You know that brand that is so well known to the point of becoming synonymous with an entire category of products? This is the dream of every company, and one of the reasons why this fact is possible is because of the well-structured “Branding” strategy.
While we associate marketing with being a method of attracting people and increasing sales directly, it’s important to remember that there are more subtle and effective ways to do this, and Branding is the perfect example of this.
Companies of similar competence can have very different results simply because one invests in brand management and the other does not.
Do you want to know more about Branding, and see how it can help you achieve bigger goals, especially if combined with a Digital Marketing strategy ? So let’s go!
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What is Branding, after all?
Every company has a brand, that is, a set of values that are observed by potential customers and partners. Elements such as the name of the business, visual identity (logo, color scheme, etc.) and the reputation of the company itself are part of this brand.
In other words, every effort made to make your brand more known and respected is part of the Branding work.
Branding results are not immediate, which leads many to reduce its importance and focus only on immediate goals, creating strategies that increase sales at the moment.
But what these entrepreneurs don’t realize is how long a well-crafted branding strategy can pay off. Think, for example, of the well-known brands we mentioned at the beginning: how many years ago did the marketing actions that made them famous happen?
Why is Branding important for your company’s future?
While many still insist on believing that the brand makes no difference, the reality of the market says otherwise. There are several reasons why Branding should be among your company’s priorities.
You can even go further and say that a Branding strategy can define the future of your company. Doubt? So here are some reasons to look at it this way:
Purchase choices are not entirely rational
We like to think that we make decisions rationally, that our instincts and impulses have no place when it’s time to deal with money, but it’s not always that simple.
There are a number of factors that affect us unconsciously at the time of purchase. Mental triggers are proof of that. A good sentence, placed in the right place at the right time, can make a big difference in sales.
Another example of how our decisions are easily affected by external factors is experiential marketing. Brands like Abercrombie & Fitch prepare their stores to affect multiple senses and spur an increase in impulse purchases.
Branding is no different. Strong and recognized brands will always have an advantage over others of lesser expression, even if the products are similar in quality.
Branding increases the perception of value
How many times have you paid more for a well-known brand product to make sure you didn’t get something of inferior quality? This is very common in the most diverse sectors, and it illustrates well how the perception of value changes according to brand recognition.
Take, for example, Apple products. In many cases, its technical specifications are lower than those of its main competitors, its price is much higher and there are certain limitations of compatibility with devices from other brands.
However, the company has been one of the most valuable in the world for several years, and leads not only in sales, but in the development of new products, followed by the rest of the market.
The lesson is clear: when the brand is strong, people are willing to pay more for products and services, as they begin to see greater value in them.
Brand strength sustains itself over time
One of the factors that should excite you about Branding is its longevity. A well-planned and executed strategy can have an effect for a long time, and bring good results directly or indirectly.
Some of them include:
- increase in direct sales;
- reduction of acquisition cost ;
- increased customer retention;
- ability to attract and retain talent for the company;
- between others.
Also think about how a company with a solid brand manages to get out of a crisis situation in the sector. It is much more favorable to strategically position yourself to launch new products, bet on different markets or get credit to expand.
Your ideal audience espouses the same brand values
The audience that your company seeks to conquer shares the same values that the brand defends. Do you know what this is? A common point, perfect element to establish a relationship of trust and convince people to act.
The more points in common with your persona , the greater the chances of having a successful digital marketing strategy, with relevant content for all stages of the funnel, good qualification and conversion rates.
The main focus of Branding is to achieve consistency of results, allowing the company to reach a predictable revenue state. But that doesn’t stop him from favoring sales in the short and medium term by improving the quality of the strategies, as a whole.
How to effectively manage Branding? See 6 practical tips
A good Branding strategy has the potential to transform your business forever, but that will never happen if the actions are not carried out the right way.
With that in mind, here are 6 practical tips that will help you to make an impeccable brand management, and radically change the vision that customers, partners and competitors have of your business:
1. Understand what the company values are
Brand values represent the message that must be conveyed to the public in every action, big or small, and also how the brand wants to be seen.
If those involved in the Branding strategy do not have these values clearly defined, all communication will be inconsistent and artificial, which generates distrust.
On the other hand, when everyone understands what the brand’s “personality” is and how to show it in a practical way, the values will be transmitted naturally, and your persona will identify with them quickly.
2. Don’t abandon the brand’s DNA
No matter which channel is used, Branding actions must always maintain a standard that will be easily recognized by the public. This is the brand’s DNA.
Think of a person who at any given moment has different ideas on the same subject, speaks with different accents, and has mood swings. She will hardly generate trust in those around her.
Likewise, if in each Branding action the company adopts a different attitude, whether in the way of communicating, in the proposal or in the values that will be defended, no one will identify the real proposal of the brand.
3. Don’t just think about the “now”
Don’t base all your Branding actions just thinking about the results they will have in the short term. It is not how it works.
Of course, some initiatives will prove to be relevant in a short time, but others require a little more patience. Thinking ahead is what will contribute to the most impactful actions.
If you don’t believe it, you can think of some of the most valuable brands on the planet, like Nike, Apple and Coca-Cola.
His top Branding actions didn’t have immediate results as their primary goal, but generated billions in profits for years after they were done.
4. Appreciate the construction of corporate culture
What does building a strong culture that relates to the brand’s values have to do with the way the public sees it? In a word, EVERYTHING!
But let’s explain in more detail: employees are in charge of conveying a brand’s message. How will they do this effectively if they don’t believe the message itself?
If the company doesn’t have an internal culture that matches its message, it may even be able to fake it for a while, but at the first sign of crisis, everyone will know that the real situation is different.
5. Track customer perception of the brand
What do customers already think of your company, and how does that approach (or distance) the image you want to create for it? The only way to know this is by following what they say, whether on social media or in direct interviews.
The answers will be useful to make adjustments and create new Branding initiatives that cover the identified deficiencies.
No matter how good your planning is, there will always be some detail that only customers will be able to point out. So, never turn your back on this rich source of feedback.
6. Invest in content production
Content marketing has already proven itself to be one of the main Branding tools out there. Few things have as great power to engage and motivate people as a well-told story.
So, producing relevant and interesting content for your audience, without worrying too much about selling, will make all the difference to position your brand as an authority in your niche market and establish the necessary trust for the right time to offer a product.
Working on managing your brand may not seem like such an important thing now, even more so if everything is going well. But believe me, putting Branding aside can cost a lot of time and money, especially in the long run. On the other hand, if you follow the tips you saw here, you will reap excellent results for a long time.