How To Create Successful Branding
A brand is a word, term, logo or any characteristic that represents one product or service as distinctly different from those of others. In the last few years, there has been an increasing trend for organisations to brand themselves in order to stand out from the crowd. In today’s global marketplace, it is difficult to get customers to recognise and associate with your brand if they cannot see or touch it. Branding yourself and what you do can help create and build a positive reputation for your company.
Branding can be defined as something that gives the first impression of your product, service or organisation to the customer and helps them to make a connection between the two. Bystanders and non-customers are influenced by the appearance and behaviour of a brand and its products and services. A well-established brand is easily recognisable and recognised because it carries a certain amount of trust and credibility with consumers. Brands provide a feeling of comfort and contentment and help people relate to the products and services they buy. The intangible benefits of brands are invaluable to the modern consumer and help to build long-term loyalty and brand equity.
There are different types of brands including service brands, experiential brands and consumer brands. Service brands are those that have been around for a long time and help the consumer connect and feel comfortable with the organisation and the services they offer. Experiential brands are those created specifically to engage and interest the target audience in the products and services of a particular company and/or organisation.
Many companies use trademarked names, trade names and slogans to brand themselves, especially in the advertising and marketing field. These marketing tools can be very effective and help customers identify your brand quickly. However, many companies overuse these marketing tools which can result in dilution of your brand identity and impact on your brand value. Unnecessary use of trademarks and other forms of branding can also be illegal and can cause harm to your brand image and reputation. Brand protection is all about ensuring your brand name is not diluted or distorted by unfair competition from other businesses.
Brand equity refers to the fact that a brand’s performance compared to its competitors. It can often be determined by looking at the performance of popular brands in comparison to their competitors. Brand equity can be influenced by the quality of your customer experience, your employees and your social media channels. An effective strategy will take into account these areas as well as other factors such as product longevity, brand equity, advertising spend, positioning and other factors.
There are a number of strategies and techniques used to achieve successful branding. These include design, marketing, promotions and partnerships. Researching your potential competitors and learning about them is an essential part of any branding strategy. A successful campaign will make use of a variety of different types of media including television commercials, social media channels, word of mouth and traditional advertising. The more you research your competitors and create a tailored campaign, the better chance you have of achieving the branding you want.