Understanding different types of branding strategies can help your business engage customers and drive success.
It's not enough to release a good product and offer a reasonable price for it. You also need to build your brand to be on the same wavelength as consumers.
Every year, more people pay attention to the brand when buying.
Take the eternal Samsung vs. Apple battle: Each has its army of adherents who will never trade their favorite device for a model of another brand. Without an exact brand strategy template, it would be impossible to achieve such resonance.
In this article, we outline 4 types of branding strategies companies can pursue to create a memorable brand that can take root in customers' memory and hearts:
Define and capture your target audience
Drive brand loyalty
Use social media
Simplify your brand message
Define Your Brand
First, let's define the concepts. What is brand strategy?
A strong brand carries a message that reveals what the company does and how it does it. An effective brand development process builds trust in potential customers and shapes perception.
According to research by Nielson, 59% of consumers prefer to buy products from brands they know. Therefore, you need to make your company recognizable and understandable.
Brand promotion is a complex process that includes:
- Official announcements
- Marketing materials
- Conference stands
- Messages on social networks
Together, these brand elements forms the perception of the product and the company as a whole.
Jeff Bezos once said, "Your brand is what other people say about you when you're not in the room." It is the brand strategy that forms the impression of the final consumer. If you can do it right, you will create a brand that will survive even the most difficult failures.
Capture Your Target Audience's Focus
All your decisions should be about your customers. People are much more willing to go to those who are interested in them and show concern.
It is essential to understand that the client's focus is not only on a high level of service. For example, Amazon spent years building their brand through researching customers and their needs.
As a result, the company has created a brand that is familiar to everyone. In the United States alone, 150.6 million people had used Amazon's mobile app in September last year.
But their primary win is customer confidence: 89% of users say that they are more likely to make their next purchase on Amazon than on similar sites.
It would be impossible to achieve such results without a competent client-oriented brand strategy consulting.
Inspire Customer Loyalty
You need to focus on a specific audience and focus your brand on those interests.
Apple is a prime example of this strategy. Steve Jobs managed to create a high-quality product and enter the same perception as consumers. Jobs gave the system a sense of exclusivity, and people line up to own Apple products.
Apple's global brand strategy isn't just about the product itself: Its official stores are an essential part of the chain.
People will not always just pay for the product, its functionality, and its quality. They will be willing to pay extra for the brand and for the opportunity to become part of your broader community.
This way, you will not just get customers but very loyal clients, people who will be immune to the actions of your competitors.
Social Media Branding
Nobody walks around thinking “where can I find a new interesting brand?”
To get noticed, you need to appear where your target audience is: social media.
To connect with customers through social media, you need a social media marketing plan that aligns with your brand.
How can you increase your social media exposure that allows you to connect with your brand's target customers?
PlayStation demonstrates an example of successful implementation in social networks. Over the past 5 years, the company has managed to increase the number of followers on Twitter by 376%.
The variety of content the company produces promotes engagement across its customer base on social media.
Simplify branding content as much as possible, but not at the expense of quality.
For example, design your logo to stick out from your competitors, but not so much that customers can't connect it directly to your brand.
Slogans should be memorable, the idea should be simple and clear.
This also applies to the product. Give people something that is easy to use. Nobody wants to read an endless manual to understand how a blender works. The user wants to press a button and see how the machine is working.
According to a Harvard Business Review study, 63% of consumers are more likely to buy products from a brand that demonstrates the ease of interaction with it. And 69% of people will prefer a brand because of its simplicity.
Instead of spending hours listing all the benefits of a product, highlight the most important. Package what sets you apart and offer it to your customers. Believe us; this will yield more results than long lectures on how good you are.
For example, Volkswagen could endlessly describe the merits of its cars. But instead, a simple and clear slogan was chosen for the advertisement:
Everything is simple and straightforward, and there is enough information to interest the customer. Then the client is free to compare the models himself and choose the one that suits him the most.
Explore Different Types of Branding Strategies to Drive Success For Your Company
Brand strategy requires deep research and certain skills. You can't do without a strong team that will assume every nuance.
Capturing your audience, convincing them to stick with your brand, leveraging social media, and simplifying your branded content all provide opportunities for your business to grow through branding.