Do you have a Branding Strategy for your business?

Branding

Branding is defined as a marketing practice in which a company creates a name, symbol, or design that is easily identifiable as belonging to the company. This helps to identify a product, or a service of a company, and to distinguish it from products and services of other companies.

It is a way of distinguishing yourself from the competitors, and clarifying what it is you offer that makes you the better choice. It can drive new business and increase brand awareness. Your brand should be built as a true representation of who you are as a business, and how you wish to be perceived.

Strong branding is generally meant that there is a positive impression of the company amongst consumers, and they are likely to do business with you because of the familiarity and assumed dependability of using a name they can trust.

Branding Strategy

Branding strategy is defined as a long-term plan for the development of a successful brand in order to achieve specific goals. A well-defined and executed branding strategy affects all aspects of a business and is directly connected to consumer needs, emotions, and competitive environments.

Your brand strategy must identify the following three core components of your business.

Purpose: Your business must have a functional and intentional purpose.
Consistency: Without consistency, a business will struggle to survive.
Emotional Impact: Emotion is what helps customers connect with you. A brand strategy helps you develop that emotion.

To begin the development of your brand's strategy you must have an understanding of the following four marketing components.

Primary Target Customer and/or Client
Competition
Product and Service Mix
Unique Selling Proposition

Importance of branding

Branding is absolutely critical because of the overall impact it makes on your company. Not only is it what makes a memorable impression on consumers, but it allows your customers and clients to know what to expect from your company.

Branding gets recognition: A business gets recognition, and becomes known to the consumers through branding. The professional logo should be powerful and easily memorable, making an impression on a person at first glance. Printed promotional products are a way of getting this across.

Branding increases business value: A strongly established brand can increase the business value by giving the company more leverage in the industry to generate future business. This makes it a more appealing investment opportunity because of its firmly established place in the marketplace.

Branding generates new customers: Once a good brand has been well-established, the word of mouth will be the company’s best and most effective advertising technique.

Improves employee pride and satisfaction: When employees work for a strongly branded company, and honestly stand behind the brand, they will be more pleased and satisfied, and have a higher degree of pride in their work and a sense of belonging to the company.

Creates trust within the marketplace: A professional and polished appearance and well-strategized branding will help the company build trust among the consumers and potential clients on the company, and its products and services, to do business with that company.

Branding supports advertising: Advertising is another component to branding, and advertising strategies will directly reflect the brand and its desired portrayal. Advertising techniques such as the use of promotional products from trusted companies such as Outstanding Branding make it easy to create a cohesive and appealing advertising strategy that plays well into your branding goals.

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