Developing your brand strategy 

What is brand strategy? 

With thousands of companies offering similar products and services, a brand strategy is essential to gaining market share in a competitive landscape. Corporate brand positioning is a complex exercise that needs to be aligned with product development plans, appeal to different demographics, as well as account for market dynamics and the strengths and weaknesses of competitor offerings. A product achieves success when it consistently lives up to the brand values it advocates and establishes a loyal customer base.   

Types of branding strategies 

Picking the right branding strategy involves defining your brand identity, determining your brand objectives, defining your target audience and understanding who the market players are in your specific industry.  

Here are seven types of branding strategies that you can use, depending on your target audience, industry, budget and advertising campaigns. 

1. Personal branding 

Often used by celebrities, politicians and athletes, this type of branding is built on an individual’s personality, talents or work abilities. 

2. Product branding 

Focuses on differentiating a product from others using logo design and packaging. 

3. Corporate branding 

The company uses its corporate mission and core values to represent itself in the community. 

4. Service branding 

Seeking to delight the customer, the company provides top-notch service to make its name known. 

5. Co-branding 

This is used during a joint marketing partnership between two or more companies. 

6. Online branding 

Online platforms (such as its website, social media, blogs) are used by a company to make its mark in the virtual arena. It is also known as Internet branding. 

7. No-brand branding 

Products are given centre stage without any fancy packaging or advertising and minimal branding. Companies that are confident in the quality of their products might tap on this strategy. 

Tips to develop your brand strategy 

Here are some tips to help you develop your branding strategy.  

1. Use the right visuals 

Visuals are more memorable than text so ensure that your visuals are connected to the theme of your brand and the company’s core values for easy identification and brand consistency. 

2. Storytelling with a purpose 

Embed purposeful and authentic messages in your company’s narrative that are designed to capture and touch the hearts of your target audience. 

3. Humanise your brand 

Market your product to meet the needs of your consumers by addressing their concerns. 

4. Sentiment 

Use technology to capture online user sentiment to keep track of what people think of your brand. 

5. Engage with your customers 

Increase opportunities for interaction with your customers through in-person contact or social media platforms to keep your brand in the public’s mind. 

References 

Giles, Ericka. “7 Types of Branding Strategies and How to Select One (+ Examples)”. Posted June 1, 2020. https://www.bluleadz.com 

Sellers, Tim. “How Brand Strategy Can Shape Your Corporate DNA”. Forbes. Posted October 26, 2020. https://www.forbes.com 

IPOS International. “Building a Strong Brand”. Accessed September 24, 2021. https://iposinternational.com 

Lehmann, Sascha, Nils Liedtke, Phyllis Rothschild and Eloy Trevino. “The Future of Brand Strategy: It’s Time to ‘Go Electric’”. Posted May 27, 2020. https://www.mckinsey.com