What does branding do for the brand?
The brand image can make or break a business. Studies show that brands that have an emotional connection with consumers have a 306% higher lifetime value. For instance, Dior’s Sauvage which continued to work with Johnny Depp during these controversial three years is experiencing high sales among fans of the star.
Further, 90% of customers expect a similar brand experience in omnichannel. This means that through all the customer-facing platforms – website, mobile app, brick-and-mortar store, marketing collaterals, social media, and phone, the company must offer the same brand experience. Brand experience includes –
- Brand logo
- Brand color schemes
- Brand messaging
- Brand products
- Brand marketing channels
Brand awareness is the most important goal in marketing, and this can be achieved through brand placement in the apt channels.
Determining a brand strategy framework
Creating brand awareness is the goal of building brand strategies. An intricately designed brand strategy framework will make it easy over the long term to have clarity in adhering to the initial goals and value propositions one was committed to. It makes it easier to succeed in executing evolving strategies over the long term while staying true to one’s original goals. The brand strategy framework will help in determining if the company’s values can be applied to the marketplace.
A brand development strategy will be built around three factors –
- What the brand stands for
- The value propositions the brand offers customers
- The brand image one wants to convey through various marketing strategies
Building a brand image
The brand is an intangible factor that plays a huge role in the product and business success. Its impact cannot be quantified but one will know how its brand is perceived by its success and failure, and the market it appeals to. Facebook felt a major pushback when it was revealed that its user data was being breached. The company is yet to recover from the impact and even though they are acquiring successful social media platforms such as Instagram and WhatsApp and rebranding themselves, their flagship product is still surviving on existing users with fewer new sign-ups.
Intuitive brand marketing through tech platforms
Of course, the problem with Facebook is the same problem that BlackBerry and Nokia faced; their product has become dated. Consumer needs are evolving. With so much variety and information, the customer attention span is shorter. Hence, a brand needs to develop an intuition about the pulse of the market and what the customer is seeking.
Also, a brand must try to reach its customers and create visibility for themselves in which they are present. Online platforms have given birth to many businesses offering similar products and copycat experiences. Every niche has competition and to make one’s brand stand out; it is important to keep evolving and offering something new. When the Apple AirPods dropped in the market, it opened doors for a range of Bluetooth earbuds, and many small companies pack more features in the similar-looking device and sell it in the market.
Yet, Apple still commands the price it does and the value it has because of the brand image it has built and it adheres to the image it has created. A Nielsen study mentions that brand names can “lend credibility to product efficacy and provide an assurance of quality, letting consumers know what they can expect.”
We are Fonso works closely with brands to help them leverage their unique value proposition in brand strategy designs. With our tailored services, we enable businesses to grow in their niche by staying one step ahead of their market competitors. We achieve this through brand placement and promotion through channels that will garner their high visibility. Get in touch with us to develop your brand strategy and grow in your niche.
