Building a brand requires having a brand strategy which is simply the way a brand has decided to show up to its customers and would-be customers, Coca-Cola have been on their ‘A’ game in this and you have alot to learn from them.
It is also how the brand wants to be perceived by others. Over time, several top brands have employed different strategies to get desired and favoured in the market and in the long term be preferred.
A brand strategy is important because oftentimes businesses answer questions like “why should I buy XYZ when there is ABC?” What are you doing differently that XYZ cannot do? These and many more are the questions raised in the mind of customers.
A brand’s strategy takes different shapes and elements. Which can include storytelling, the brand’’s identity, etc.
Today, our focus is on the brand Coca-Cola. What brand comes to your mind when thirsty, what brand is your first choice. Well, this article is not about the drink itself. It is about their strategies and how you can use it to scale your business.
Picture Credit: GreenBiz
Coca Cola has presence in over two hundred countries and territories of the world
When we talk about a brand being desired by the masses, Coca-Cola is a top choice with over 94.9% of their customers declaring that they exceeded their satisfaction, this is worthy of being emulated.
According to Nairametrics, “Brand Finance, a London-based brand evaluation company, ranked Coca-Cola as the strongest brand in the US, even though its brand value decreased 13% to $33.2 billion. The company was evaluated based on factors such as marketing investment, customer familiarity, staff satisfaction and corporate reputation, and scored 91.7 out of 100 on a brand strength index score.”
Here are three brand strategies lessons that Coca-Cola has employed over the years to stay relevant:
- Focus on your consumers emotions: Consumers need to be “emotionally” involved in your product. Coca-Cola has done this perfectly over the years through their ads. Most times their ads are shot using people who are their targets showing some certain images capable of eliciting emotions from viewers. An example is the image below:
Picture credit: Gobraithwaite
Have you thought about how your customers feel when they see your ad? What emotion are you provoking in them? As you develop your product or service, ensure you put this into consideration.
- Stay consistent: Over the years, Coca-Cola has remained constant in taste and values. How old is your brand and how consistent have you been with the brand’s message? For Coca Cola, the message has been, friendship and happiness. Have you identified what your brand’s message is?
- Get in touch with your consumers locally: This point cannot be overemphasized. Your customers need to know that you care about them. They need to know that you prioritize their satisfaction.
Coca-Cola has successfully done this. Sometime ago in Nigeria, coca cola products came with different names at the body of the drinks. The names attached to these bottles were indigenous names to the people of Nigeria and for some they knew someone around them who bore these names. Many persons proudly showed off their purchase while others wished it came with their names. In the end, it was a fun experience.
Dear brand owners, entrepreneurs and business persons, what lessons resonate largely with you? What have you decided to do differently?
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