Branding is a lengthy and extensive process of creating a unique market identity for a business which would then give the company a unique privilege to carry out behavioural marketing through using storylines, emotions and recent trends to create a direct connection with the customer base. The advantage that the business enjoys is that once a brand is designed for the company, it becomes easier for the customer base and future potential target customers to connect with the brand and draw relevance from it. Moreover, customers are fully aware of the product portfolio of famous brands and follow up on the various marketing campaigns that the business initiates. The overall fact of the matter is that building a brand for business develops consumer inclusion into the business. It builds a strong relationship with the broader consumer market, thereby increasing the overall experience of the consumer during purchase scenarios and non-purchase scenarios as well. Brand building especially helps when companies expand to foreign markets and set up business in global locations.
Impacts of Branding
When businesses turn into a brand, not only do they impact the competition in the market, but they create a long-lasting image in the mind of the customers. Therefore, the impacts of branding on business are –
- Branding provides an advantage over competitors due to a standout image.
- Branding allows companies to alter pricing policies based on the premium appeal of the brand.
- Branding helps create an emotional relationship with consumers which leads to impulse buying and repeat purchases.
- Branding dramatically influences the marketing efforts of businesses.
- Branding gives a proper vision to define the course of action for future marketing campaigns.
- Branding helps companies to connect with consumers with psychological emotions in which case; companies utilize this psychological advantage for the sake of running their future campaigns like fundraisers, corporate social responsibility campaigns, and so on.
- Businesses which have a well-built brand name find it easier to gain the trust of customers, thereby, being capable of customer retention as well as new customer acquisition.
How to Create a Brand?
The following steps could prove tentatively useful towards new business owners and existing business owners as well. The following steps could prove feasible based on a pure marketing perspective on a long-term basis -
1. Create a Long-term Campaign with Relevant Taglines
A productive well-executed marketing campaign could be the game-changer for the business in the industry it operates in. Consumers often flock to attractive and inclusive marketing campaigns which not only create a preference for the product but also give the right brand image to the business. The best possible way to ensure that the public remembers the campaign during commencement and after the climax phase is by attaching relevant and catchy taglines to the campaign. Slogans and jingles create a resonating effect in the psychological sub-conscience of consumers allowing instant brand recall when the advertisement is played. Also, when the consumer spots the product in a print media advertisement or when the purchase intention is being developed at a shopping outlet. A brand poses as an assurance of quality, ensuring the consumers to make the purchase.
The campaign concerning the marketing and branding of the Dubai Expo 2020 is an excellent example of long-term campaigns executed efficiently.
2. Utilize Omnichannel Platforms for Branding
Marketing can be done from various channels at different times. Still, when a business plans to create a long-lasting brand image, then it is mostly advisable to bombard the consumers with all available avenues of outreach. Omnichannel branding is broadcasting or publishing similar advertisements and taglines of the business on various channels of advertising at a particular time. The intention behind this is to reach a broad audience and to create a buzz around the company and its target customers. The various omnichannel platforms are –
- Television Advertisements
- Print media posters
- Newspaper advertisements
- Billboard branding
- Social media marketing via Facebook, LinkedIn, Instagram and Snapchat
- Digital marketing through Search Engine Optimization and Paid ads
- Digital media marketing via YouTube advertisements
- Product placement in movies, TV shows and digital media content
- Pop-up advertisements in mobile applications
- Inventory purchased advertisements in websites
- E-mail marketing
- Rural Marketing
- Social Cause marketing
- Graffiti art marketing in permissible locations
3. Create a Legacy through a Storyline for the Brand
When planning a long-term brand building plan, an ambitious business must bear in mind that it is essential to create a legacy for the brand using a storyline to depict the journey of the brand and its growth in the market. Brands which have a lasting legacy appeal to customers more than competitors and thus, find it easier to gain the trust of new customers. Businesses which have surpassed the ten-year benchmark in their corporate lifecycle and had followed brand building from their early stages enjoy the right brand name in their later phases.
4. Consult Professionals for Assistance
It is always suggestible to approach specialized consultants for creating a structured operational plan for brand building. Moreover, consultants also help in reviewing the feasibility of the marketing campaign. We at Commitbiz are professionals in the field of business setup in the UAE and various other popular locations. We also provide consultancy on how to grow and manage your business which also includes advisory and management of marketing campaigns. Contact us to know more.