Branding is key for businesses, but selecting the right approach can be tricky. Review the different types of brand strategy to see what works best for your business and overall company vision.
UPDATED: December 13, 2021
Understanding different types of branding strategies and brand marketing can help your business engage customers and drive success.
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It's not enough to release a good product and offer a reasonable price. You also need to build your brand to be on the same wavelength as consumers.
There are five main types of branding:
Once your company settles on branding type, it is time to think more about the brand marketing. 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 types of branding strategies companies can pursue to create a memorable brand that can take root in customers' memory and hearts:
Define your brand
Capture your target audience's focus
Inspire brand loyalty
Use social media
Simplify your brand message
With the right type of branding strategy, your company can begin a successful journey in your target market.
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 form 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.
To have successful brand marketing, your branding must be fully defined.
Capture Your Target Audience's Focus
All your decisions should be about your customers. 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 by 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 competent client-oriented brand strategy consulting.
Once you factor in your target audience in your brand marketing, the path will be clearer as you start formulating key elements that will gain their attention.
Inspire Customer Loyalty
Once you focus on a specific audience, you need to 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.
Use Social Media
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 Your Brand Message
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. Branding designs in another element of your brand marketing.
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.
It is sometimes best to be simple when it comes to branding strategies.
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.
Find ways to use the five types of brand strategies in your business:
- Define your brand
- Capture your target audience’s focus
- Inspire brand loyalty
- Use social media
- Simplify your brand message
Start with defining your brand, and then the rest will follow. 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.