A branding strategy consists of a set of actions designed to define, direct and maintain meanings associated with a company or a product in people’s minds over time. Branding has become one of those buzzwords that everyone uses but doesn’t really understand its true meaning and purpose.
The branding is an essential tool for businesses, as customers tend to choose a brand that connects with its purpose. For this, it is vital to identify with people, with their stories, with their causes and promote positive experiences to the target audience. The brand strategy is not exclusive to large companies. SMEs can perform branding adapted to their areas, customer profiles or market niches. The communication of brand attributes does not always have to be massive. They can also be transmitted in the vicinity or in personalized messages and for this the digital media are suitable.
This as a phenomenon has not juts inaugurated huge possibilities for the commercial business organizations of various types, a great array of choices for the buyers but has also heralded an age of supreme competition for the commercial brands all across the world. Just as the opportunities are huge so are the risk elements. Everything depends on the way you create your brand image. Communicate the same to the buyers and maintain your rapport with your end customers. These are some of the basic, simple and fundamental mantras of sustenance and success for the commercial companies all across the planet. Hence the importance of a solid and well-planned branding strategy becomes more than clear to all of us.
Benefits of the Branding strategy for a company:
1. Prescription of your audience. Not only will you be able to sell your products more, but the first solution that will occur when they have a need will be your company, as well as the first recommendation they will make to their circles when they have the same needs.
2. Brand positioning. Your brand will be present in the minds of your consumers with the values that you want to be present. Being present as a brand that responds to your needs, communications, that adds value and that takes care of your customers will become a very important asset for your income statement in the medium and long term.
3. Differentiation and strength in the face of competition. The main thing is that it will help you to differentiate yourself from the competition and as we have talked before, given the great diversity of options that the business fabric gives us today, yours will be one of the most valued. It will also give you credibility and protect you from a price war.
4. You will reduce costs to gain profitability. If you are a recognized brand among your market sector, you will need less investment to achieve better results, since the public already knows you and trusts you. This will improve the profitability of your company.
5. You will increase the value of your company. With the acquired prestige of a valuable brand, you will be able to increase prices above the competition, since you offer the security and confidence of a powerful brand, you will improve relations with your suppliers and distributors and you will grow your business with the prestige of a great brand.
Having said that, it can now be easily stated that although it is rather simple to point out at the eminence of a good branding strategy planning and implementing such a branding strategy is not really an easy task. This is a rather technical job that requires determined knowledge, experience, exposure, and definite acumen. This is why the branding teams of any company are some of the most crucially important manpower for the organization as a whole.
With the huge advent and use of technology in the current times, there has come to rest a huge change in the nature of the types of branding strategies that are being used by the contemporary business organization. The phenomenon of using such branding strategies has been a trend that was in vogue from the very early times. In the current era, what was earlier done with the help of human manpower is now channelized on the dint of technology. In fact, experts of various alleys of trade have agreed to the fact that digital branding and marketing done through social media branding strategies have multifarious impacts on audiences including both customers and new visitors.
Let us take a look at some of the popular branding strategy examples in practice in recent times.
The brand statement
One of the main elements of the corporate branding strategy is the statement line of the brand. This is a small, crisp and simple tag line that often comes with the logo or the mention of the brand. This is the line often referred to as the punch line that tells us a lot about the brand, its mission, motto and what the company is all about. More than just the products and the services of the brand, this tag or punch line tells us a lot about the values and the extra benefits that can be expected out of using the services and the products of the company. Hence creating this tag or punch line is of utmost importance for a proper and hard-hitting branding strategy. It is important for a branding strategy that the tag line of the brand is a catchy and relevant one. It must be able to attract the attention of the audiences by and large.
While we are at the various branding strategy examples that are doing their rounds in the market, it has to agree wholeheartedly that the company logo is one of the most crucial steps of this task. To design a company logo is no simple task. This is a small image or a picture that becomes a major part of the identity of the brand. This is one of the images which help the audiences differentiate a brand from the gamut of its competitors. The logo has to be created with care and professional expertise and aspects like its sizes, the color tones that are being used, etc must be done with care.
To become an important part of the customer’s life
All successful commercial brands of the world are the ones who have been able to become a household name, a brand that is an eminent part of the lives of their customers. This is one of the elements that must help to shape a corporate branding strategy. Hence to begin with first any brand or commercial business organization must make a proper analysis of their customers, their requirements and needs and on the basis of the same must they develop their branding strategy.
Quality is imperative
Quality is one of the most important things that will help a branding strategy of any commercial organization. In order to improve and improvise the current standard companies can open effective and responsive communications with their customers. Customer feedback is one of the best ways through which a brand can improve its business, product value and also continue with a respectable and trusted branding program.
The various channels of the internet comprise an effective social media
branding strategy. Given a large number of buyers who are glued to the different platforms of the social media for a considerable part of the day, confirms the fact that this is one of the most promising channels troughs which a business organization can tap a large part of the global market. This is one of the main reasons why commercial business organizations and brands of contemporary times happen to invest in digital marketing and branding in the current times.
However, to end the discussion if you are trying to figure out an effective
branding strategy for your company, the influence of the traditional media in the successful implementation of even the most innovative types of branding strategy, cannot be negated whatsoever. Hence the traditional channels of the media such as the television, the radio, and the printed media are of much importance even in the present age of technology. They also help a brand to reach out to different layers of the market.