We are living in a world of brands, irrespective of the reviews, we believe in brands. But do we even realize that these companies have excellent branding strategies for their promotion? The brand name carries numerous essentials and recognition and the strategy which makes this recognition of the brand is the branding strategy. In 2020 the branding strategies have been changed that everyone is talking about.
Are you a brand? Do you want to know the new hacks of expert branding? Then here you go; you can understand the top 10 expert branding strategies and you can apply them to your newly opened company or brand. Every company has a brand and the brands and they have to make a unique brand presence in the market. There is an innumerable competitive brand in the market, so it might seem difficult for you to make your own space in this running world.
Some renowned companies or businesses have widely accepted the skills of branding or some have worked really hard on developing new branding strategies. Let’s take an instance when we think of “Amazon” it automatically brings in ‘reliability’ and ‘authenticity’ whereas when we think of “Lime road”, we are not too sure of the authenticity or the facility or anything else but does that mean that that “Lime road” has poor quality items or lack of any service? That is not the case, it is solely because Amazon has done an expertise successful branding internationally in which Lime road has failed may be or there might have been some other marketing glitch.
“Brands” define standards and also sets standards. Your brand must be equally communicative to your target audience for which you will have to follow some compelling branding strategies. Now you might think what is branding? Right here we have answered all your queries pertaining to expert branding and branding strategies.
What is Branding?
Be who you are! Branding is all about showing the world who you are and be the most unique one. The most important thing is to remember that you are not the only one in the market. There are many more companies that do similar jobs like you hence the challenge is how to make yourself look different. There are some hacks that have to be followed before you prove yourself as a brand.
Trust is the key:
Creating trust between the brand and the customer or the target audience is the key factor of branding. Never fail to keep up to the trust of ‘loyal customers’ or ‘regular customers. You should always provide the best quality of products and keeping the promises without any failure.
What are the Expert Branding Strategies of 2020?
These strategies of branding are nothing but some techniques to show the presence of your brand. Let us describe stepwise what are the steps that can be taken towards a successful branding.
- Describe and Define your Brand
This is the most significant step for branding of your product or the brand. You need to understand your product, the importance of the product, the vitality of the product and the aim of the product. Before you go vocal about your business, you must know what exactly are you trying to put in front of your target audience.
Example: ‘Puma’ is very similar to ‘Adidas’ as we all know, both of them have similar products and they are huge magnificent brands but in the statistics of the past 10 years, Adidas has been more popular than Puma. One of the major factors is the trust that Adidas has successfully grown among its customers.
- Know Yourself
As we have already been mentioned earlier, you must know your brand. If you are a merchandise-based brand then you must mention your qualities accordingly. What kind of branding you thing Adidas and Audi would do?
Example: Adidas is mainly known for the quality of the jerseys it makes but they make their brand presence with dry-fit technology. While Audi is mostly known for the best quality car which is similar to any other branded car or luxury car but the branding of Audi comes where it has been compared to a racing car.
- Customer Satisfaction
Customers play the most vital role, which means that the customers will have to be pleased with your brand. Make your brand customer-friendly, which means firstly you will have to figure out your target audience and then provide them with whatever they want.
Example: Suppose your customer is looking for an “i10” car and you do brand of spacious car then that makes no sense because that particular customer is looking for a small car that gives a cosy feel.
- Consistency is Service and Branding
A good brand who is an expert in branding will always know how to keep up with consistency. Your subject of branding of your product must be consistent and not changing frequently.
Example: If you are promoting your product for quality then suddenly you should not change the branding policy. If your branding is about the ‘leather quality’ of “Gucci” bags then you should not suddenly change the branding of Gucci bags for the ‘metals’ they use.
- The Flexibility of the Brand
Now you might think that how can a brand “consistent and flexible” at the same time. This is not much of a problem while branding makes the standards you can also be flexible which would help your customers to grow more interest in your product.
Example: Luxury brands like Gucci and Hermes are similar kind of business so Gucci can slyly adopt a few features that Hermes do for their branding. Per say, Hermes mostly produces vibrant colour bags, hence Gucci might be a little flexible and along with the best quality leather bags, it can also provide the widest range of colours in bags.
- Strong Customer Base
It is very significant and important for a brand to make a strong customer base which can be created only with the authenticity of your product and also with the reliability of your product. You will have to be constant in finding out about the needs of your customers and keep on developing time to time on your skills.
Example: If ‘Adidas’ knows that its customers like the mesh technology in their jersey then Adidas would try to make more and more developments in the mesh technology of the jerseys to be the leading jersey seller in the market.
- The ‘Name factor’
Many of the brands are doing great in the market with just the name of the brand. The name of the brand creates such an impact that a customer would not think twice before buying the product.
Example: If you are looking for nail colour, you go to a shop and ask for nail colours and you are shown some brands like Lakme, Nykaa and Elle18. It can be said with a full guarantee that 70% of customers would choose Lakme, while 20% would choose Nykaa and only 10% would choose Elle 18. Lakme is sold out by name only., it might be seen with testing and research that all three brands are quite the same by quality but Lakme is a bigger brand as there has been humungous branding.
- ‘Logo’ of the Brand
Another important aspect is the logo of the brand, make a logo that is easily relatable and can be remembered easily. Logo and taglines make a huge impact on customers. The smaller the tagline and the more impactful the tagline is the more effective the brand would be.
Example: Tagline of KFC which is “So Good” is very cool and impactful. It makes us believe that KFC chicken is the best chicken. We know that there are other such fried chicken brands in the market that are or might be better than KFC but we still love to believe the KFC is the best-fried chicken in the market because it is “So Good”.
- Communicative Brand
Your branding should be such that it keeps a space for communication. Your brand should be such that you are able to reach out to a most customers. Make your presence wide in the digital world. Show your presence in every possible platform and try to reach out to the maximum number of customers.
- Know Your Competition
When you have to sustain in the market, you will have to know your competition which also means your rivals. You must know who your competition is and why are they your competition and what all types of things you need to work on to beat your competition.
Example: If we consider two hair colour brands Loreal and Garnier, both are equally famous in the market but the correct branding has made Loreal more successful in the market.
These are the major factors of expert branding strategies that a particular brand must follow to become a major brand in the market. There are also other parameters that can enhance your brand presence, know them all.
(The author, Ariana Smith, is a passionate blogger. She loves to share her thoughts, ideas and experiences with the world through blogging. She is associated with Follow the Fashion and Finance team).