- August 5, 2020
- Posted by: Thistle Praxis Consulting
- Category: Articles, Business plans
Branding is a disciplined process used to build awareness and extend clients’ loyalty. Branding is a desire to lead. It’s a desire to outpace your competitions or competitors. Branding is critical to a business because of the overall impact it makes on your company. It can change how people perceive your brand, it can drive new business and increase brand awareness.
Branding is important when trying to generate future business, and a strongly established brand can increase a business’s value by giving the company more leverage in the industry. This makes it a more appealing investment opportunity because of its firmly established place in the marketplace.
TYPES OF BRAND
Co-Branding: It’s about partnering two brands together to brand a product, wherein the success of one brand brings success to its partner brand; this can be of the same company or from two distinct companies.
Co-branding can be an effective way to build a business, boost awareness, and break into new markets, and for a partnership to truly work, it has to be a win-win for all players in the game. Both parties need to find value.
Digital Branding: This is a brand technique that uses a combination of internet branding and online marketing to develop a brand over a range of digital venues, including internet-based relationships, device-based applications, or media content.
It’s all about using the digital media available to pursue profit-making. Social Media is the number one in pushing out our products and our services now. Social media has over 2 billion users, A billion-plus on Facebook alone 450 million on Instagram. Most especially, social media is the most active means of branding now.
Personal Branding: Is how you promote yourself. It is the unique combination of skills, experience, and personality that you want the world to see you. It is the telling of your story, and how it reflects your conduct, behavior, spoken and unspoken words, and attitudes.
Who best illustrate what personal branding is; it’s no other person than Cristiano Ronaldo.
Cause Branding: This when brands pulled their resources together for a charitable cause or corporate social responsibility.
Country Branding: Every country in the world brand to attract people and to show the beauty of the country.
In conclusion, being properly branded gives the impression of being industry experts and makes the public feel as though they can trust your company, the products and services it offers, and the way it handles its business.
Written by Andrew Inegbese