What’s in a brand name? Such a question seems odd for laymen but not for those working in brand marketing. The field highlights the importance of brand selection. Similar to naming a person, picking up a brand name is not always easy. The brand speaks volumes about the value, identity and vision of a company.
Therefore, a company's brand needs to apply a brand marketing strategy once it picks up the best name. This is because the brand name has a certain unique selling point that will set it apart from its rivals. If you are interested in the field of study, keep reading until the last paragraph!
What is brand marketing?
Brand marketing is the method for promoting a firm’s brand to the public. The strategy doesn’t only introduce the brand name but also the positive traits and value of the brand to the public. It plays an equally important role in the marketing of its products or services, especially for long-term projection.
The strategy is essential for making your brand stand out amidst a sea of competitors in the same business line. Plus, it isn’t just the letters that make up its name but also the logo, the colour and the font. When consistently promoted, the public will quickly recognise your company brand and thus become loyal customers.
Branding is quite a big topic in the study of Economics and related fields. It reflects consumer trust in a company. If its brand marketing runs effectively, the business can run for decades, even during the economic crisis. Its customers become the assets that will guarantee the company’s success.
Commercial impacts of successful brand marketing
Effective brand marketing aims at winning the trust of the target audience. Once achieved, the firm will find it easier to reap benefits on the commercial side. This will definitely escalate the company's growth and increase profits. To arrive at the goals, they need to conceptualise long-term marketing campaigns.
The tactics may take years to take into effect as expected, depending on your business size. Below are the brief impacts of brand marketing that mostly accelerate marketing and promotion campaigns. The list should apply to all business types you are currently working at because it seems general in the commerce world.
- Bigger pricing power: Through strong branding, the company won’t be afraid of losing many customers when raising the price, thanks to its solid customer basis. People don’t mind buying more expensive products as long as they believe in the producers. Apple is a clear example of this. People keep purchasing its products, although the prices are up almost every year.
- Easier new product introduction: The next benefit of brand marketing is making it easier for the company to introduce new products. If the business is already popular, then it doesn’t have to set aside a big budget for marketing and sales campaigns. People will be likely to buy the new products because they believe in the top quality of the maker.
- Mouth-to-mouth advertisement: Manual advertisement is the most effective way to market your brand. If your existing customers trust your brand enough, they will automatically mention you to their friends or family members. You don’t even have to set big budgets for promotion campaigns. Let your loyal customers do the job for you!
A step-by-step guide to creating a brand marketing strategy
Choosing a brand name should happen alongside your formulation of the brand marketing. In other words, you need to think about how you will introduce the brand while working on the name. This is recommended to save a lot of time rather than differentiate the timelines of the two jobs.
Conducting the strategy is a bit different to marketing products or sales. The brand is about the personality of your business, so it stands as an abstract concept. But once you succeed at this, you will be surprised when the public keeps on your company's side, even if the rivals offer cheaper products or services.
1. Understanding the audiences
At the core of it all, branding means to sell certain products or services. The end goal is to obtain as many customers as possible, hence, becoming your repeat clients. Therefore, you have to know whom you are selling to. This aspect includes type of gender, average age, education, and monthly income.
When all of the information is complete, you should find it easier to craft an effective message for your campaign. Your brand marketing should use language that aligns with the targeted audiences. For instance, if they are teenagers, use simple or trendy language to grab their attention faster. Catchy words will be much better.
2. Creating the identity
The second step should start by formulating simple statements that can lead to your brand identity. Find what services or products will meet the expectations of the potential buyers. The next move is knowing unique selling points that will set your firm apart from its rivals. Peculiar traits of your products can enhance the identity as well.
3. Launching digital marketing campaigns
Thanks to the Internet, brand marketing efforts shouldn’t require big budgets and large physical spaces anymore. You can create special digital marketing strategies that especially address the brand through social media platforms, such as Instagram, YouTube, Facebook, X, and TikTok. You should apply an omnichannel marketing strategy for maximum results.
Omnichannel marketing means using all social media and store channels to spread the company messages that directly target the customers. To accelerate the brand introduction, you can choose campaign ads that require an extra budget. However, this will remain more affordable than putting up physical, giant banners on the streets.
4. Applying diverse content messages
Brand marketing takes a long time to bear fruit. As a brand strategist, you need to formulate diverse messages that span across certain time periods. For example, your company is an upscale clothing line that targets women over 30. Its values are elegance and beauty that transcends the time.
At first, you may introduce the clothing brand by emphasising black and grey colours that are closely tied to elegance. Next, after the message is completed, move to the second message, which is beauty. In this regard, you can create content that focuses on embroidery as the essential design element to add to the beauty of the clothes.
5. Evaluating the strategy
Ideally, one message, as explained above, should last for one to two months. After the period, analyse the strategy and determine whether it produces the expected results or not. In social media, there are metrics that you can use, such as the number of engagement and conversation on the social media platforms.
Brand marketing tactic works successfully when it produces a buzz among the public. This means your brand starts getting the attention. If the numbers are low, you will have to formulate another method that should keep up with the dynamics of social media trends. This aspect keeps changing, so keep yourself updated.
6. Keeping the loyal customers close enough
Always remember that applying the strategy means like running a marathon. Keep your long-term goal in mind so that you won’t lose hope when the metrics are not as expected at first. In spite of the low number, you already have new loyal potential. They are the assets that you shouldn’t lose just because you focus too much on new ones.
Get ahead in brand marketing today
Everyone knows how critical brand marketing is nowadays because of the tight market competition. As such, the College of Contract Management has designed two big courses that you can take on brand marketing. Courses on Digital Marketing and SEO, as well as Business Marketing, can enhance your understanding of the topic.
It doesn’t stop there! The professors will guide you in putting all your knowledge into practice. Your analysis will get sharper, and then you can create a distinctive strategy to get your brand ahead of the competitors. You can directly consult the college's experts to create a branding campaign. Get the hearts of the customers now!
