KEYS ON SUCCESSFUL BRANDING STRATEGIES
WHAT IS BRANDING STRATEGY
Great brand strategy revolves around clearly articulating your differentiation against competitors. You must continually push these differentiators to customers. But, one of the best ways to achieve this is by aligning your branding with your unique value propositions.
By definition, a BRANDING STRATEGY is a long-term plan for the development of a successful brand in order to achieve specific goals. A well-defined and executed brand strategy affects all aspects of a business and is directly connected to consumer needs, emotions, and competitive environments. Although it may not be right for every business, TV is the most powerful media available to advertisers ,and it has the potential to dramatically impact a communications campaign’s success.
7 Types of Branding Strategies
Personal branding describes branding that is used for an individual person, instead of branding for a whole business. This type of branding is often used to establish a person’s character, personality, or work as a brand.
This is one of the most popular branding types. Product branding focuses on making a single product distinct and recognizable. Symbols or designs are also an essential part of product branding to help your customers identify your product easily.
Corporate branding is a core value of business and a philosophy that a business develops to present itself to the world and its own employees. More so, effective corporate brands often seek to display the company’s mission, personality, and core values in each point of contact it has with prospective customers, current customers, and past customers.
Also, Service branding leverages the needs of the customer. Companies that subsequently use service branding seek to provide their customers with world-class service. They aim to use excellent customer service as a way to provide value to their customers.
Co-branding, is a form of branding that connects companies together. Similarly, co-branding is a marketing partnership between two or more businesses. This helps brands impact each other positively, and it may result in one growing its business, spreading brand awareness, and breaking into new markets. For example, Frito Lay and Taco Bell came together and made the Doritos Locos Taco that appealed to both audiences.
Online branding, also known as internet branding, helps businesses to position themselves as a part of the online marketplace. This type of branding includes a company’s website, social media platforms, blogs, and other online content.
In short, most companies use some aspect of online or internet branding in today’s marketplace.