Brand Strategy 101: Understanding the Concept of Branding
Branding is an essential part of marketing. Back then, it was only defined as a name, slogan, sign, design, or a combination of these elements, that differentiate a company or a product from another. Its what makes a certain business identifiable. It is critical to businesses because of the impact it makes to their companies. Branding can make or break you. So it is very important that you plan it very well. And learning the concept of branding and its strategies are important.
Branding has been in existence for quite a while now. One of the best example of this is Coca-Cola. They’ve started to differentiate themselves from competitors through bottle shape and color among others. Top-performing branding agency studied and worked really hard to understand the concept of branding. But for most businesses, the question is still there.
What Really is Branding in the First Place?
A brand is a powerful concoction of the market. It creates tremendous value for businesses. There are lots of definitions of what a brand is. But the deeper meaning of it is sometimes misunderstood. It is so much more than the logo and the name. Brand is something that people identify when they hear a certain product. Especially if you start using that brand on social media advertising. Like for example, if you are given a chance to choose between two cars. These cars were made entirely similar. They have the same color, same size, and same engine. The only difference is that the other car is a Porsche while the other is Toyota. Which one will you choose?
My guess is that you chose Porsche, right? It’s because regardless of the product’s appearance, it’s the brand that really matters. And Porsche is known for manufacturing high-performance sports car. That’s what branding does to a company.
Brands are consist of different elements. And when these elements are fused together, it triggers the brain to remember that brand. Advertising agencies use these elements to create awesome brands known today. And here are the elements of a brand that you should be familiar with.
4 Important Branding Strategy Elements
1. Brand Name
Name is an essential element of almost anything. There’s actually no such thing that doesn’t have a name. It is what you are going to be known for at first. It defines your business as a whole and people will most likely get the first impression of your business through brand name.
2. Brand Identity and Image
Aside from the brand’s name, brand identity is important so people can recognize you. This may be through logo, graphic design, color, or any other kinds of visuals. Building a brand identity is a multi-disciplinary strategic effort. Every element needs to support the message and business goals as a whole. Brand identity is what your consumers will know you for. So it is very important that the identity of your brand reflects the values of your company.
Brand image, on the other hand, is the picture that people visualize when they think of your brand. Your brand image is what you will be known for by hundreds to thousands of people. And it’s even hard and sometimes impossible to change brand image. So it is best to plan out everything before you decide.
3. Brand Positioning and Experience
Brand positioning is the unique position of the brand in the consumer’s mind. It is how a certain product is placed in the market. Or if your product targets a distinct group in the society.
Brand experience is remembered when customers are happy with your service. It is a combination of everything that consumer experiences while using your brand. This is actually all about customer service. Based on the research, did you know that most people nowadays prefer brands that are excellent in customer service? This means that you will be known for, for the kind of service that you offer.
4. Brand Awareness
Brand awareness means that consumers are now acquainted with a brand. It also refers to how familiar your target audience is with your brand. And when your brand is being talked about in town, it is now referred to as “trending” In other words, your brand is now well-known. Brand awareness is essential when marketing and promoting your business. This is true especially in the early stages of your company.
Learning Brand Strategy the Right Way
There is a lot more to learn when it comes to branding. Defining your brand personality and standing out from others are also important. Especially now that there are a lot of advertising media available. These elements are the basic part of brand strategy. After mastering the skills of branding, you can now proceed to the next level of brand strategy. But until then, we advise that you get someone who can help you with your branding strategy.