A Brief Overview
A branding strategy is the model for how a business develops, shapes, and shares their brand. Do you ever wonder what makes some of the most influential companies such as Nike, Apple, Coke or Amazon so successful? Their entire branding strategies are superior to their competitors. They offer quality products and services, they have catchy taglines and powerful logos, as well as strong marketing research.
We at Imago would like to discuss in more detail what exactly branding is and its benefits for a business.
What Exactly is Branding?
Every company, and their brand, has a different style. A successful brand does not have to cost millions of dollars; however, it does call for a lot of research and creativity. According to studies, nearly 90 percent of shoppers are committed to brands with which they share similar values. Following are the factors that you must consider in order to create a strong brand:
● Social media presence
● Brand design (font, colors, themes, packaging, etc.)
● Product pricing and quality
● Company culture
● Customer service
● Slogans and taglines
Other factors such as awareness, philosophy, tone, message, and overall personality of the business also play an essential role in the creation of a good brand. In today’s modern age, people are stormed with thousands of messages throughout the day via different social media platforms. In order to stay one step ahead of the competition, not only should you have excellent products and services, but you must also have a strong brand. A good brand can take your business to a whole other level.
Benefits of Branding and Brand Strategy
1. Branding Gives your Company an Identity
One of the top benefits of branding is that it gives your company an identity beyond the actual products and services you offer. The brand becomes more than just the company name, particularly if you come up with a brand marketing strategy separate from your products.
2. Customer Recognition
When a customer recognizes a brand’s theme, logo, or color, they tend to choose that product over another brand. The customer is already acquainted and comfortable with your brand and what it stands for.
A strong brand sets the foundation for a business. Once your business finds its branding, company philosophy, colors, etc., all other elements can be then easily strategized around the brand. Any future marketing efforts will be based on this brand foundation. Developing consistency within a brand helps customers to relate to the company even more. On the contrary, if a company changes its logo every few months, this will create a sense of confusion among the customers and they may not want to purchase products or services from an inconsistent brand.
4. Stay One Step Ahead of Your Competition
Whether or not you are familiar with all your competition on a regional or global basis, branding will help you to always stay one step ahead of your competitors and gain an edge in the competitive market. The unique identity of your brand will keep you different from your competitors, particularly in industries where it is extremely difficult to stand out if you offer similar products and services. Be sure to stand out from the crowd!
5. Credibility and Trust
Strong branding creates trust and comfort among customers. Build credibility with your customers as you prove your quality product, and excellent service, both aligned with what your brand stands for. This credibility will strongly influence your customers purchasing decisions in favor of your brand.
To Sum It Up!
If you are looking to take your company to the next level, start to examine and implement an excellent branding strategy to grow your business. If you wish to learn more about how to create a branding strategy, Imago Montreal can provide a comprehensive overview in creating a strong, recognizable brand. We hold our pride in being the best branding and marketing agency in Montreal and we are committed to building strong brands through strong relationships. Get in touch with us today to schedule an appointment and our team will help you reach your business goals.