How Innovation Strategy Can Boost Your Brand
Most businesses struggle to establish a reliable brand among their target customers. That’s why many of them turn to design firms for an evidence-driven strategy.
Design strategy begins with a thorough analysis of your market, your position, your target customers, your reputation and the resonance of your brand. A transactional brand review alone offers little substance. Your reputation must be grounded in a trusted experience.
How do you know if your brand strategy is working for you? Which of your customers choose to repeat business? What alienates your one-timers? What fails to entice the target audience who should be calling on you but appear not to know or care or differentiate your offering? What does the market need? What frustrations do current offerings impose? What desires go unfulfilled? What latent needs remain unserved?
Earn credibility the only way you can, by living your brand strategy consistently. Know what you stand for, ground it in your actions, and make no exceptions. Customers naturally distrust a new brand or untested product unless it appeals to a unique and unfulfilled aspiration. Demonstrate the reliable experience your brand promises to the uninitiated. Showcase your values, elevate your fans, and ensure that your offerings resonate with your audience.
You don’t have to attempt this highwire act on your own. Ampersand is here to help.
Leave competition behind
With an effective customer experience strategy, you can stop worrying about the competition. Know your customer best. Position your offering as a “new market space”. Differentiate on the factors that make pricing secondary. And leave your competitors in a quandary.
The bottom line
Creating a distinctive product or service starts with knowing what you stand for. Second: know your target audience better than they know themselves. That requires behavioral analytics and ethnographic research, as well as the big data mapping required to discover what’s next for your customer. Now you can effectively judge, from your customer’s perspective, if your offering is differentiated and preferred.
You can find your blue ocean within a swirling red sea. You can thrive in a market that appears to present cutthroat competition. A customer-centered, thoroughly researched, evidence-based growth strategy makes all the difference.
Ampersand can help you with an effective innovation growth strategy. Our 8-step method has helped many teams to clarify their aspirations, align their efforts, and pull the business forward to a more compelling future. If you’re also looking for a strategy designed to capture the attention of your market, win the loyalty of your customer, drive your growth and elevate your brand, get in touch with us at Ampersand today.