Famous speaker and writer Brian Tracy, the CEO and Chairman of Brian Tracey International once said, “A brand refers to a pledge you enter and is recognized for keeping to the people whom your business is trying to inspire.” Although we human beings rationalize logically yet choose emotionally.
1 – Leverage your company’s name for branding
Big brands first make a reputation among their customers with high-quality products/services and great customer service. This makes them popular in their industry
Then, they leverage the fame of their business name to expand brand recognition. Customers generally associate a brand/business with Logos, jingles, packaging, or colors. Giant companies such as Pepsi, Nike, and Pfizer all use their brand name to get recognized by their customers and target market.
If you want to brand your business in the best way possible in 2022 or you are going to launch a new venture this year, this article will help you.
2- Analyze what your competitors are doing
Your brand strategy should be unique. After all, you need to stand out from the crowd. If you brand your business in the same way as your competition is doing, why your customers will prefer you?
To haul in your target audience and earn revenue, you should give your customers a reason to skip all your competitors and choose you. You can only attract them by using a unique branding strategy.
Put in some time to research what other companies in your niche are doing. One good way to do effective brand competitor research is to make a spreadsheet.
Your spreadsheet may focus on these areas
- The marketing methods of your competitors both digitally and physically
- Their steadfastness in keeping up with their visual identity and communication on all platforms
- The number of consumer reviews, ratings, and social media tags on their website (if there are any)
The trick is, to begin with, a few biggest competitors and create branding objectives according to their activities. Give this phase its due importance because branding is all about showing yourself as the better choice than your competition.
3. Create A Mission Statement for your branding
We have already discussed that your branding strategy must show what your business is all about. What are your exclusive aims and goals? And what are your vision and unique value proposition?
You can understand that these things have to be different from other brands in your industry. Market your brand in a way that shows your value proposition. It will act as a driving force that will encourage them to become your loyal customers.
But this will only happen if you know what is the unique value your business proposes to its customers. One easy way to do that is to craft a good brand mission statement.
It will have these two aspects.
- Why you have launched a business/brand or product/services?
- What your brand does and how does it operate?
Furthermore, create a brand mission statement according to your target market and what are its requirements. For instance, if your business sells medical items, your mission statement may go like, “serving patients and helping them to be healthy, happy and well”. The point is to make a brand mission statement that clearly tells what your brand does to your customers.
An ideal brand mission statement is precise, gives a strong message, and is easy to remember.
4. Promote the advantages and fundamental characteristics of your brand
Remember that what you are promoting and trying to sell is also being promoted and sold by tons of other companies at the same time. And if you belong to a high-competition field, branding becomes even more difficult.
The key is to keep repeating the significant qualities and advantages of your brand. Make this your mantra “Repetition is the mother of all persuasions”.
Suppose, you belong to the smartwatches industry. All the brands selling smartwatches will be vouching for their brand. If your value proposition is reasonable prices and superior customer service, keep highlighting and repeating them. it will boost your branding efforts.
Showcasing and repeating your value proposition will compel your target audience to ditch your competitors for you.
5- Keep tweaking your branding strategies
Huge brands that have reached the bandwagon effect don’t get this success overnight. Rather, they had been implementing branding strategies, evaluating weak areas, and tweaking them as needed for a long time.
Even if you come up with the most effective branding strategies, you would need to utilize them one by one in each phase of your branding. The process happens gradually. If you aren’t open to changing your initial strategies, your branding will not be as effective as you would like.
Remember change is the only constant in life. This is also true for branding. Don’t keep following the same branding techniques you were using in the beginning. Change is the key to successful branding.
6- Use video marketing for effective branding
Use a chunk of your branding budget to leverage video marketing. There are a lot of ways to utilize new technology for branding. Digital advertising offers a lot of mediums to brand your business. Though all of them are powerful, video promotion beats them all.
If used properly, it will significantly improve your brand recognition which will result in an improved brand worth. Many brands have successfully used videos to showcase their brand as unique and value-adding in front of their target market.
A video is watched by an infinite number of people. It gives a golden opportunity to communicate who you are and what you do with lesser effort. With video-sharing platforms, you can engage with your target audience from all over the world.
Your branding video should be succinct, concise, focused, and simple. It should emphasize your brand’s identity and not on the marketing of your products/services.
Endnote
Branding is more than just logos, catchphrases, and mood boards. A business needs practical branding goals to succeed and stand out. We hope that these tips will help you to make a successful branding strategy and implement it.
Happy Branding!