7 Significant Element on Branding Strategy

7 Significant Elements in Branding Strategy

Building a brand is a delicate process.

Just like people, brands are composed of many facets and complex dimensions, making each one unique and distinct from all others in the marketplace. The ability to hone in on these differences and create a brand strategy that emulates a one-of-a-kind identity is the ultimate measure of success for any company.

 There are a million ways a company can outline its brand strategy, and there is no one right way to do it. To help streamline your efforts, this article will walk you through Seven Vital Elements that should be included in your brand strategy, no matter which overarching direction your company decides to take.

1.Target Audiences

A brand does not attract an audience, a brand is its audience. No matter how flashy your logo, how your product performs, or what clever marketing tactics you employ, your brand will ultimately be determined not by what it is, but by who it attracts. Your brand stands for what your audience stands for. You may think your product or content does one thing, but it is your audience who decides what it actually does.

Ikea created The Share space, a place for Ikea fans to share their own spaces at home, browse for inspiration and even discuss interior design tips and tricks! Ikea features different interior designs weekly, from the best-designed bedrooms, bathrooms and even corridors! There is even a design blog, run by Ikea, that shares tips and tricks with their fans on how to perfectly style that Ikea drawer you just bought.

via GIPHY

This allows fans of Ikea to show off how they use Ikea’s products creatively, which is obviously great (and free!) publicity for Ikea. Ikea’s fans also feel valued and a part of its community, providing a sense of brand loyalty.

What we can learn? Guiding how your customers use your product in the best way possible not only acts as a free advertisement but also making the customer bound to feel special and acknowledge as well.

2. Increasing Brand Value:

A business needs brand equity to raise the brand value. The more visibility your brand has, the more dominant the brand would become. For instance, a diaper brand like Huggies or Pampers is more known than a smaller off-brand. The money Huggies and Pampers have put into marketing their brand, building awareness of their products, and creating loyalty with diaper-buying consumers increases revenue when shoppers chose their diapers over other less-known brands.

Brand value not only creates more revenue, but it also affects the market. When consumers find value with a brand and are loyal, it can discourage other companies from entering the market. This protects market share for existing companies.

“To me, marketing is about values. This is an extremely complicated world; it is a very noisy world. And we are not going to get the chance to get people to remember much about us. No company is. So, we have to be really clear on what we want them to know about us.”

STEVE JOBS

3. Brand Promise

A brand promise is a value or experience customers can expect to receive every single time they interact with that company products or services. The more a company can deliver on that promise, the stronger the brand value in the mind of customers and employees.

If the customer experience does not match the brand promise, the value of your brand is weakened. An example of a brand promise not living up to expectations comes from Ford Motor Company many years ago.

During the 1980s, Ford’s brand promise was “Quality is Job 1.” However, owners of Ford’s vehicles were not impressed as they routinely spent money on repairs. It got so bad that consumers gave Ford their own version of a brand promise: “Ford—Found on Roadside Broken.”🙂  Today, Ford’s brand promise is “Go Further.”

4. Brand Perception

Brand perception is what customers believe a product or service represents, with the right marketing strategy the company could manage the perception well depending on the approach and which market segments they way to tap on to. Brand perception comes from customer use, experience, functionality, reputation, and word of mouth recommendation – on social media channels as well as face to face.

Take Volvo. Historically always synonymous with safety and excellent build quality within a somewhat boxy design, its public brand perception was once that it was a dull car for sensible, staid people, with jokes about ‘Volvo drivers’ – poor drivers protected from other road users by their indestructible, tank-like vehicles.

From the early 2000s onwards, Volvo underwent an image revolution. Embracing authentic, sleek, minimalist, and fashionable Scandi-chic design without relinquishing its top-notch safety reputation, Volvo became a premium car brand, easily competing with the likes of Audi, BMW, and Mercedes-Benz. Volvo is also at the forefront of green technology, the evolution of autonomous driving and even customer experience – you can now get your goods delivered directly to your Volvo.  Volvo drivers are no longer laughed at: they are envied.

5. Brand Positioning:

Brand positioning has been defined as the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market. In other words, brand positioning describes how a brand is different from its competitors and where, or how, it sits in customers’ minds. A brand positioning strategy therefore involves creating brand associations in customers’ minds to make them perceive the brand in a specific way.

Tesla is a luxury brand that is more expensive than its competitors. Because of that, they leave price out of their branding and instead focus on the quality of their vehicles. Tesla cars are long-range, eco-friendly, and electric — in addition to being luxury vehicles.

Tesla differs from other gas-powered luxury vehicles because their cars are electric. They differentiate themselves from the standard electric vehicles because their cars are of higher quality and have a longer range.

Tesla built out a niche market for themselves and a fun brand to match it. CEO Elon Musk has built himself up as a Tony Stark-like character, and the brand promotes its uniqueness through ads and quirky features, like “Ludicrous Mode.”

6. Brand Frequency

Anyone who has struggled to remember someone’s name at a party knows that repetition is key to information recall. It is the same with marketing – frequency of messaging is the best way to ensure people remember your brand. The more people see or hear something, the more they remember it., subconsciously.

In advertising, the effective frequency is the number of times a person must be exposed to an advertising message before a response is made and before exposure is considered wasteful. That is where frequency comes in: by being exposed to your message repeatedly, your brand becomes a key contender throughout the buying process.

Frequency bolsters awareness through familiarity; your brand becomes recognizable. From there it helps to build interest in your products and message, especially if you maintain brand consistency, and that can help keep your brand at the forefront of consideration once the customer has recognized a need or desire that you provide a solution for.

Frequency can also help your customer at their Zero Moment of Truth, becoming the very thing that spurs them to make a purchase. It can also be an important motivator after the purchase; assuming the customer is happy with the products and services you provide them, the frequency of your advertising can inspire them to make a referral.

7. Brand Experience

A brand experience is about designing a sensory experience that brings a person into a lasting and meaningful relationship with a brand.

The term “brand experience” came to life as many other terms in the marketing industry do, with the evolution of the media and channels that we use to communicate a brand’s message or story. There have been other terms used to describe our offering, such as live events, event marketing, experiential marketing, sponsorship activation, and the like. But what these terms fail to do is include one small but invaluable word: branding.

Branding is the ultimate goal of all marketing communications, is it not? And a brand experience is a more open-ended concept of branding, with a larger, more colorful set of tools at our disposal.

Humans have an intrinsic need to make connections with one another. We like to hang with our tribes. And part of what makes a successful connection is finding the right place to make It happen. Look at places like Starbucks — as a company, it understands that people do not just come to stores to grab a coffee and go. They want a place to meet with friends, a relaxing hour with a book, a mobile workspace, a familiar and comfortable living room atmosphere no matter where they go in the world.

That is why Starbucks created its stores around the sociological concept of the “third space,” which refers to a welcoming community space that fosters feelings of safety and inclusion.

This creates the perfect environment in which to connect face to face, and the more people connect like that, the more face-to-face connections they crave. The brand experience category speaks to that need on a higher level and bridges the gap between brands and people to make those connections possible.

Here is a succinct explanation of what brand experience is:

Facebook
Twitter
LinkedIn
WhatsApp
Email

Leave a Comment

Your email address will not be published.