Does the word “Branding” sounds familiar ?
Let’s explore ! What is branding ?
It’s a word you are probably conversant with, whether you come from an advertising or marketing background or just a start-up business person. But you may or may not know what it is all about and how important it is to the success of a business?
A brand today is not much different from a person. The first impression, even before you speak, is lasting. We’re all guilty of doing it. It’s something we all do as humans and is subconscious. You can learn from that by being conscious of how brands can utilise this.
Quickly take a moment to think about some of the biggest brands in the world.
What does it mean to have good branding?
Branding Generates New Customers:
A good brand will have no trouble drumming up referral business. Strong branding generally means there is a positive impression of the company amongst consumers. They are likely to do business with you because of the familiarity and assumed dependability of using a name they can trust. Once a brand has been well-established, word of mouth will be the company’s best and most effective advertising technique.
Improves Employee Pride And Satisfaction:
When an employee works for a strongly branded company and truly stands behind the brand, they will be more satisfied with their job and have a higher degree of pride in their work. Working for a reputable brand and help in high regard amongst the public makes working for that company more enjoyable and fulfilling. Having an office with a significant brand identity, can help employees feel more satisfied and have a sense of belonging to the company. This can be achieved easily, like through using promotional merchandise for your desktop, having brand colours around the office, having cool merchandise etc.
Creates Trust Within The Marketplace:
A professional appearance and well-strategized branding will help the company build trust with consumers, potential clients and customers. People are more likely to do business with a company that has a polished and professional portrayal.
Why is it so important that your brand aligns with your purpose and personas?
Your brand is your promise to your customers. It encompasses your company’s values, beliefs, mission, and vision. Brand alignment is the practice of ensuring all marketing assets and customer interactions uphold the brand’s promise by communicating one cohesive, ongoing story. Whether engaging customers online or offline, brand alignment is critical to delivering a consistent customer experience where your brand promise shines through.
What are different types of branding strategies ?
A product that’s well-received by a target audience can transform a business. As consumers become savvier, brands need to become more strategic in their branding efforts to ensure their products and services are met with high demand. When it comes to branding strategies, there is no one-size-fits-all option. Your marketing team should brand your products and services with an approach that aligns with your business’s values and resonates with your customers.
Here are five different types of branding strategies your company should consider.
Company Name Branding:
Well-known brands leverage the popularity of their company names to improve brand recognition. Logos, slogans, packaging or colours are generally recognised by consumers in association with the business as a whole. For instance, companies like Coca-Cola, Tylenol and Porsche rely on company name branding to engage with their audiences.
Individual Branding:
Large companies with various well-known products may opt for a unique branding strategy by giving each product its brand name. For example, Apple is the parent company but relies on an individual branding strategy to market its different Mac, iPhone, or iPad brands.
Attitude Branding:
Sometimes, a company will rely on an overall feeling or attitude to market its products and reflect its business. This branding strategy brings the business to life by marketing a more prominent feeling to create an emotional connection between the brand and its customers. Brands such as Nike use attitude branding not only to sell athletic shoes but also to promote a healthy lifestyle that aligns with its infamous slogan, “just do it.””
Brand Extension Branding:
An existing strong brand may decide to extend its success into a new venture with effective use of a brand extension strategy. Many clothing companies use brand extension strategies to launch a new line of shoes, fragrances or accessories. The products may be different, but the brand identity stays the same.
Private-Label Branding:
Successful store brands may use private-label branding strategies to compete with larger retailers. For example, supermarket chains such as Kroger produce cost-effective brand options for specific food items.
H2O Blue Life is a full-service, multi-facet digital company based in Mulgrave, Melbourne. We have a team of talented brand and creativity experts who can take your business to the next level through powerful strategies that align with your company and resonates with your customers. We understand your brand and will pave the way for you to achieve your next business objective. Are you a start-up, a family-owned business, or simply looking to grow your business? Let’s work together!
Let’s conclude
It’s probably pretty apparent to you now that branding can make or break your company. Get it right and tailor it to suit your targeted personas, and you’re on to a winner. But miss the mark, and you could struggle to make a connection with the people you hold most valuable.
Remember – it takes Less than a second for someone to make an initial judgement. So, if your logo and website are poorly presented and doesn’t create a great first impression or provide a sense of security about the services you provide, then you might sell yourself short at the first stage of interest.
Do it well by presenting a well-branded face of a company, then you’re more likely to keep clients interested, and that will give you more time to gain their focus and trust. Soon enough, you’ll be able to establish a mutual connection that will not only increase your sales but also prolong the lifetime value of your customers.
