Product Development 101: What You Need to Know About Branding
Branding is such a flexible term. A business brand is so much more than simply designing a logo or whatever it is that you are trying to identify.
Branding is what your company is, what it stands for, and what your business instills and evokes in its consumers and investors. The following article will be exploring the different types of branding for a business that you can integrate into your company in order to create a wonderfully effective advertising campaign and overall idea.
Did you know there are 500,000 new businesses created every month? Each one utilizes branding in some way to be successful.
There are many types of branding that you can use to increase your profits. Whether you're an individual starting your own business from scratch or the CEO of a Fortune 500 company, you can benefit from product development.
Branding needs to be specific to your brand, it's not a one size fits all. We are going to tell you everything you need to know about the different types of branding and how they will benefit your company.
Brand vs. Branding
You might think branding is the same thing as your brand but it's not. Your brand is how people see your company, products, and services.
Branding is the steps you take to create your company's personality. You can use branding techniques to encourage the public to see your company come in a new way. Different people will view your company differently based on their own experiences and values.
You can utilize different branding strategies at the same time to appeal to different clientele and grow faster. Depending on the number of resources you have, you may want to focus on one branding technique at a time.
You don't want to spread yourself too thin and have multiple mediocre branding campaigns instead of one or two great ones. If you're wondering why branding is important, you've come to the right place.
Online vs. Offline
Online and offline are very broad terms when it comes to branding. Offline branding refers to any advertising that you do that isn't on the internet.
Business cards, networking in-person events, and even t-shirts are all considered offline branding. On the flip side, online branding includes your social media, website, and blog. All ads will also be part of your online brand.
Online branding is becoming more and more critical, and the majority of people get their information online. You can use this to your advantage. However, it's important that you don't neglect offline branding.
People still appreciate face-to-face contact. Building a connection with people offline is a great way to gain people's trust. Anyone can have an online presence but that doesn't mean they are reliable.
Word of mouth should not be ignored. While a bad review could affect your business if someone has a bad experience with your company they will likely tell their friends and family.
Utilizing both of these options will be beneficial for promoting your brand. They will allow you to reach a larger audience.
Corporate branding is critical, and it includes internal and external procedures. While this includes your design choices, pricing, and values it also includes how you communicate information.
Corporate branding will create your leasing reputation as a company. Think of branding as creating the company's personality. You want people to be drawn to your company.
How you and your company represent yourself inside and outside the office is a part of corporate branding. While you're at charity and sporting events and other functions you must represent the company's values.
This can also expand to how the company treats its employees. It starts with the recruiting process. This type of branding will have long-term effects, whether it's good or bad.
Attitude branding appeals to your consumers' emotions. It encourages them to feel something, whether it be motivation, happiness, sadness, or excitement.
An example is Planet Fitness. Their slogan is "Judgement Free Zone" they want you to feel comfortable and safe when you come to their facility.
You don't have to have a motto to incorporate this branding. There are a few ways you can do this.
First, you don't want to focus solely on one product. Encourage people to look at the whole company and its mission. By doing this you'll be able to create lifelong customers who will support you and all your products instead of just one specific product that you sell.
You should also focus on your customers' priorities if you want to appeal to their emotions. You'll be able to build a better branding campaign if you know the types of lifestyle they live and what's important to them.
Product branding is everything you look for. You will use protect branding to encourage your consumers to buy products over someone else's. You'll utilize different colors, shapes, logos, and packing development to achieve this goal.
You want your design to attract your consumer. If you're marketing to young children, you're going to use different colors to get their attention than you would if you were marketing to a middle-aged man. The same holds true for all aspects of the design.
Through product branding, you'll tell people what your product is and whom you intend to use it. A few companies have used product branding so well that people call specific items by their company name.
Band-Aid is a great example. People often use the brand name "Band-Aid' to describe bandages.
Another example is Chapstick. We use the word chapstick to describe all brands of lip balm even if it's not the brand Chapstick.
A few more brands include Kleenex, Crock Pot, and Q-Tips. The product development from these companies was better than any other brand which allowed them to reach the ultimate goal of product branding.
Branding a product is somewhat easier than branding a service. However, it's important that you invest in brand development as a company that offers services.
Your company's profit and growth are based on how happy and satisfied your customers are. Providing constant service can be challenging, but it can give you an advantage against your competitors.
When you think of customer service, you may think about automated recordings and long wait times. If you can change that stereotype for your clients, you'll excel at service branding.
Offering great service doesn't always mean phone calls. You can provide your customers with an option to submit their request or issue online.
It's important that you provide excellent service constantly, whether you're a hairdresser or a large airline. Service branding also goes hand in hand with personal branding, which we will talk about next.
It may seem unnatural to promote yourself because you aren't a company or a brand; you are a person. However, personal branding is very useful, especially if you offer a service.
If you're a personal trainer, you need to promote yourself to your potential clients. Research what people expect out of a personal trainer. They probably will want someone who is knowledgeable and kind, someone who won't judge.
Use that to your advantage and show your clients that you pride yourself and your brand on those things.
Many politicians, celebrities, and influencers use personal branding to make money. You need to create a public image that appeals to people.
You can still utilize personal branding if you're a larger company. It can be beneficial to put a face to the name, so to speak. Through personal branding, you can establish a trustworthy reputation. You'll be able to establish a "bond" with your customers.
For example, if your company sells baby products, you may want to show your consumers that you're a parent too. You can relate to their struggles, and that's why they should trust you and your brand.
It's your retail brand your goal is to make your product look and be more appealing to the public. Your items may sit beside competing brands on the shelves, so you'll need to use specific branding to make them stand out to people.
You can also go for the wow factor or an aesthetic look. The great thing about retail branding is you can change it depending on the treads. Trends come and go and then come back again.
Shifting your branding toward what's popular at the moment could be beneficial. On the other hand, you could choose to stay the same.
Apple for example has a very distinctive look that is recognizable and it hasn't changed. Large companies like Pepsi and McDonald's have changed their logos throughout the years just slightly to make them visibly appealing.
Geographic vs. Cultural
Similar to online and offline branding, geographic and cultural branding are different, but both target specific audiences based on their location and values. This type of branding works great for businesses that work in tourism.
If you want to attract people to your city or location, you can use cultural aspects to appeal to them. All branding should be centered around culture or region. Make the branding less about the personality of the company.
Geographic branding typically used popular landmarks to attract people. For example, a restaurant in New York that has a view of the Status of Liberty may use that to appeal to tourists.
An example of cultural branding, sticking with New York, is branding toward a fast-paced lifestyle. New York is also known for its corporate world and fashion, which you can use to market to people.
People like to shop at companies that have the same values as them. If you feel passionate about a cause, it's likely your consumers do too. Consider using your mission statement to brand yourself.
If your company prides itself on being eco-friendly, be sure to include that when you're working on product development. You want to encourage consumers to purchase your products or use your service rather than other companies.
You can use ingredient branding to attract people to your brand. This doesn't apply only to companies that offer food services.
To do this, you're going to want to advertise and focus on one specific factor that makes you unique. You'll give the ingredient its own label with hopes that it will add creditability to the parent company. It's a great way to get a leg up on your competitors.
In 2004 Dodge used this branding to launch a campaign about the engines they were putting into their cars. This shifted the focus from the actual car to the product inside. It made Dodge stand out from other car companies and encouraged consumers to start asking about the battery brands.
There are a few examples of larger companies that use this, such as Onstar and Tide Detergent. However, you can take advantage of this if you're a smaller brand.
The Purple mattress company is becoming really popular. If you own a short-term rental property, you can advertise that you have these mattresses. It may make you stand out from other properties that are close by.
If you own a store that sells other brands and products, you may want to use private labeling as a branding strategy. Walmart and Costco are great examples of this. While they sell different many different companies' products, they offer more affordable options through their brand.
Co-branding can be great for growing your business. However, there are some risks that you need to be aware of too. Co-branding is when you team up with another company or multiple companies.
You'll be able to share branding tips and come up with a campaign that promotes all parties involved. You'll be able to reach a larger audience doing this method of branding.
You'll also be able to increase your profits. Be sure to partner with people and businesses that have the same message and morals as you. Don't team up with a company that has a bad reputation.
They might want to partner with you to improve their image, but that will only drag you down. Do your research before, read their customer reviews and ask them about their mission statement and goals.
Co-branding can be a great option because it doesn't have to be long-term. If you can do a long-term partnership or a quick collaboration.
You may not be aware of this branding strategy. It's not as common as some of the others, but it can be effective if done correctly.
Companies that use this strategy focus on their message. Typically the message is "we invest in our product, not the packaging". The hope is that people will see that you and your company spent less on branding so you could price the lower, saving the consumer money.
The other goal is to promote that your product is good enough that it doesn't need a brand. One of the downsides is minimal packaging is your product may look like a generic or knock-off brand. It can be challenging to gain people's trust enough that they will switch from their favorite name brand.
If you're just starting your brand and haven't decided what product packaging to use, consider no-name branding first. If it doesn't work, you still have the opportunity to create a new distinctive logo.
If you have a well-established company you may want to consider branching out and expanding your company. This will help you grow your business and reach another audience. It's also known as brand stretching.
If you have a restaurant you could open an ice cream parole beside it under a different name. If you own a retail company that creates business causal attire, you could extend your brand by making a sister company. You could create an athletic line or branch out into casual clothing.
This will require you to have loyal customers who will follow you and support your new brand. Ideally, your new brand will have a large base right off the bat and then continue to grow as you reach a new set of customers.
Importance of Branding and Design Details
Now you know the different types of branding, it is time to talk about why it's important to allocate resources to branding. Once you know the how and why behind product packing and brand development, you'll be unstoppable.
Increase Profit and Value
Once you have an established company through branding, you'll be able to increase your profits. People will pay extra for brand-name products.
If you promote your company as a worthy competitor, buyers will notice, and they will appreciate your leadership and knowledge about the product or service. They will likely pay more because they know you and your company are the best
Makes Business Easier
Through branding, you can establish trust with your clients. This will make it easier for you and your salesmen to close deals faster. If your consumers already know your values then you won't have such a tough time selling your product or service to them.
Branding helps create a sense of trust between you and your buyer or clients. Think about your target audience. What do they care about?
Use your branding to appeal to their values. You can create opportunities to connect with them and promote your company.
Think about Nike. Their iconic swish is known worldwide. They don't have to have their name under the design for people to recognize them.
That is what you want for your company. You'll be able to create an identity that people recognize by using branding strategies.
Decrease Marketing Costs
Over time you'll be able to reduce marketing costs because your branding has helped you create a relationship with the public.
Let's say you come out with a product, and you've established yourself through branding. When you come out with your next product you won't have to invest as much into marketing it because you already have a loyal clientele that knows you're supplying a good product.
Increase Internal Morale
This isn't an obvious benefit. How do product development and branding increase employee satisfaction? Well, if you have a strong brand, the office and company will likely feel more organized and strong.
Your employees may not feel they are working towards a goal if the company isn't promoting itself as doing so. They may not feel there is an incentive to brand for a company that isn't branding itself.
Think of Google. They offer their employees a wide variety of benefits. They are known for their technology but also for treating their employees right. This also helps create a trustworthy reputation.
As you can see, there are many ways to use branding. Branding is connected to visual design. The look of your logo and brand can be useful in catching a consumer's eye and drawing them away from your competition.
It's crucial that you invest in branding and make it intentional. Branding gives you the ability to create the look you want for your company.
It takes time to grow a business, but branding will help you spend up the process. You have the opportunity to pick which type of branding is best for you and your company.
Keep in mind you don't have to pick just one, and you can change based on the growth and progression of your company. It can be challenging to know which type is going to increase your profits the most.
That's why we are here. We can help you with your product development and design. Click here to contact us to get started or ask us any questions.