In a society where organizations are becoming more and more alike, where the offer of products and services overflows the consumer and makes his choice difficult, and where the purchase decision is influenced more by emotional factors than by rational ones, branding is the essential integrating tool for all the analytical, strategic, production, marketing, innovation and communication efforts made by organizations to be truly effective.
The importance of a good branding strategy
Have you ever wondered why there are customers who are loyal to certain brands even though the market offers them similar products at more affordable prices? The answer lies in branding.
Branding is the way to sell products or services in a globalized context. Greater access to information has created consumers who not only value the tangible aspects of products or services, but also the intangible aspects, linked to the corporate image conveyed by organizations. While marketing seeks to increase sales through better control of the market, branding reinforces the concept of brand to attract customers. Branding, in short, is the work of brand management with the aim of making it known, desired and with a positive image in the mind and heart of consumers.
When building a branding strategy, you must take into account that it goes beyond simply naming a company; you have to define the spirit it will have so that all the products of the brand convey a single message. The corporate brand gathers all the values behind it, everything that inspires the creation of its products or services, which makes it stand out among other companies that offer the same. When you establish your brand identity, you know who you are and how you can help your customers; therefore, you transmit reliability and great potential.
Branding is the impression that arises in the minds of customers when they hear a brand name; in fact, the world’s best positioned brands constantly design and redesign their branding strategies with a single goal: to establish long-term emotional ties with customers, which lead to the loyalty of the target audience.
The purpose of branding is to extend a brand in the market, position it as a reference and place it in the minds of consumers directly and indirectly, so that they are not only willing to pay for their products, but come to love them and incorporate them into their identity.
If your branding project starts from scratch, you must first create the verbal identity of the brand, that is, the name; later, you must conceptualize the attributes of value that the brand will transmit and have clear who your ideal customer is. Defining your personal objectives and those of your business will help you make decisions about your brand and its positioning in the market.
Remember that the image of a brand is almost as important as the brand itself, and a good branding strategy will help you take care of it as much as possible. Branding strategies should be worked in tune with marketing strategies, because marketing puts the product on the map for the consumer to identify it, and branding works for the advertising strategy and helps to make the brand more attractive to the consumer.
As you may have noticed, creating and maintaining a good brand strategy is an extremely important step for companies looking to become market leaders. But the brand must convey more than what you sell: it must convey your values, what gave birth to your business, what you want to do for your customers and what makes you different from other companies.
Now that you know, implement your branding strategy and start growing in the market.
