A brand name is the most valuable asset for any business. A well-promoted brand can instantly connect the product to the manufacturer, and nowadays brands are valued in financial terms. No doubt that is the reason why companies spend tons of money in brand marketing to increase their value. It also adds value to stock holders.
Brand marketing is for every business and it is important to invest money and resources into building it. It will give your business get a unique identity that will connect you with your existing customers as well as bring in prospective customers to your doorstep. The value of the brand also reflects the confidence that consumers repose on its products and its abilities to service their needs and expectations.
Here is how to do brand marketing.
• Provide impeccable service to consumers – Providing memorable service is a little more expensive than providing run off the mill services and products. The additional investment you make does not go waste; it accumulates to your account by way of superior brand image. You will see the value reflect in your company’s balance when it is evaluated for financial purposes. There are many agencies that can fix a fair value for your brand.
• You should think differently from the crowd - Not a day goes without someone coming up with a new product or service as a competition to yours. They too are vying in the same niche as you are. That makes your job doubly difficult to manage. By thinking and providing services and goods that are different, you will be standing out noticeably. Being unique is important to brand marketing, and it adds value immensely.
• A great brand marketing strategy is to collaborate with a well known brand and build upon mutual strength. You may want to build a brand from scratch and that undoubtedly is a honorable endeavor. But starting from scratch and going up the ladder is strewn with uncertainties and can eat up your budget. Big businesses choose this route, and the reasons for choosing this is that they save money and time.
• Rope in leaders who can talk for your brand. When a celebrity talks about your brand, it becomes viral, and people begin to talk about it too. They get discussed in multiple forums; social media networks for example. The money you pay for these ambassadors gets amortized and adds to your brand’s value in a very short time. However, the celebrity must have an image for himself.
• Bring in the crowd to endorse your brand. Well known brands do it almost daily by starting a dialogue with opinion makers. You can talk to review website owners, the product reviewing community and newspaper commentators. Be honest with what you expect from them by educating them about your products and what you are doing to give consumers good services. This is particularly important if you are into consumer product manufacturing.
• Keep your products exclusive at least in the beginning. When your brand is exclusive and you let consumers know about it, interest builds up rapidly. One of the best known brands to have used this strategy is Pinterest. Currently with over 10 million users in its staple, Pinterest originally offered its services only to very exclusive people.
• The last and most important aspect of brand marketing for Retailers and Clients is to collaborate with an established high-profile brand to boost their credibility and visibility. Case in point, Heritage Retail, the largest supermarket chain in South India with 70 stores across Bangalore, Hyderabad, Chennai and the largest customer footfalls. Clients and retailers can use the supermarket display options to advertise their own products and services, goods and new arrival items.
