How to Pick the Right Branding Strategy for Your Business
Experts have been saying for years that, soon, individual businesses would be thought of as personal brands.
And with the dawn of social media, that prediction has proved true. It's not enough to simply sell a product anymore—it's about being authentic and sharing your company's story and your vision alongside it.
The question now isn't, "Should you build a brand?" It's what types of branding strategies are there, and which is right for me?
Here are the different types of branding strategies you might use for your business.
Okay, your business probably isn't as recognizable as Nike, Starbucks, or Coca Cola. But you can emulate something they all have done, which is t build a name brand around your product.
At the height of its powers, a name brand can surpass the old term for the product being sold (think Kleenex versus facial tissue).
If you want to go this route, make sure your company's name is recognizable, easy to say, and something people will remember.
That way you can put it on everything—business cards, your website, and even custom invoices. On that note, check out these free invoice templates .
More popular than ever before, an attitude brand conveys the values, interests, and skillsets of the people leading the business.
Think of your favorite sports team (or just the most popular ones). What do those brands represent to you? In all likelihood, people at the top of the organization have spent hundreds of hours streamlining that message to get it to your ears and eyes.
With the shift towards authenticity and more "behind-the-scenes" content being published on social media , attitudes and personalities are increasingly becoming the go-to type of brand.
It may seem counterintuitive, but many companies employ several competing brands at one time. This way, they are able to soak up more of the market share.
If you're just a small business this might not be an option. But it is worth pointing out that some of the biggest companies you likely buy from (especially hygienic products) use this strategy masterfully.
Minimalism, like authenticity, is at the height of its powers. Nowadays, not saying anything about your brand can be a powerful way to set yourself apart in a crowded marketplace.
This branding strategy is great for businesses that emphasize sustainability or simplicity in their products. No-frills, no confusion, just value for their customers.
Crowdsource / Crowd Brand
With the rise of websites like GoFundMe and IndieGoGo, we're seeing more brands than ever before being built by a conglomerate of individuals.
Crowdsourcing flips the traditional branding model on its head. Instead of the business building the brand, the employees build it, which in turn helps promote the business.
Know the Different Types of Branding Strategies
A wide variety of options exist nowadays for anyone building a brand or business. From building a brand based on your attitude and personality to intentionally not building a recognizable brand, you have a lot of choices at your disposal.
The key is to pick the type or types of branding strategies that fit best with your product and leadership.
For more tips and guidelines about building a brand or business this year and beyond, check out our blog! Visit the Digital Marketing and Social Media sections to learn more about successful types of branding strategies on a frugal budget.