What makes a brand? Or what makes a brand successful?
There are multiple reasons and interpretations like reach, reliability, visibility, etc. But finally, everything boils down to two gross subjects, i.e., Marketing and communication strategy. A decade ago, marketing, sales, and advertising strategy were considered one unit with subtle functional interlinks. Over the past ten years, as different brands have diversified their portfolios, new competition, liberalization by foreign countries, and other technological advancements, all these topics are examined separately.
Multi-National Companies employ a full-fledged MARCOM team whose sole purpose is to regulate the messages going to the market about the organization’s future move, policy, and strategy. But smaller companies might not have the resources for the same such as a good content marketing agency. Hence, the following ways are the most practiced ones.
Table of Contents
Branding the path
Becoming a commodity is easy, and risks are low. For more enormous volumes, margins will be lower, but the market will be overflowing with lots of other competitors in that segment. The product will have no identity, and such unbranded products will have a higher span starting from industries and consumables. These products may stand out on pricing, finish, or overall quality. But the main point of difference with a branded product would be the quality assurance imbibed with the product.
Take the example of a regular coffee shop versus Starbucks. Any person would prefer Starbucks. Old school people may say it’s a Gen-X style statement. But they may say that a brand defines who one is, who they want to become, and how they want others to perceive them. Several brands are now looking to opt for a solution from Branding Consultant in Malaysia who suggest the right path for brands towards success.
Logo
A logo is the first thing the consumers notice. When we hear the word apple, our brain draws up a red apple. Similarly, when we hear Audi, those four connected rings appear in our minds. Trademarks should be simple and easy to remember, and this is going to be the identity of the brand in the long run. Hence, hiring a professional developer for this cause instead of using stock images makes sense.
Positioning
It is a very general term used for all marketing discussions. Generally, there are three market segments:
- Entry-level,
- Regular
- Premium
This is a perception that places the product against its competition. When entering a new market, either the product creates a cult or, in several cases, is lost as a “me too” product. The market leaders were beginners someday. But they rose slowly and steadily by positioning products correctly and steadily grabbing market share.
Pricing
In many markets or user segments, pricing creates a difference. Consider a product listed on a portal as 120USD + 2USD shipping vis-à-vis the same product listed on another platform as 122USD and shipping free. Consumers tend to go for the second one. So, not only does the price level matter but what comes along with it.
Contents
The present-day trend is to blog about or post about your product on social media. Blogs should be short and smart. People nowadays do not have the privilege of time to go through a four-page article anymore. Best content creators rely on different types of content like blogs, articles, video contents, podcasts or short posts on social media that communicate briefly but profoundly with the target audience.
It attracts people in different ways. For example, if your readers are getting significant information about the industry of technology, it increases trust quotient. On the other hand, if your product articles are providing deep insights about your offering, this is telling more about your brand value.
Advertise
Still today, word of mouth carries a considerable value. One person’s influence can be impactful on the monthly or yearly balance sheet. The idea is to create a desire like an iPhone or a Tag Heuer watch. Many people are driven by this desire to take the first step, and others follow. Words are to be chosen diligently and smartly.
Corporate and Social Responsibility (CSR)
Organizations form a part of the socio-economic scene of a country. Contributions or presence at humanitarian or social events add to the brand visibility and add a feel-good factor to the brand. It’s a minimal cost to be borne, but it provides an excellent benefit to the company. Sponsorships pay off in the long run in volumes and revenue.
ROI
Nothing is possible without money. Investors need to be taken care of, and the consumer must be enticed to interact with the company itself to generate revenue. Departmental silos do not help generate cash, and reporting tools allow you to track each movement. As they say, people may forget you but never your presentations.
Conclusion
An integrated marketing and communication strategy helps position the brand correctly and understand your market. By employing marketing communications, an organization continuously interacts with the market. The numbers depend on the clarity of the message going into the market. It is like a person going for a job interview, and the better the conversation, the higher the chances.