What is Branding? How It Works And Why Your Business Needs It:
20th Feb 2017
What Is Branding? Why Is It Vital To Future Consumer Products and Businesses?
“Branding” – The word that’s fixated industries since the early 90’s has become an integral part of marketing strategies all over the world. The need for innovative new ways to make an impact on gaining new and existing consumers is essential to company growth - but it’s more than just printing using your customers’ favourite colours. We’re now looking at a transition in the way businesses are operating, choosing to build a brand over just providing a general service which in most cases just isn’t sustainable enough.
Good quality branding should appeal to a target group of people and provide more than just a service.
On average it takes a consumer 5 times to see a name or product before it becomes recognisable. To do that effectively companies have to appear completely different from the next company or competitor.
Companies with a USP (unique selling point or exclusive product or service) will find it a little easier to compete by emphasising their exclusive benefits. Companies without a USP will have to rely more on company personality where bold branding has to state:
1) “This is who we are…”
2) ”We’re a solution to this for these reasons…”
3) “Together with you (the consumer) we are going to…”
Bold branding may be time consuming but with technology advancements it’s a business approach which lasts longer than a unique product which could be made obsolete tomorrow…
Branding creates a sense of belonging:
The 21st century society has given birth to multiple sub-categories in demographics, generated by changing popular cultures – focusing on the ideas, customs and behaviour of a social group.
As social animals human psychology in branding indicates consumers want a place to belong and a place to share their identity with like-minded people through their preferred brands and want their products to reflect that of their realm.
Use intelligent design to draw your target:
Eye catching designs using vibrant colours and high quality printing may be a way of enticing consumers to view a product however ensuring the consumers mindset is geared the same as the company upon approach depends on conveying exactly the message to the audience during the introduction stage of the company - when they first pick up the product.
It’s critical to use the right colour schemes, brand messages, material finishing and relevant information to compliment the image of the company to appeal to the target audience.
Using the ‘7 second first impression’ method, it’s essential to showcase personality through the company using clear marketing messages, even consider personalisation because one size doesn’t fit all.
Research shows 84% of marketers believe personalisation has a direct impact on sales and customer loyalty, decreasing returns, refunds and negative experiences. So it makes more sense to attract bees with honey than to smash the entire hive in hope you don’t get stung.
Provoke positive emotion, because emotion leads to action!
Customers take interest in a strong brand and will often conduct further research into the company before committing to purchasing.
Instantly this is curiosity (an emotion that’s caused a consumer to dig deeper) and is the beginning of brand engagement. A strong nexus connecting business, consumer and products.
Continuity with brand engagement makes customer retention, bringing waves of enthusiastic consumers sharing the same kind of passion (another emotion) for the brand which leads them to share their experience and inspire other people to join in, spreading the opportunity for a sense of belonging. With this a ‘domino effect’ begins to take place.
Simplify & Diversify:
Think like that one drinks brand with the red can if you can remember what they’re called. They have one product, yet with continuous tweaks and engaging with their customers the product has managed to dominate the market for the past 130 years. How? They create little sub-categories to that tweaked product for a popular consumer demand thus diversifying the product portfolio - but only slightly. The product on the shelves today has completely different ingredients to the one sold over a century ago.
Ask yourself what other coloured cans they’re using today? Then how did you know which company we’re referring to after specifying “red can” only...It’s clever stuff!
Overall, consumers will act as a fundamental part of the business and it’s developments with their continuous insight and input that can determine the rate of success of any company…a good brand listens and adjusts.
As Bruce Lee said: "If you put water into a cup, it becomes the cup. You put water into a bottle and it becomes the bottle. You put it in a teapot, it becomes the teapot. Now, water can flow or it can crash. Be water, my friend."
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