Brand Nuggets: What should be the link between brand and business strategy?
Working as a strategist for brands and businesses, I have come to know a void between brand and business strategy. The two seem to be two different processes altogether, conducted by different people and functions inside organisations. As a consequence, all too many brand promises are never kept.
So how are the two related? And what should their relationship be?
Let's start with business strategy.
Business strategy revolves around meeting your business objectives and the company's overall aspiration (vision, mission, purpose, etc.). It then addresses two main questions, the question of "where to play" and of "how to win". The first one is about choosing your ideal customer segments, your categories, markets etc. It defines your focus.
How to win - questions are where brand strategy comes into play. How you win should not only be about where you focus your resources (which is the common approach), but about how you will deliver more and different value than anyone else. This, is the essence of brand strategy, answering the question of why people should choose you over competition. How to win, is hence, where brand strategy meets business strategy. The two most be aligned, and they should support each other.
Your brand is, hence, the face of your business strategy, because it is how your customers will "experience your strategy". And for this reason, brand strategy should be the heart of your business strategy.
"Brand Nuggets" are short, half-chewed pieces of thinking to help you create breakthroughs for your brand and business. They are served by Tobias Dahlberg, CEO, Founder and strategist at Wonder Agency, a strategic brand firm from the Nordics. www.tobiasdahlberg.com | www.wonderagency.com