Branding is one of the elements of marketing. However, it is still unclear to many people what the term branding your business really means. For instance, a better understanding can be achieved when concepts are defined. This will be based on how they are related to each other. So, first, I will begin with positioning. This is a term you may also have heard in relation to branding your business.
‘Positioning’ is a type of marketing. It is being able to instill the image of a product or service in the minds of the prospects/clients. Positioning is achieved by comparing the product or service with an item or a concept the audience is already familiar with in their minds.
A good example of positioning and how it can promote branding your business is the case of Avis. Hertz Car Rental Company occupies the top spot in the market. Moreover, it is widely acknowledged that Hertz is #1 in the car rental business. Anyhow, to gain recognition in the business, Avis has to position their business alongside Hertz.
Although, they could not take the top spot in the market scene. Do you remember their campaign strategy? It was very clever; “Avis. We try harder.” By positioning their business as the second best in the market, Avis capitalized on capturing a larger portion of the market. Thereby, Hertz and Avis are close in sales.
In many ways, people have likened the idea of ‘branding your business’ to the positioning strategy. Anyway, they are different. Positioning is a fluid concept while branding your business is a more defined process. You can develop many ways to position your business in different markets while depicting different scenarios.
Branding your business is more ‘set in stone.’ It is a more prominent expression of features that should be consistent everywhere it is seen. Meaning, it it always has the same image whatever the scenario it is seen in.
This may be a more clear idea of what branding your business is. Someone sees a cup with red circles on the cup. They quickly think it is a cup from Target. Moreover, children see the red circles on a Target sign and say they want to go to the circle store. This is the meaning of branding your business. The target logo, red circles, is imprinted in the mind of people. They think of Target when they see the red circles.
However, Target as a brand is positioned differently. It is a discount retail chain business with a good style. Some people have referred to the brand as ‘Targé’ which signifies its positioning. It has projected a posh boutique to the public, but everyone knows that it has similar prices to Wal-Mart. This is good positioning.
Branding will lead you to include more appealing features to attract more customers. For example, a technology company should not be using old font styles in their advertising copy. The use of old font styles will make the audience to think they are not yet advanced.
So, you start the process of branding your business. Thus, you want to place your marketing ideas in a way that you create an appearance that can make your audience remember your brand. This look/idea should be consistent on every marketing material you advertise publicly.
What message do you want to communicate while branding your business? How do you want the recipients of your promotional offers to feel about your brand? Think of the image you want to have for your business. You want the public to have this consistent brand image of your business. It will remind them of the services you offer.
You can get more loyal customers when this happens. In marketing, branding has everything to do with recognition. Your branding elements such as color, font, and logo should be consistent. Achieving this will make you establish recognition with repetition.
There are higher chances that they will visit your shop or website to make purchases if your audience can remember what you are selling. Therefore, you need a proper branding strategy. Thus, your efforts and revenue spent on driving traffic to your business through other marketing methods will not be wasted.
That being said, it is also important to advertise the true features of your brand. In particular, you will need to do frequent advertising. If you plan to carry out a promotional campaign only once, then, branding your business will not be very effective. Branding is most suitable for marketers that have prepared a long-term marketing campaign characterized by the power of repetition. Hopefully, by reading this information, you now understand successfully branding your business.