What is business branding? 7 important factors of branding
Branding is the magic word that binds customers to businesses. Brands give people the edge of emotional, trustable and spontaneous relationships with businesses. Successful branding practices often yield successful business outcomes. Branding is just everywhere, we swim and sink through brands throughout our days. Standing out in the branding world is more important to win customers. Let’s analyze on some important branding factors.
Uniqueness stands out:
Everything associated with your brand has got to be distinctly unique, say, name, logo, caption, tagline, advertisements. In business world competition is formidably high as new businesses keep adding up at each dawn. So its highly essential to put in efforts to build uniqueness to a brand.Can you deny when I say, we connect well to the tagline ‘Emirates – Fly better’ as it evokes a sense of nostalgia, trust, warmth, emotion and what not. Emirates has inevitably achieved such unique position.
Know your audience :
Focusing on a specific set of audience rather than on varied ones is a fundamental trait in branding. Beauty products focusing on women audience, health supplements focusing on senior citizens are evident examples. This helps in widening the reach within the intended mob.
Catchy phrases as product taglines is the most effective and straight forward way to attract consumers. We are accustomed to many acclaimed and familiar taglines like Lays-No one can eat just one, Nike-Just do it, Nestle-Good food good life. Such registered slogans inevitably impact the buying patterns by making the consumers choosing those brands over other infamous ones.
Nothing beats the attribute of quality to a product. No matter how renowned a brand can get, if it fails to deliver quality products, it is likely to go knocked out shortly. Consistent quality is quintessential to make your brand withhold the market.
Consistency is the key:
First impression is the best impression. Yet, when it comes to branding, successive impressions hold the same weightage as the first impression. Once you have won potential customers by your quality, valuable products, you are setting up high expectations on the customer side. So holding up to those expectations forever by your best practices is all the more essential.
Impart innovation :
Everyone loves something new and different. As humans evolve, the products they use, their lifestyle go through huge changes as well. Brands should be up-to-date on the state of the art entities and deliver products and services accordingly. For instance, the evolution from 2G to 5G calls for updated, sophisticated devices that could house all the new technologies associated with 5G. Another simple example would be, in older decades there were not much products on dog food and accessories. Now that pet lovers, adopters are on a surge, more companies are on the forefront manufacturing pet food and accessories.
Who doesn’t love these three magic words? Discount, offer, sale!! This is one proven marketing strategy of all times. Offering discount increases customer traffic, imparts a connection to the brand and ultimately result in up selling.