Branding is so crucial to any online success.No matter what industry or if your company provides a specific product, service, software, etc. branding will play a huge role in growing that specific business. Yet, you also do not need to spend tons of money on branding and many of the well-known companies themselves do not spend a lot. Instead, they focus on a strategic brand management process that enhances their brand and makes sure they are highly visible in their markets. This also ensures your company has a better chance of being chosen during the purchasing decision.
What is Branding?
There is a lot of confusion around branding and exactly what it is. Decades ago branding was defined literally just as a name, slogan, sign, symbol or design, or a combination of these elements that distinguish one product or service from another. The brand of a product or service differentiated it from the competition. Today brand is a bit more complex, and even more important in today’s world of marketing. It’s the perception that a consumer has when they hear or think of your company name, service, or product. The best example is Nike’s swish which conveys a sense of speed and movement. Also the likes of Coca-Cola, jmexclusives and Safaricom PLC. These are distinctive brands in Kenya which you can never forget about that easily.
Types of Branding
Branding is the process of developing a unique name and identity for a product or business. Branding ensures awareness and credibility for a brand, creates customer loyalty, among other advantages. Building a brand takes time and involves a lot of resources. It is, however, an important marketing tool for stimulating recognition.
A product, service, person or place that is branded automatically develops a personality as well as reputation. Businesses and individuals can as such take advantage of the various types of branding that are available.
Let’s take a quick look at a few types of branding that businesses and individuals can leverage on.
This is the most common and easiest type in the list. Product branding is a symbol or design that identifies and differentiates a product from other products. Product branding is very easily noticeable when you walk through a supermarket that has different products. Hence, most products have a unique color, design, and logo.
Very common among politicians, athletes, and celebrities. Personal branding makes it possible for famous people to reflect a good image of themselves to the public. Politicians, for instance, use personal branding to create a good impression and convince voters that they are right for an office.
Used by businesses interested in creating and maintaining a good reputation. Corporate branding thus cuts across an organization’s services, products, employees, corporate culture as well as corporate social responsibility. Every activity that occurs in an organization has a positive or negative effect on its reputation. A wrong decision can, in fact, have an adverse effect on the corporate brand.
This type of branding is used for specific services and products that are peculiar to a particular region. This mostly in the tourism industry. Various countries and regions try to brand things that make them different from other areas.
Mostly used by industry giants to increase the interest of consumers and make product sales outpace the competition. A lot of money is spent to develop unique brand images that convince consumers to select their brand instead of others. Retail branding, however, requires a lot of planning. The right strategy needs to be adopted to ensure its success.
Co-branding is a type that associates the brands of two or more companies with a specific product or service. It can also be described as a marketing partnership between two or more brands such that the success of one brand rubs off on the other. Co-branding is effective in building the business, increasing awareness and breaking into new markets.
Besides the aforementioned, there are other numerous types of branding that businesses can take advantage of. The most important thing is to ensure that your approach to branding suits your business objectives.
Why every Company needs Branding
In today’s economy, when companies compare print prices online and the print technologies that are available almost for everybody, the type of service and convenience you provide your customers seems to have the biggest effect on their decision when the time comes for them to choose their printed products supplier. This is where brand management plays an important role and helps you to keep your customers loyal to your services.
For our purposes, when we say “brand management,” we mean providing an online catalog of the customers’ company branded printed products that will be available for anyone who is authorized by the company to make a purchase.
To succeed in branding, you must understand the needs and wants of your customers and prospects. You can achieve this by integrating your brand strategies throughout your company at every point of public contact. Think of branding as though your company or organization were a living, breathing person. Imagine this person explaining who they are, why they’re valuable, and what they specifically have to offer. As consumers begin to identify with you, your brand will live in the hearts and minds of customers, clients, and prospects—and connect on an emotional level.
It’s important to spend time researching, defining, and building your brand. After all, your brand is the source of a promise to your consumer. If you’re billing yourself as the manufacturer of the longest-lasting light bulb, your brand has to live up to that.
In developing a strategic marketing plan, your brand serves as a guide to understanding the purpose of your key business objectives. It enables you to align a marketing plan with those objectives and fulfill the overarching strategy. And remember, the effectiveness of a brand doesn’t just happen before the purchase—the brand experience has to last to create brand loyalty. In other words, did the product or service perform as expected? Was the quality as good as promised or better? How was the experience of the service? If you can get positive answers to these three questions, you earn a loyal customer.
Brand Relation to your overall Online Presence
If you have bad branding, you have poor sales, poor client retention, and weak growth. Branding defines how your customers and the industry views you. The true value of your product or service is unfortunately hidden underneath. Hence, misguiding layers of press, media, word of mouth, publicity–all which make up your unique brand. If you want to stand out in the market this year. Focus on your brand more than ever. This definition makes it clear that a brand cannot exist without the product.
The basis for developing a brand rests with the key characteristics and attributes of the product. It’s absolutely important to have an alignment between the core competencies of your product with the branding strategy. This acts as an ambassador for the product and unless true to the product, will not work. A great product with the wrong branding strategy is less likely to be as successful as a good product with an on-point and on-message branding.
Relating your Strategy to its Target Audience
It’s also very important to ensure that the product is catering to the targeted market’s needs and brand your product based on the targeted demographic. If your product does not solve the market’s needs or if your branding fails to identify the audience for the product, you have a failed product in your hands. The efficiency of your brand strategy correlates with the number of customers that will pick you over your competitors. Two companies could offer the exact product or service, but the one with a well-thought-out and strategic branding plan will attract more customers.
According to Forbes, customers tend to associate themselves with a brand that is trustworthy and makes them feel appreciated. For instance, travelers are more likely to fly with an airline with a flight crew that makes its passengers feel valued and safe than the one who serves the best peanuts and pretzels. It is not just the message, product or service that interests the customer but most importantly, the delivery.
Therefore, at jmexclusives, you are welcome to engage and tell how you would want a partnership. Particularly in improving your brand capacity and reputation on all digital scales. It is never an easy job but, when we come together great things do happen. We are here to make your product and services start selling by justing adjusting the branding techniques. Contact Us!