Do you need your business to thrive? Then apart from a great product, harness the power of branding. Branding is not just for the big companies with bigger budgets. You want to thrive amongst cut throat competition, right? Then even the small businesses need to embrace branding.
Common Ingredients of Successful BrandsBefore you know the secret strategies to successful branding, let us talk about the common features of branding first. Check if you have these ingredients incorporated into your existing branding strategy.
Know Your AudienceThis ingredient is true regardless of your business or profession. Once you know your audience it can help you set the tone for all your communication to that audience. Get your audience to relate to your content and your message. Then the creation of this organic connection is valuable for your business and services.
Unique Selling PropositionEvery successful brand has something unique about them that makes them stick out of the crowd. Think what helps people differentiate between McDonald's or Wendy’s. They both sell burgers and fries, right? But they both have their unique selling propositions.
Passion for Product/ServiceThink about Apple when it had Steve Jobs calling the shots? His passion for technology permeated through his products. After his passing, Apple may have lost its simplicity.
Consistency in Product/ServiceWhen a business or a service is consistent, customers appreciate that. It gets the business repeat sales and loyal customers. This is enviable, considering the volume of competition most businesses face now is high.
Secret Ingredients to a Successful BrandingYou want your business to stick out of the crowd and not forgotten. You need smarter strategies to make your branding successful. Here are some not-so-talked-about ingredients to successful branding:
Create the Need like Apple, AirbnbEver wondered why Apple products were so successful? You cannot deny how the iPod or the iPhones were so ahead of their time. The iPhone practically paved the way for smartphones. Apple’s advertising slogan “Think Different” in 1997 made a big impact. A product was here that people didn't even think they needed.
What is common between Apple and Airbnb? They both created a need for its consumers. The 2016 Olympics in Rio was a testament to the revolutionary idea of renting homes. Airbnb paved the way for alternate accommodations for travelers on a budget. So, what can you do to position your product or service to your target audience?
Quality Over Quantity like PixarSome of the best-animated movies are by Pixar Computer Animation Company. When you know the movie has a Pixar banner, you can almost guarantee it will worth your time and money. Why? Because they put quality over quantity in their product. Pixar is known to put in at least 5 years into each movie. Now that is a rung higher than passion. It is a commitment to excellence. So, what is your brand known for?
Cover Everything like GEA successful branding strategy is more than just a cool logo or a tagline. The best kind of branding ensures that the brand has value, economic value! Brands get more business because of their intangible value. For instance, Apple is valued at $98.3 billion. So, if you want to get more value for your brand, consider venturing like GE. They are everywhere: from medical equipment to oil and gas. That way, if one business fails, GE’s strong brand value keeps them standing firm.
Target Specific Demographic like BMWWe discussed how important knowing your target audience was. Now the secret to successful branding knows how to use that information. Then position your product or service to that audience. BMW does that brilliantly. It designs its cars with robust interiors and exteriors. It matches to their target audience who is high income, either a bachelor or newlywed, usually a professional or executive.
Positive Spin to Bad PR like ChipotleWhen there is a scandal or a conflict to your brand, don't get under the pressure. Get over it gracefully as Chipotle did. There was a scandal about e-coli spreading through Chipotle products. But the brand has decided to push back with positive brand messages. They are all about food safety standards, using high-quality ingredients, etc. It is a great reminder of everything that the brand stands for in the first place.
Find Your Digital Voice like GEWho would've thought an industrial company that covers everything from aircraft engines, power generation and oil and gas production equipment to medical imaging, financing and industrial products is the best social media brand today? The way they convey what they do through their visual imagery is fantastic. Their content gets people interested in what they do. General Electric (GE) creates that curiosity about science and technology through social media. Do your marketing efforts help increase your brand value this way?
The Power of Branding
Infographic Source: Missdetails / Featured image: shutterstock.
Alice Clarke is a content strategist from Top Aussie Writers Review and a writer. She is always in search for the next thing in marketing, technology and startups.