The latest thinking in the field of branding identifies five branding strategies that reign supreme in today's corporate world. Although each strategy can be successfully employed by companies offering very different products and services, they all seem to work best within fairly narrow parameters that pertain to the industry, product or service and market being served. Choosing the best strategy for your company, then, depends on matching the parameters of your product/service and market to the appropriate model. Keeping in mind that entire books have been written on the individual branding strategies, here's a quick snapshot of each one:
Success in this category requires owning and consistently expressing a set of abstract associations that customers relate to the product or service. However, the perceived benefits of buying and using the products (i.e., consistently low price, great selection) are very real to the customers. As the company consistently expresses the "brand DNA" through each and every transaction, it becomes firmly entrenched in the customer's mind as the only choice in this product category. Interestingly, mind-share branding works equally well at opposite ends of the product spectrum. Functional and low-involvement product categories (such as Tide, Southwest Airlines and WalMart) and complicated, high-involvement product categories (such as Dell computers) can both prosper under a mind-share brand strategy. At each end, however, the goal -- and primary benefit -- is to simplify the buying decision for the customer.
Cultural branding is probably the most influential way of all branding strategies that use cultural icons and "brand religion" to establish and thrive a brand’s myth with which individual consumers can passionately identify. The focus is mainly on the relationship between the product and the cultural icon and of course myth associated with the brand that leads the customer to buy the product. The most successful brand myths generally address the acute contradictions in society that touch people or customers on a personal level. Culturally branded companies run the gamut from home décor, fashion, and automobiles to food/beverages, entertainment/leisure and social movements. What kind of person responds to cultural branding? It's the budding playground hoopster who just knows that he will never reach the NBA unless he wears Nike Air Jordan. It's the thirsty consumer reaching for an ice-cold Coca Cola because "it's the real thing."
Want your customers to consider you a friend rather than just some faceless entity they buy from? Then aim for the emotional branding strategy. The point you will be making is to build the interpersonal connections with each and every individual interacting with the brand that will result in a relationship partner rather than just being a customer. Emotional brands have real personality. Emotional brands work best with services, retailers and specialty goods -- such as Disney and Starbucks -- where the company can tap into powerful emotions and create compelling experiences that evoke strong loyalty to the brand.
Media buzz deserves the vote of thanks, viral branding has sprinted to the top of the lists as the most popular brand strategy of choice. However, the fact that the media has embraced it does not mean that all companies should. As the name implies, viral branding works by spreading the word through "brand viruses" such as influential spokespeople, early adopter customers and other forms of grass-roots marketing. Accordingly, it achieves the best results with new fashions, new technologies and premium and super-premium brands that eschew mainstream markets. Viral branding appeals to people who see themselves as cool, hip and fashionable. It attracts those who get a charge from "discovering" a new brand and leading the vanguard of early brand advocates. Who stands out in the viral branding category? Google, Hotmail, Absolut Vodka and Vonage are names that immediately come to mind.
Singapore Airlines and Kellogg's Cornflakes in the same branding category? Hard to believe, but true. Sensory branding takes the focus off the product or service itself and puts it squarely on the sensory experience it creates for the consumer. Hence, this category includes a broad and diverse range of products and services, from fashion, cosmetics and high-end retail to automotive and travel/hospitality. Sensory branding goes beyond the ordinary to create a full connection with one's environment through the senses. We're talking full-on sensory engagement here! Not just with the over-stimulated senses of sight and sound, but also connecting with touch, taste, and smell. In various categories, the buying experience assists in carving the brand. The fact is that the brand doesn’t really start existing until the customers actually use the product or service offered by the brand. The end result is an experience so full, rich and satisfying that customers refuse to consider any other brand.
I hope this blog provides you sufficient information about branding trends businesses to follow in 2020. CorpZone Services is a leading digital marketing agency in Noida. We provide result-driven and comprehensive digital marketing services to our esteemed clients as per their need and budget. We can also help you increase brand awareness, enhance web visibility and drive traffic on all social platforms.
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