Brand strategy is the process of defining, developing, and managing a brand. It is a flexible plan that guides how a brand will be positioned in the market, how its value will be articulated to consumers, and how it will be differentiated from its competitors.
Perhaps the most important brand management activity is positioning the brand properly. A key component in positioning is the brand promise. Strong brands make credible, relevant, and distinctive brand promises. Even more importantly, they fulfill these every day.
“You can’t manage what you don’t measure.” ~ Peter Drucker This is especially true of a brand and its equity. Having a data-driven view of how your brand is perceived and what customers need will put you in possession of the truth, the insight you need to construct a powerful brand strategy for competitive advantage.
There’s no doubt about it – web3 and blockchain technology is poised to become a pillar of our economy in the coming years. But for now, can brands really benefit from web3 technology? The answer is a resounding YES. Today, we’ll explore some of the ways that brands can leverage web3 to stand out from their competition, increase brand awareness, and engage with customers like never before.
Once a brand is well positioned, the one enduring challenge that marketers face is making sure that everything associated with the brand is consistent in the minds of the target audience.
