Seven ways to prepare branding strategy for new products or services
“Good brands have charm; great brands have soul”
“Products are created in the factory; brands are created in the mind”
Well, you can find plenty of such quotes online accentuating the importance of carving out an image of your product in the consumer’s mind. A new product is only as good as its branding strategy.
For brand to become a well known renowned brand it takes time. To create a legacy, not only the product you offer should be good but the brand you create in the initial phase of the product life-cycle is also equally important. Now, I wouldn’t say that having a good designed branding strategy can skyrocket your product without the product being any good. Both these go hand-in-hand.
To have a successful branding campaign we should follow these 7 steps :
1. Steal the show with the proper audience aka know your target audience
The most important thing for any product or service is the audience. Focus on a particular band of audience from the entire spectrum to enhance the marketing efforts and therefore the growth opportunities. A wider band would mean a diluted strategy. You can broaden the spectrum once you are the Brad Pitt of your league.
Once you have identified your target audience, have a thorough research about them, for more profitability and growth. Scoop out the priorities and perspectives of your audience to develop an impressive strategy and deliver a promising product.
2. Brand Positioning
Philip Kotler, “the” marketing guru, stressed out brand positioning as the most important concept in the entire marketing domain. It creates differentiation from other similar products and gives your target audience a reason to choose you over others. A smooth and effective brand positioning will maximize your brand value in the consumer’s mind.
3. Spread out the word (core message)
Identify your key strengths and accentuate those strengths. The core message that you deliver to your audience should address their needs and underline the importance of your product or service in their lives.
Create a tagline that represents the soul of your product. Personify your brand and treat it like one. The tagline should be quirky and easy to remember and should resonate with the deliverables of your product.
A good brand creates advertisements but a great brand creates stories. Stories that audience can relate to, emotionally. Nothing grabs their attention better than a good story and it has a lasting impact. Also figure out the platforms you would use to advertise your product or service according to the research done about your target audience. Use the form of media they prefer.
Content marketing is a powerful medium these days with the most thriving results. Create ripples with a strong content in the market. Endorse the best suited celebrities/influencers for your domain.
5. For a deeper insight, create your website
For providing a deeper insight about your product or service, create your own website. It should provide all the intricate details about your product and highlight the key sparkles about it. The website must be designed in the most interactive way and with utmost user-friendliness. A cheerful outlook should be given to the interface, for that ultimate user-experience.
“Change is the only constant”
Nothing can beat the continual improvement. Always analyse your dashboards, the unwanted and boost those key performing indicators. At every stage, keep analysing your strategy for tweaking it to generate the best of the results. Create performance standards and compare your results at regular intervals to ensure the dream-run of your product and make it a mega-hit.
A branding strategy can put your product or service into the super players’ league within no-time, but mind you, without a good product you cannot sustain your dominance in the market. Trust and a lifetime-experience are the two ballistic missiles that every product should have in its arsenal.
So remember, connect emotionally, tell your story effectively and you get a winner.
Go ‘Build your Brand’.