What is a branding strategy? The process involved in creating a unique name and image for a product in the consumers’ mind, mainly through advertising campaigns.
Brand = Trust
What is the meaning of Brand Identity?
A brand name adds a unique value proposition to a company offering differentiated products across a wide spectrum. It is an important component of a firm’s corporate identity. The logo that represents a brand is just not a symbol but is a source of commitment to the customers. It implies the benefits or added values that the company offers to satisfy its customers. Logos are a way to reach your customers in the initial stages when your company is in the offing. After a certain period of time, it becomes an icon that represents your company’s efficacy and achievement in terms of quality, price, customer service etc.
Nowadays there is a pressing need for corporate firms to target both domestic and international markets. They have to create and establish local as well as global brand identity. A brand name tells the customer what to expect and it personifies your organization.
Why in the first place a company needs a brand identity?
See, it proves to be the most vital part of your marketing plan. How do you expect to reach your customers and convince them that you are there in the market to offer a superior product range than that of your rivals? You have to keep in constant touch with your customers and this is where a brand name comes in as a source of strength, as a promotional tool to speak for your product’s credibility and quality.
You have to ask yourself the following questions while planning to develop a branding strategy:
Your brand’s reputation online is more important than ever. The 2014 Edelman Trust Barometer revealed that 65 percent of online users rely on web search to find information on people and companies. One of the tools that helps businesses with this purpose is social media. Scratch that; it’s currently THE tool for businesses.
The brand strategy gives momentum to your business and aligns the activities of your organization towards successfully accomplishing the corporate objectives. It should be always remembered that branding is the only way to develop loyal customers.