When it comes to developing a brand strategy for your business or impressing start-up investors, it’s important to highlight what type of branding approach will work for you.
There are many different options out there, and making a substantial effort about which one works best for you is pivotal for promoting your product, service and business.
Before we dive into these various types of branding, let’s take a look at the points of an effective brand strategy.
What Forms An Effective Brand Strategy?
It’s important to know that creating an effective branding strategy is more than just your company’s name, logo or tagline; it’s about highlighting your company’s purpose, target market, and value proposition.
What do you stand for? What is your end mission, and how do you plan to achieve it? What is your relationship with your consumers and loyal followers?
Only by answering these questions can you create the foundation for building a strong and recognizable brand, showing your audience that your brand is more than just empty words.
From there, you can determine the types of branding strategy that will work best for your company. Consider the following four strategies and how they might work for your business.
Four Crucial Branding Strategies
Corporate Branding
Sometimes being a powerful brand name is enough. Reputation plays a big role in driving your business’s success, so everything that your company does – from the products and services to how it interacts with your audience – will affect your brand’s perception.
Consider, for example, automobiles. The likes of Aston Martin, Dodge or Mercedes Benz are recognized for quality and excellence, so therefore, the promotion is not just on the products (the cars), but the company name. You know you’re getting quality with one of these automobile manufacturers.
If you build your brand up enough and you’re recognized for quality or excellence, it can do the promoting for you.
Attitude Branding
The feeling that a brand provides is sometimes enough to promote it.
Consider the likes of Nike, with its “just do it” slogan. It’s all about the attitude and what comes with it. Look at how easy it is: Do you feel like exercising and getting fit – just do it!
It works on so many levels, and it’s easy to execute.
All you have to do is focus on creating an emotional connection between your brand and its customers, promoting an attitude and feeling behind it. It can pay off handsomely if you do it right.
Product & Service Branding
The way you position your product or services has an immediate impact on your audience. The colour, style, wording and approach all factors into this type of branding.
Effective product and service branding starts with understanding the consumer, their desires, and the competitive landscape that you’re entering.
For example, McDonald’s promotes halal meat in Middle Eastern countries because it knows its audiences want it. Compare that to Canada, where the focus is on “pure Canadian beef”, targeting their local interests.
The same applies to services, which are focused on customer approach, conversation and care. You have to make sure your service approach is consistent across your brand while meeting your customers’ needs and expectations in particular fields of interests and zones.
Personal Branding
Although more associated with public figures such as politicians, athletes, and movie stars, personal branding isn’t something to be sniffed at. It can help build your reputation amongst the industry, focusing on your business at the forefront.
But you don’t have to look at Richard Branson, Elon Musk or Lionel Messi to gain that level of attention and branding. It’s about creating a personal image that reflects through your brand, so both are the same. People will recognize the similarities between both and tie you together.
Create a hip, cool brand, and they’ll think you’re cool. Likewise, if you promote a hip version of yourself, it makes your business look cool.
To kickstart your personal branding, define what you want to be known for, then develop a strategy for publicly promoting yourself as an influencer in your industry.
Remember, you don’t have to be a billionaire or super famous for achieving this level of branding.
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