In the past, we’ve seen farmers use their branding iron or cattle irons, which leaves a mark on their cattle, to show ownership and identification of their cattle. Likewise, today several marketing tools are used to show ownership of the product, indicating ownership is called branding. Nowadays, brands use logos for their brand identification. However, one needs designing skills and time to create a unique logo. Most businesses prefer investing in a reliable logo design agency or hire an expert freelance designer to get a logo for their brand. Meanwhile, a logo is only one element of branding.
So, what is the definition of branding? Branding is the promotion of your employee monitoring software or company(s) through different means of marketing advertisements. In other words, it’s a marketing practice that helps the customer to distinguish your company and product(s) from others. Branding your business is the effective strategy of doing a successful business as it helps to grow brands and have more profits. Remember, brand and branding are quite different as a brand is a result, while branding is a process. In branding, we take actions to nurture our brand.
Why is Branding Important?
Branding gives a company a definite structure that is the basic foundation for reaching the peak in this competitive market. It is the reason which makes branding a crucial factor.
Differentiation Among the Competitors
It is of no importance what your products are or from which industry you belong. What matters is that brand creates differentiation and status among your competitors. Whenever Apple introduce a new product, they always include an unexpected feature that surprises the world. This surprising power of Apple to introduce unique characteristics differentiates itself from other firms of technological industry.
Identification
The brand is made through logos, websites, taglines, and graphics. This gives the brand recognition, and it leads to more and more increases in brand equity. Therefore, you should get the services of a professional logo design agency to make an attractive logo for your brand. Besides, you need expert designers and developers to create your official website and deal with all the graphics-related work.
Consistent Customer Experience
The biggest challenge that a firm face is providing a consistent customer experience that is providing the same satisfaction on your products. It’s not easy! You can do it by using various social media platforms or doing it face-to-face. Here you have an advantage: it is in your hand to depict your product in your customers’ minds. But once you have established a consistent customer experience, the worth of your products increases.
Creates Loyalty
Brand value and customer satisfaction create loyalty. Customer loyalty should be that much strong that even though you change your logo or your name or you introduce something new, your customer should not hate your move and remain loyal to you. For instance, if you’re looking for some changes in your logo, make sure to connect with the same logo design agency or freelance designer who made that logo for you.
Types of Branding
You will find various types of branding strategies; a few of them are listed below:
Personal Branding
From the name, we can infer that this is individual branding. In this type, an individual is represented in such a way that his or her actions influence the public view and have authority. Celebrities, politicians, athletes, and religious representatives are examples of personal branding. Working on personality, attitude, walking style, gestures are included in this type.
Product branding
It is simply focusing only on a single product, containing all the firm’s attributes like logos, taglines, and style of the brand, which helps the customer determine your product easily. The logos and style of the brand are essential in this type of branding strategy. The logo design agency Landor provides its services to many big firms, including PepsiCo. Its logo is highly popular globally, as anyone can recognize it in the blink of an eye.
Corporate Branding
It includes all the market practices of the firm and also with other firms. Corporate branding is recognized by its symbol, style, slogans, logos, missions, brand value, and customers. Take the example of Nike; its slogan says, “To bring inspiration and innovation to every athlete in the world”, and has a Swoosh logo next to it with the “Just do it” tagline. It shows that Nike is that corporate brand which is not confined to only athlete, but it’s for people who work for their fitness.
Service Branding
This type of strategy provides customer service to the people. Primarily, all the food chain brands are included in this type of branding.
Co-branding
In co-branding, two or more than two businesses work together to make a positive impact and to generate bigger revenue. Nike and Apple is the best example as they are working together for a long time. When Apple first introduced the iPods, they partnered with Nike, so customers of Nike can do workouts with the help of iPods and this partnership further developed into Nike+.
Online branding
It is part of today’s virtual market. It needs social media platforms, websites and other internet content to do branding. However, to make your online branding effective, consistently use your company’s logo, for which you invested a hefty amount in a top-level logo design agency, and write compelling content along with eye-catching visuals.
Conclusion
Now we know different types of strategy. So what business strategy you are going to use? It depends on your brand identity, goals and objectives, audiences and the industry you are in.
