire a professional agency to guide you along and to assist you in re-building your business and brand to the next level.
Long-term, long-term, long-term…
The keyword here is “long-term”. Brands aren’t built overnight, so your brand strategy should never be focused on short-term goals and tactics but rather on long-term goals and sustainable growth.
That said, it’s crucial that you work on a strong brand foundation. Without a strong brand foundation built on a well-defined strategy, brands have little chance for success. However, it’s hard to stick with that strategy rather than be tempted by the allure of short-term focus.
Hence, long-term, long-term, long-term… because a specific, achievable brand strategy is an essential component of any business, because it affects every area of your business.
What can I do for my business in Singapore?
You can start off by setting SMART objectives. SMART objectives have become a popular start up cliche. It stands for Specific, Measurable, Achievable, Relevant and Timely – these are taught in every business 101 class worldwide, but for very goods reasons.
The SMART objective guidelines grounds your objectives in whatever research you have previously conducted. It ensures that the goals you set for your organisation (which will form the bread and butter of your brand strategy) are relevant both to your business and marketplace.
Goals should cover key strategic areas, not just financial performance. While it is good practice to outline your ideals for growth, also ensure that goals touch on brand perceptions, reach, product development and daily operations. Do take note of the differences between a good and poorly defined goals:
Examples of well-defined goals:
1. To be perceived as friendly and wholesome by 60% of our customer base by 2022
2. To have a monthly reach of 250,000 consumers through all earned digital media channels by 2022
3. To grow your market share of the financial services industry to 2.5% by 2022
Examples of Poorly Defined Goals:
1. To have more customers than our closest competitor within six months of launch
2. To become known as a friendly brand that looks after customers
3. To create an experience that encourages regular, repeat purchases
Start creating a strategic plan now
Once you have your goals in place, it’s time to start planning how to meet them. This will make up the bulk of your brand strategy. The strategic plan will outline your plans for investment and action to achieve the SMART goals as outlined in the previous step.
Take note that strategic actions should be broad yet specific enough to allow for flexibility as your business expands, but detailed enough to form a strong brand identity. Aspects which should be included in your brand strategy include:
• Mission, values and principles which influence company culture
• Brand language and visual guidelines to ensure consistency
• Departmental processes and policies that enable brand values
• Investment plans for future expansion and acquisitions
You and I will have to understand that every strategy is unique, but one important distinction that should be made is the difference between strategy and tactics. Strategy is the guiding principle upon which decisions are made. Tactics, on the other hand, are the exact ways in which strategy is realised.
Who can I look for?
There are several professional agencies in Singapore that are capable of doing a promising brand strategy.
One such agency is AKS Tech Pte Ltd. As a Pre-Approved Productivity Solutions Grant (PSG) vendor, it offers small businesses at up to 80% funding from Enterprise Singapore to take their businesses online. AKS Tech also offers other business grants for SMEs such as Enterprise Development Grant (EDG) with the availability of RMC-certified consultants.
Other business services AKS Tech offers its clients include web design and development, brands strategy and consultation, videography and photoshoot, e-Commerce solution, application development and social media management. With a strong and experienced team of developers, copywriters, graphic designers and digital marketers, your business will have pertinent cohesion across all channels.
You can drop the guys at AKS Tech an e-mail at email@example.com or give them a call at +65 8388 0417 (sales) or +65 8291 8173 (support)
AKS Tech’s office is located at 33 Ubi Avenue 3 #05-22 Vertex Tower B, Singapore (408868).