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  • Writer's pictureMonique Olan

4 fundamental focuses for brand strategy in 2024


Your brand strategy is an essential foundation to the success of your go-to-market and growth potential. And in 2024, with the changes and trends around data, content, channels, and all that shape B2B marketing, you need to be very deliberate in your strategy to not just stand out, but be strategically distinct in your market if you expect to hit those growth goals.


Image with statement: "Insights on the upcoming trends in brand strategy and what it takes to stay ahead of the game."

Your brand is the pulse of your business - more than just a logo or a tagline. It's your promise, your story, the emotions you evoke, and how you resonate both with customers and within your teams. 


So as you navigate 2024, here are four high-level focuses every business should lean into to achieve its growth goals:


  1. Embrace authenticity in everything

  2. Harness data-driven insights

  3. Balance innovation and consistency

  4. Build and foster real community



 


1. Embrace authenticity in everything


You probably recall, not too long ago, that brands began making a shift into being much more authentic and genuine in their personalities online and in their marketing.


This may have at one point felt like a trend, but I’m here to emphasize this is now  a non-negotiable brand standard.


So as you ride the waves of change in 2024, it's time you see authenticity as not just a buzzword, but a cornerstone of B2B brand strategy.


Understanding the trends:

Image with statement: "86% of consumers consider a brand's authenticity in their purchase decisions."

Recent studies underscore the critical role of authenticity in consumer decision-making, with a staggering 86% of consumers citing authenticity as a significant factor in their purchase decisions (Source: Stackla). 


Constantly barraged with content and messages, today's consumers are sharp; they possess an unprecedented ability to spot a genuine brand from one that's merely playing the part. 



This discernment is crucial because authentic brands don't just attract customers—they forge deeper connections that transform customers into brand advocates.


In the digital age, trust has become the new currency. The ease of content generation has unfortunately also made misinformation rampant. It's in this landscape that authenticity emerges as a beacon of trust. 


Yet, there's a startling disconnect revealed in self-perception versus reality: 80% of brands believe they're delivering authentic content, but only 37% of consumers feel the same (Source: Gitnux). 


This calls for a moment of introspection and possibly a strategic reassessment for many brands.


Actionable strategies:


  1. Narrate Your True Story: Authenticity begins with your brand's narrative. Share not just your successes but also the challenges and setbacks. This vulnerability doesn't weaken your brand; it humanizes it, transforming B2B relationships into human-to-human connections.

  2. Embody Your Values: Let your brand live and breathe its core values. Consistency shouldn't just be a surface-level effort but should be woven into every interaction at all company levels. When your actions mirror your values, authenticity naturally resonates.

  3. Bring Your Customers Forward: Your customers' stories are your brand's stories. Authentic testimonials and case studies offer an invaluable peek behind the curtain, providing your audience with relatable, trustworthy insights that let them more genuinely “peek behind the curtain.”


 


2. Harness data-driven insights


Today, the term "data-driven" has become ubiquitous, echoing across boardrooms and marketing strategy sessions alike. 


And while some may tire of the phrase, its importance cannot be overstated— and this includes branding!


But what does being data-driven really mean in branding? It's not just about conversion rates and pipeline metrics; it's about understanding and leveraging a broader spectrum of data to carve out a unique space for your brand in the marketplace that arches over:


  • Buyer contact data

  • Brand health data

  • Performance data


Decoding the trends:

Image with statement: Ignoring data in your brand strategy is crippling your revenue potential."


In addition, blending into the "sea of sameness" in your market will do you NO favors in 2024.



Making data-driven differentiation and value addition indispensable for standing out. The cohesion of your messaging, identity, and visuals are not mere details; they are central to your brand identity. Any misalignment here can disrupt your connection with potential buyers, emphasizing the need for a synchronized go-to-market and brand strategy.


Actionable strategies:


  1. Elevate Your Buyer Data: Our go-to with clients is developing a Buyer Data Matrix—a comprehensive review of all data points that give us insight into our buyer's world. This methodology not only clarifies the current landscape but also lights up the path through the early stages of the “dark” buyer journey.

  2. Establish and Inform Brand Health Metrics: Set and regularly review metrics that gauge your brand's vitality. From brand awareness to equity, these indicators offer insights into your brand's standing in the market and inform strategic decisions.

  3. Incorporate Brand Feedback into Performance Data: Your brand's perception—how your messaging and visuals are received—should be continuously evaluated and refined in parallel with pipeline and campaign performance. This ensures that your brand not only resonates with your audience but also aligns with the overarching objective of revenue growth.



 


3. Balance innovation and consistency


The juxtaposition of innovation and consistency often causes a conundrum. While what works in marketing may vary, a successful brand is one that aims to be a beacon of consistency. 


But make no mistake—consistency should not be the death knell for innovation.


So how do you remain innovative and adaptable without losing sight of identity and consistency in brand? Let’s explore…


Revealing the trends:

Image with statement: "Brand consistency can result in up to 33% higher revenue.

The year 2024 stands as a testament to the power of innovative brand strategies. These strategies are not just about being different; they're about being ahead of the curve, adapting to changes more swiftly than competitors. 


Innovation for the sake of innovation, however, can lead to brand confusion rather than distinction. This is where the concept of brand consistency comes in, serving as the framework within which innovation can flourish.


Studies reaffirm that consistent branding could result in up to 33% higher revenue (Source: Marq), a statistic that underscores the importance of maintaining a unified brand presence across all touchpoints. This unified approach solidifies your position in the market and fortifies customer trust.


Actionable strategies:


  1. Develop a Core Brand Framework: Define what your brand stands for, its voice, and its visual identity. This framework should be the north star for all innovative endeavors, ensuring they align with your overarching brand strategy while pursuing flexible, creative opportunities.

  2. Embrace Data-Driven Adaptability: Data-driven adaptability is the compass that guides innovation. By staying attuned to market trends, customer feedback, and performance analytics, your creative strategies can be continually refined to align with both market needs, what’s working, and your brand's core values.

  3. Foster a Culture of Innovation: Encourage your team to push the boundaries within the defined framework of your brand. Celebrate innovative ideas that resonate with your brand’s ethos. Patience is critical, as the fruits of innovation often require time to mature and align with the extended B2B buyer journeys.



 


4. Build and foster real community


The most successful brands in 2024 will be those that grasp the profound influence of community – both in the realm of shared interests and in dedicated spaces for collaboration and exchange.


Those communities currently weigh HEAVILY on purchase decisions. The “digital word of mouth” referral is alive and growing.


Trends in why community matters:

Image with statement: "Communities will drive buyer decisions in 2024. Foster them or fizzle out."


These communities are becoming decisive in guiding purchase decisions, serving as incubators for shared interests, collaboration, and exchange.



A brand's contribution to the community is not merely about participation; it's about fostering thought leadership and providing a platform for growth. By offering valuable insights and fostering genuine interaction, brands can stand out in an increasingly crowded marketplace.



Actionable strategies:


  1. Contribute Authentically: Dive into industry communities and offer meaningful contributions without overtly pushing your products or services. Authentic engagement is key—add to the conversation with insights and resources that truly benefit the community.

  2. Create Your Space: If resources allow, establish your own forums or groups. This can be a space where your brand takes the lead in initiating discussions, sharing industry advancements, and soliciting direct feedback. This can go MILES in helping you also align your product or service much better to the real demands and needs of your audience. But again… the goal isn’t to own the space so you can push a sale.

  3. Empower Advocacy: Identify and cultivate relationships with your brand advocates within these communities. Their genuine endorsements can resonate more profoundly than branded content, influencing potential customers through authentic dialogue.

  4. Leverage Multiple Channels: Recognize that communities thrive on various platforms. While it's important not to overextend, strategically choosing a mix of platforms — LinkedIn groups, niche forums, Slack channels, etc. — can ensure you meet your audience where they are most engaged.



 


The path forward with your brand strategy


Some think that unique branding and having a explicit voice and point-of-view in your market died away some as we embraced the digital shift in consumer research and buying, but with the trends of 2024 and going forward, it’s not only well alive, it’s re-establishing as a critical strategic pillar in your go-to-market.


  • Be authentic and genuine – consumers can see through your BS.

  • Let data both inform and continually refine your approach

  • Create brand standards and consistency so you can foster creativity and innovation

  • And embrace that in order to be customer-centric, you need to be community-centric



As we at PivotalPitch continue to champion the pivotal points of growth, we invite you to reflect on these points for your brand.


And if you find that you’re brand strategy may be lacking, or that you don’t know where to start on all this, let's hop on a quick call and see how we can help!

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