The power of branding: 3 ways you can improve your image.
In this digital world and age we are surrounded by millions of brands every single day. While it is the biggest opportunity for your business to become a part of someone’s daily routine it’s also where it gets tricky. It should be known by now that only selling your products is just not enough and the sooner you understand it, the easier it will be to join the train. There are plenty examples of great and successful branding strategies come to life, so it would be such a loss if you wouldn’t take advantage of this opportunity. Branding your business and standing out in the crowd overloaded with hundreds of similar products is a must if you want your business to go a long way. Here are some ways your business can differentiate itself from the others:
1. EXCLUSIVITY IS THE KEY
Admit it, these days sometimes people will pay big money for the weirdest stuff. For instance, do you remember the “Supreme” brick? Well it sold out in a day with the original price of 30 USD and now you can find it on “Ebay”, where its price skyrocketed up to 1000 USD. Crazy, right? Why would anybody pay that kind of money for a regular brick with logo? But it’s just a perfect example of what branding yourself as an exclusive brand might grant you. Of course, Supreme’s success is also a consequence of over the years self established business reputation. Instead of doing something this crazy, you could introduce limited edition items to your product portfolio. In addition, selling products in smaller quantities could deliver similar effect as well.
2. YOUR TARGET SOCIAL CLASS
You might feel like capturing all market and in some instances it may even work but focusing on your target social class will help you to achieve the position in the market you’re working so hard to reach. This is a primary question you want to ask yourself: is your brand affordable, affordable-luxury or luxury? Answering this question will help you determine the target social class you will want to focus on. However, once you determine your mind, you should stay consistent. Famous “Pandora” jewelry once was classified as affordable jewelry brand but then tried entering luxury market. However, this didn’t end up working and the brand settled in the middle — as the affordable-luxury leader. This unnecessary rebranding not only costs money and time, it also brings confusion to the customers and keeps focus on rebranding rather than the client. So once you figure out your place in the market — utilize it.
3. COMPASSION IS EVERYTHING
Don’t feel like limiting product quantities? No problem. Especially lately, there are more and more brands, which differentiate itself by showing their compassion and openly supporting the causes that are near and dear to their hearts. With increasing concern in sustainability, many brands already are utilizing this tip. For instance, you can find several jewelry brands who in support of marine life donates certain percentage of proceeds to a certain non-profit organization. Of course, you shouldn’t copy these brands but you can for sure find some kind of generous cause that would associate with your brand and the products you sell. People love contributing to our worlds improvement. Use this to your advantage and not only improve your brand but also help to make the world a better place!
Consequently, there are hundred ways you can brand your business. No way is better than the other. The most important thing is determination, confidence and consistency. Use your creativity and therefore redefine your business purpose and image for the better.
