A branding strategy is a fundamental building block for any brand. Branding strategies are long-term departmental plans for a brand to achieve specified goals. It is important in order to clearly communicates the brand’s goals and what they stand for. It can also be used as a benchmark for the brands progress and help the brand gain competitive advantage. Here are 10 of the best branding strategies we recommend:
- Corporate branding
This states the main aim and values of the brand and also how it would like to be perceived by its consumers. Brands can gain popularity from their company names and gain recognition from it.
- Brand Differentiation
This strategy allows the brand to personalize it’s products for it’s preferred market resulting in consumers relating to the brand as they feel it was made specifically for them. Brand differentiation can also mean that the brand provides superior quality in comparison to their competitors.
By differentiating, a brand can provide the same good or service as another company, however change the voice and tone of their specific brand. An example would be the difference between Apple and Samsung. Apple sets a confident tone and conveys quality high-tech products, whereas Samsung portrays a slightly more relaxed tone and focuses on providing the latest technology to it’s consumers.
An example of a brand that has adopted this strategy is Lush. They specialise in handmade products that are vegetarian and animal cruelty free. This is different to other cosmetic brands that mass produce their products.
- Identify target audience
Once a brand enters a market, they need to establish who they’re targeting in order to focus on the desired audience and appeal to their needs. For example, brands started launching mobile apps to increase the convenience for their consumers. This appealed to younger generations in an attempt to dismiss traditional processes.
- Individual branding
Brands can decide to give a specific range of it’s products or services a separate brand image. This is useful if the range has a niche audience or provides a different experience to consumers in comparison to the brand as a whole. Individual branding can help a brand tap into another aspect of the market that they may not specialize in, this is good for expansion purposes.
An example of a brand that has implemented this strategy is Procter & Gamble which has various individual brands such as Pampers.
- Product branding
With product branding, the focus is on a single product. This deals with making the item distinct and recognizable to consumers by use of designs that make the item easy to identify.
An example of a successful brand that uses product branding is Coca Cola. The use of product branding and consistency has helped coca cola maintain it’s legacy throughout the years.
- Online branding
This is also referred to as internet branding. A number of brands have taken to this form of branding as it is the most fitting in such a digital era. The use of websites, social media and blogs are very relevant in today’s marketplace.
- No-Brand branding
This strategy allows the brands products to ‘speak for themselves’ and also usually means consumers spend less without sacrificing on quality. By creating generic products that consumers love and trust, the brand creates an image for itself built on the reputation of the products they offer. This strategy is minimalistic, which allows for neutral branding.
An example is Muji. This Japanese brand specialises in household consumer items and is known for it’s minimalistic aesthetic. Their ‘less is more’ philosophy ties in with their chosen branding strategy which appeals to consumers who prefer unbranded products.
- Attitude branding
Attitude branding appeals to the emotions and feelings of consumers. This goes beyond the brands product or service and gives it some personality in the eyes of it’s audience. An example would be Nike, they are a brand that represents the lifestyle of it’s consumers. They have shied away from the typical definition of ‘athletic’ branding and have expanded it to allow consumers to define their own perspective of athleisure and have made it clear that anyone can be an athlete.
Successful brands do not lack consistency. Consumers will be loyal to a brand that is always able to provide and satisfy their needs at all times. Once consistency is lost, consumers will look to other brands that will not let them down. This is important for brands as it builds brand loyalty.
This strategy encourages collaboration between brands and increases the positive impact each brand has. This strategy is beneficial as it helps brands expand into new markets and spread awareness.
Brands can adopt many other strategies in order to guarantee success. These 10 branding strategies are what we believe are the most crucial in order to see growth and increased consumer satisfaction.