The importance of branding and Branding strategies Did

The importance of branding and Branding strategies

Did You Know § Do you know how many marketing messages we’re subjected to every day?

3, 000

More importantly, § Do you know the number we can retain according to the American Association of Advertising Agencies?

Less than 100!

§ And, just like than you know the reason for this lesson.

The Importance of Branding

§ Branding is a key concept in marketing circles, as it is the pivotal springboard that can thrust your business forward, and give you a competitive edge. § A well-defined and strong brand will drive sales, build customer loyalty, create brand value, and most of all, it will be the catalyst for business growth, as consumers will be motivated to buy your product.

The Importance of Branding

§ Prior to launching an advertising campaign or developing a marketing strategy, it is crucial that you determine your brand’s identity. § Simply put, a brand’s identity is its singular “personality” that serves to identify a company or business and distinguish it from its competitors. .

It Starts With An Identity

§ Although “branding” has become a buzzword popularized by entrepreneurs, many people still have trouble grasping what the term means

What Will Your Company Be Known For

§ Many different components can go into developing a brand, including eye-catching designs and a unique name; however, a brand encompasses more than just a logo. § It’s what clients take away from the experience of working with you. It’s what your company stands for and is known for within your market.

§ It’s what clients take away from the experience of working with you. It’s what your company stands for and is known for within your market. § Coming up with a brand means coming up with what your company promises to deliver, whether that’s perfectly seasoned gourmet pizzas or impeccably tailored shirts.

§ Branding includes the overall style of your company and the meaning it has to clients. Ideally, it would motivate people to buy your products or use your services.

What Is Your Strength

§ If you don’t define your brand, you create the possibility that someone else will do it for you, including your If you don’t define competitors. your brand, you create Defining possibility that someone else will do it you brandthe allows you to control—or at least for you, including your competitors. Defining youothers brand allows you to control— influence—how perceive you. or at least influence—how others perceive you. An effective marketing brand marketing strategy § An effective brand strategy minimizes your company’s chances of into the background and solidifies minimizesfading your company’s chances of your reputation as a veritable force to be fading into the with. background and solidifies reckoned your reputation as a veritable force to be reckoned with.

§ Strong branding demonstrates that a company aspires to something greater than just business as usual. § By raising your status from a basic commodity to a brand, consumers will be willing to pay a premium for your services or products.

How Do You Expand On Your Strength

§ Ultimately, branding is perhaps most essential because it increases the chances that people will remember you, even as the battle for consumers’ attention (and money) rages on.

§ A fully-developed brand identity will push your business to the forefront of consumers’ minds, making them more likely to recognize you, enlist your services, and remain loyal long after the conclusion of your professional relationship. § It takes a lot of time to build (and maintain) these valuable customer relationships. Let me give you a few examples of successful branding:

How Is Your company recognized In the Market space in which you compete

§ Coca Cola: The majority of people instantly recognize this brand. Their logo, the Christmas songs, TV commercials, ads and cans are a part of the Coca Cola branding strategy. § This brand has been around for decades, allowing its message to go from generation to generation, and all of Coca Cola’s efforts have paid off.

§ Wouldn’t you agree it is quite hard to imagine a world without Coca Cola?

What Is Your Value Differential And Is It Contained In Your Brand

§ Mc. Donald’s: Remember when you were a kid and going to Mc. Donald’s was a treat? Of course you do! § This is why you will probably take your (future) children to come and have a quick bite here every once in a while. Mc. Donald’s introduced Happy Meals for children, including a small toy in every meal box.

§ A smart move, given the fact that competitors soon offered similar deals. § Furthermore, they incorporated the word “Mac/Mc” into their product names, like “Mc. Nuggets” or the famous “Big Mac. ” § These decisions have had major influence on the way customers perceive the brand.

Why is this Important

§ Apple: Apple has found a way to become one of the most popular brands in the world by branding themselves successfully. § Mac computers aren’t for just anyone, nor are the i. Pad or the i. Phone.

§ The late Steve Jobs was known for his way of presenting new products to the public and used his black turtleneck sweater as part of his strategy. § Even the use of putting an “i” in their product names is all part of Apple’s branding strategy. The designs of the products, the campaigns and product launches are all in sync with Apple’s style and its branding.

Just being Good Is Not Good enough

The Devil is not in the Details Greatness is

Understand the market place and Adapt

Lead the change that others will follow

§ There is no denying the importance of branding, especially for the small business. Consumers are always willing to buy products they know and trust.

§ A strong, well defined brand, gives you a competitive advantage in the market. It allows you to charge more for your product, knowing that consumers will remain loyal, and buy it at the higher cost. § That is the result of consistent reinforcing of the brand, which enables positive responses from the consumer.

Let your Brand Be your Flag

§ Branding is one way to attract new customers. When a customer comes to you because of all they have heard about your product and business, then you can be certain that they are serious about buying.

§ When you run marketing campaigns, you are simply throwing out a wide net to attract a large number of customers. From there your marketing guys spend time with those leads to find out who is really serious.

Its more than just a slogan, it becomes the soul of your company

§ Those leads might have been generated because of satisfied customers, who are happy to spread the word. Or, they might have been the result of persistent market reinforcement.

§ However the key is, they came about due to a branding strategy that effectively communicated the solution the customer was looking for.

Conclusion Branding is an effective way to facilitate the growth of your business. When successfully implemented, branding can give you a strategic position in the market, and eventually lead to increased profit.

§ This is achieved as a result of the influx of new customers, and the continuing support of existing ones. § Branding builds brand loyalty and value, attracts new customers, and makes you stand out from the competition. § These are all key components in ensuring the continued profitability of your business

Questions.