It is dizzying how many products our eyes see on a daily basis. Therefore, when it comes to branding, your established business or brightening start-up may encounter an uphill battle when devising a fresh angle for sizing up your competition. It seems like everything has been attempted and simply hoping that your product or service can sustain the brand, in many cases, is all a company can rely on. Yet, there could be some newer branding approaches, or even the ability to build on old ones, that you might not have considered. Take a look at some of these ‘think-outside-the-box’ thoughts and ideas to see if one or more may fit your needs, taste, style and/or voice.
Not What You Think
Your brand is not your logo, service or product and it definitely is not your website. It is a state-of-mind that taps into an emotion and emotions fuel consumerism. Making someone feel a certain way when they see your brand marks a home run. Starbucks is one example; people associate the brand with a warm, inviting atmosphere that offers a quality product regardless of price. Apple is another; when most hear or see this word they equate it with a higher standard of technology that is safe, reliable and cutting-edge. Work on how your brand can make people feel. Hire a focus group company to field test its effects or conduct your own impromptu research. Tally opinions of various choices when it comes to logo, marketing copy and anything else that describes what you do and go from there.
You cannot skimp on social media marketing. Turn on almost any television program and you will see a list of social media logos at the bottom of the credits. This should follow your brand, as well. Know your demographic and find out where they are communicating online. Then, target them accordingly with:
A constantly updated daily or weekly blog.
Monthly digital newsletters.
Built-in monetary incentives such as discounts, freebies, etc.
One Egg, One Basket
Many brands lump together their products or services under the same key name. For instance, you may have Ace Pens, Ace Paper, Ace Notepads and so on. However, if one of these brands struggles with sales, then chances are that the others will, as well, because of their association with the same brand name and that loss in consumer trust. Mix up your brand titles such as Ace Pens, Incredible Paper and Superior Notepads, and avoid being judged unfairly all the way to failure.
Creating levels of brands is just as important as diversifying brands. If your brand has a good reputation you may want to create a high-end alternative, in the same manner that Honda also represents Acura. This will open up class branding and give your consumers the choice between a great product and a really great product.
The opportunity to track your brand is easier than ever. Many companies offer algorithm formula tracking software that allows you to know if the brand you are working so hard to build is even working. If the response numbers are low, then reworking your game plan until one works is essential.
Your brand strategy can be a fresh angle for sizing up the competition by using one or more of the above tips. Always stay on top of your business’s progress, as well as its regress, and constantly contemplate on ways to keep it fresh and at the forefront of your industry.