One of the basic requirements of new businesses and large corporations is to create a branding strategy that can help build the brand’s identity. If you’re an aspiring entrepreneur, the first thing you have to think about is your branding. Why? Because branding will be your promise to your customers and how your business will be known to the market. It is how potential customers will recognise and identify your business and how it differs from your competitors. Branding can also help in earning your audience’s loyalty, trust, recognition and awareness.
Building your business branding is no walk in the park. So, we will help you learn about the different types of branding strategies you can use for your business. Keep reading as we dig a little deeper about branding strategies so you can develop a solid and compelling business plan. Let’s get started!
Branding Strategy #1: Personal Branding
Personal branding works for an individual rather than for a whole company. It is about the person’s personality, character or work as a brand. Often, we see personal branding with celebrities, politicians, thought leaders and athletes to present the best version of themselves to the public. Personal branding can help your company by seeking help from a personality with a significant influence on your audience. This way, people will be more likely to listen to your company’s campaigns because of the presence of an influencer.
Branding Strategy #2: Product Branding
Product branding focuses more on the product’s packaging itself. It is one of the most common and popular branding types for companies that offer a specific product. It’s about making the product distinct and recognisable among the pool of other products in the market. Symbols and designs are an essential part of product branding so that your customers can identify your product quickly.
Branding Strategy #3: Corporate Branding
Corporate branding talks about your company’s core values and philosophy to present yourself to the world and your employees. This type of branding is where you display your company’s mission, personality and core values. Corporate branding is essential in forming your consumer’s perception and emotional attachment to your brand. Your goal is to let your consumers see your products and make them feel that you care and support their endeavours.
Branding Strategy #4: Online Branding
Online branding is applied to the digital landscape and environment. Since today is all about online, you need to leverage your branding strategy to position your brand in the online marketplace. You can do this by having a functional company website, being on social media platforms, writing blogs and producing other online content.
Branding Strategy #5: Co-Branding
As the name suggests, co-branding is about connecting with other companies to promote your brand together. It is a partnership between two or more businesses with a common goal to impact each other positively. Co-branding can bring opportunities like growing business, spreading brand awareness and breaking into new markets.
Knowing these different types of branding strategies can significantly add value to your company. You can now effectively position yourself in the market depending on your target audience, industry, budget and marketing campaigns with enough knowledge and plan. With the right branding strategy, your business can stay afloat, continue to thrive and hopefully turn your small business into a big one.
If you currently have a business or are about to start a new business, let New Business Centre help you with your business branding. We ensure that you have what you need to build your brand from the ground up and drive explosive success to your new business in the process. Get in touch with us and work with our best team today!
With over 30 years experience and having worked with well over 200 Companies, Start up to Exit Strategy, across multiple industries, Kaye has expertise across all things day to day in business which is laid out here in our new business kit giving brilliant insights, shortcuts, and ‘Golden Nuggets’ of information from that experience most new business owners would simply have no clue about.