Developing a Branding Strategy

Developing a branding strategy is key to the long-term success of a business.

Branding is a marketing term used to describe the promotion of your company or product in such a way as to become a household name with your consumer. Your goal is to create such a positive impression that the consumer instinctively thinks of you when making his next purchase.

Branding can be costly and time-consuming, so it is important to come up with an effective plan. This means looking at what sort of marketing tools are most likely to create the image you want to create in the mind of the consumer, then use those tools to clearly define your vision to them.

The first step in developing a branding strategy that works is to define your consumer. Who will buy your goods or services? Marketing to a teenager is a lot different than marketing to a senior citizen.

Do you want to be known as having the largest number of widgets in stock or simply that you carry the best quality widgets? Is customer service key to the success of your company or is it more important for the consumer to think of you as prompt?

For a branding strategy to work, you must have a clearly defined, succinct picture of how you want the consumer to think of you. Think of Wal-Mart and you think of "Every Day Low Prices". The company's goal is to provide items you use on a regular basis at a low cost. Simple.

Now is when developing a branding strategy gets intense. In the marketing plan process, you must decide how best to relay your goals to your target. This can be done in a number of ways, including:

• Research your competition so you can distinguish yourself from them.

• Create a memorable logo and tagline.

• Design packaging. Whether you are selling candy bars or cleaning services, you have to think of not only first impressions but lasting impressions. Target did this with the simple red and white circle design. UPS with the brown truck and uniforms.

• Establish a publicity drive. In other words, decide on the best way to get your brand out to the customer. Does this mean giving away free samples, sponsoring local events, or lining up interviews nationally with radio and television hosts? Focus on publicity efforts that reach your targeted market.

Once you are done developing a branding strategy, it is time to implement it and monitor the results. It is not unusual to have to tweak your plan several times before you find one that is right for your company. By closely monitoring the results of your branding strategy, you can more effectively make changes timely, thus cutting the cost of ineffective marketing techniques.

Unless you've found a really unique niche in your field and have a ton of free publicity dumped in your lap, you will not likely see a drastic direct increase in sells immediately. This is because branding is not designed for the short-term. It is an ongoing process meant to build your reputation with the consumer over time. Its success is measured in repeat business, not one-time purchases, the way a sales ad might.

A branding strategy is a vital part of any company's business plan. It is the means by which a company defines its objectives to its customers and builds a relationship with them. Keep in mind as well that your success is also based on how well you live up to that image. If you want to be known for outstanding customer service, make sure your staff can live up to those expectations, and your customers will love you.

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