BRAND STRATEGY FIRMS IN GHANA

There are four stages in a product’s life cycle, we’re told: introduction, growth, maturity, and decline. This product life cycle is the amount of time a product/service undergoes from being introduced to its targeted audience, grows in demand into maturity (where it probably becomes a brand) until it declines to the extent of being taken off the shelves as a product (or ceases to exist as a service). But guess what? Some products/services start and go through the various stages of the cycle but refuse to do the last stage, i.e. go on the decline. They keep reinventing (or rejuvenating) themselves over and over, thanks to the work of brand strategy firms whose seminal strategic contributions ensure that the product is transformed into a never dying brand.

ULTIMATE GOAL OF BRAND STRATEGISTS

As products/services are birthed by individuals and corporate entities alike, unless by design, it usually is anticipated and indeed worked towards, that the products/services, over time, would assume a life of their own, stick around long enough to develop a personality of sorts and, of course, would be recognizable and preferred among its competitors. The ultimate goal typically is that these products/services would become brands. Many a time, engineering things quietly behind the scenes, unknown and unseen by many, are brand strategy firms working at transforming mundane products/services into recognizable household brands that go on and on to live in the minds and experiences of generations of customers.

A brand is defined as a name, term, design, symbol, or any other feature that identifies a seller’s goods or services as distinct from other sellers. Brand strategy firms exist to help measure, scrutinize and appraise the brand identity, performance, and strategy of clients’ products and services. They come up and work with a long-term plan to achieve chains of long-term goals that would result in a person’s brand being easily identifiable by customers and preferred by the same.

WHY BE STRATEGIC ABOUT BRANDING?

In times past, livestock and people sold into slavery were given unique marks (branded) by which one can easily tell who they belonged. That was a kind of simple branding – nothing complicated about it (except, of course, painful). But now, with the sophistry that has come with social advancement in consumer behavior, for branding to be successful, it ought to be strategic (where strategy is defined as a plan of action designed to achieve a long-term or overall aim). In the sea of many other products, the era of customer satisfaction, and in the din of advertisers competing to call attention to one product or the other, one cannot neglect to be strategic in their branding endeavors.

Now, when brands are referred to, it mostly describes those products or services of companies that have become household names (so far as their customer base is concerned) such that just a symbol about them registers their product or services. But branding isn’t just about logos, color palettes, or websites, though these elements have their roles to play in the achievement of a successful branding agenda, it certainly goes beyond that! Some years ago, a company’s name, logo, and slogan were enough identifiable things that made it stand out from the competition; now, a brand is more than just that. It is the entire experience your customer and prospects have with your company, product, or service hence the expediency of one being strategic about the whole approach to branding. The product/service to be branded must be seen in the long-term vision. This vision, once realized, must ensue in the easy identification and preference of that brand by consumers over other similar products. In the spirit of strategy, the brand mission, the brand’s promise to intended prospects, and even how these would be communicated are taken into careful consideration and worked out for expected outcomes.

MAKING A BRAND STRATEGY SUCCESSFUL

Brand strategy firms are successful in their brand strategy when by their efforts the world gets to know a brand (they are pushing) exists, the brand purpose (why the brand exists) is successfully communicated and understood and that brand becomes a preferred one to its competition. Now, to achieve these isn’t a walk in the park. It involves careful planning and implementation of goals and because brand strategy deals a lot of the time with intangible elements, it is the first ideal for defining what success is and how it will be measured and recognized. Once what success will be is defined and crystalized, then goal-oriented actions – fluid, having a long-term impact – are employed to translate the dream into reality. Some questions to facilitate the adoption of these goals include: what the brand’s objectives are and how they should be communicated; how to identify as well as engage ideal customers, how to identify competitors, etc.  Consistent reviewing must also be adopted to ensure responsible teams are navigating and working towards the right direction; a single focus – the achievement of success as agreed in the blueprint.

Dreams are good; reality is better. Brand strategy firms aid in shifting the brand dream to brand reality.