If you want to become a business that generates a following that keeps coming back for repeat business, you need to have a branding strategy that resonates with your target audience.
The ability for a brand to reach out to people and connect others will draw customers away from your competitors and keep them coming back to you.
Whether your strategy is being the quality leader, the cost leader, or the lifestyle strategy that people want to associate with, you need your brand to stay consistent and follow that path. This helps your target customers identify with it.
What is Brand Strategy?
A brand strategy is quite simple. It is the way you decide to go about getting your brand out there and to reach your target market.
You want to engage with your customers, and create meaningful relationships with them.
For you to do that, you need to create a branding strategy that is geared towards their desires. How will you stick out from the rest of the competition? If your target market is cost-effective consumers, then you may want to consider lowering your price to generate more value for them.
You may want to consider even raising your price significantly, and approaching your brand strategy around being of much higher quality.
For these tactics to work, you need to market them on the perfect medium as well. If half your customers are over 50, and you’re only using social media marketing, then you probably won’t have much luck finding your audience.
We’re going to show you five easy ways to up your branding game for better success.
- Emotional connection
If you want to create a brand that resonates with people, you need them to feel like they are a part of the business. Help your customers relate to your business through your brand story.
You need to form an emotional connection between the brand and the consumer. There are many ways to do this, such as relating the product towards goals they wish to achieve, like being successful or being attractive.
You can also resonate with people by taking up a cause, such as marketing your product as being environmentally friendly, or not using any animals in product development.
Find a cause that most of your consumers stand for, and create a branding strategy geared around an outcome that supports it.
If you’re one of the top dogs in your business category, then what better way to advertise then showing everyone why you’re on top.
This leadership position highlights the quality of your product, and the value you bring by being the number one product.
You may be more expensive than the rest of the products in your space, but people want what you offer because of the connection attached to you as being the best product, whether it’s from an appeal, price, or popularity.
Products like Apple and Coca-Cola market their products from the top. In their cases, there is no need to compare their brands to another because they are the top brands in their respective industries.
Head on positioning
If you’re fighting for top branding real estate against a large competitor, then you might want to try to take them head on. Compare your product in quality against theirs.
A head-on branding strategy highlights your value and qualities over theirs. It makes clear why people should be inclined to switch to your product. You may have more features, a better price point, or do everything they do… but better.
This is a perfect strategy if you aren’t a brand leader, and need to take your branding game a few notches up. Or if you’re in a very competitive market with many different brands doing something similar.
Just be careful though, if you’re going to pitch your product head-on with another competitor, you must make sure all the information is highly accurate or it could leave you vulnerable to cases of defamation.
You might find your business at a plateau after a while. If you want to take your business to higher heights, you might want to consider a brand extension.
In a nutshell, a brand extension is when your brand launches into a brand-new market.
An example of this is if you have a bag company but want to extend into also offering shoes and fragrances.
You can leverage your already established brand name for your new product range. If you have done your brand well thus far, your brand reputation will easily carry its identity into your new product offering.
If you choose to do a brand extension, just make sure not to try something completely out of the ordinary, or it could dilute your brand’s value.
If your brand is known for high-value products at a good price-point, then making a new product and sticking your logo on it would be much more favourable over creating something new from scratch.
For example, Louis Vuitton isn’t making a line of handbags to market to cash-strapped consumers, as it would destroy their brand value significantly.
Associate new products with your brand, only if it fits your general portfolio and blends well into your overall company strategy and vision.
Crowdsourcing your brand
If you have a new product but have no strong brand around it, then get the consumers involved!
People love being a part of something new, and that’s why crowdfunding and sourcing are immensely popular now.
Allow consumers to give insight into what they think is best, what features they would enjoy to see, and how they would like to use it.
This can be a creative way to enter a completely new space and come up with something that people will enjoy. If the branding doesn’t resonate with a massive audience, at the worst case, you’ll have a nice audience of people who have strong desires to buy your brand and want to continue being a part of the process.
Every business needs some form of branding strategy. Branding is what keeps people emotionally connected to your business, and keeps them coming back.
Whether your brand resonates with them on an emotional level, or you help them live the lifestyle they want, you need to market them a product that they deem valuable to their lives. Help your customer to pick you over your competitors out there.
Make sure you do a ton of research on your target market, and find what they want out of your business, and build a brand generated around those wants. The customer is always right, you just need to give them what they want.