The crisp opening of a red-colored can immediately makes you think of Coca-Cola, doesn’t it? Or what about a crunchy, fried chicken leg on a billboard? Got KFC on your mind, didn’t you? This, folks, is all that branding is about.
The 10 Elements of Branding
And just like matter’s building blocks are called elements, branding, too, rests on 10 elements that make brands stand out in the crowd. Here’s all you need to know about the 10 most important elements of branding to put your brand on the market!
1. Brand image
The expectation or idea that your targeted audience maintains in their mind about your brand is what brand image is all about! Take KFC, for example. You will always associate KFC with fried chicken, wouldn’t you? But if this beloved chicken place starts selling vegan pizzas, how would you feel about it? Not so great, right?
When the audience has a certain perception of your brand in mind, it is nearly impossible to change it. This means that brand image needs to be formulated first and foremost by identifying the key audience you want to market to and determining your critical business goals.
2. Brand Positioning
There may be a hundred different shoe-making companies, but a brand like Nike or Adidas would strike out any local competition by a mile. Ever wonder why? It’s because these sportswear companies position themselves as a brand different from other brands of shoes.
Brand positioning involves everything from marketing strategies to logo designs and catchy taglines. It’s how you position your product, identity, and vision in front of customers.
This helps brands differentiate themselves from every other brand in the market.
To work on this, you will need to keep tabs on your competitors through proper research while coming up with something that is authentic and resonates with your target audience. If done right, brand positioning can help gain customers for your brand in no time.
3. Brand Identity
If someone were to identify you from a crowd, they would call out your name or recognize you through your physical appearance. Similarly, brands need a concrete identity to set themselves apart and become recognizable in a vast sea of competitors.
Brand identity ranges from the name, logo, color palette, typography, and all the brand’s visual elements that make it stand out. The red, white, and blue globe of Pepsi are recognized worldwide. So is Nike’s tagline, “Just Do It.”
Think of something simplistic but memorable for your brand. If you want your brand to be imprinted in the minds of people, a recognizable brand identity is extremely crucial.
4. Brand Communication
Effective communication is key if you plan on putting your brand on the map. Conversing with your audience entails coming up with fresh and creative content for social media, attractive imagery for billboards, and keeping up with customer service.
Refer to reviews and engage through social media platforms to keep brand communication active. Once you communicate effectively with your audience, it will help build trust between your brand and customers.
5. Brand Personality
Think of your brand as a living, breathing person. Just like any other individual, it inculcates a certain personality. To appeal to audiences, brand personalities must be carefully crafted.
They evoke an emotional connection among customers, which helps them become relevant.
When you think of Gucci, you will automatically associate it with a bold, romantic personality. This is how brands form a personal relationship with their customers.
6. Brand Gap
If what you’re promising your customers falls short of what you provide them in the form of your product, your brand can fail miserably.
This brand gap is of ultimate concern. You must market your brand in a way that encapsulates what you’re selling and is not a heightened exaggeration of what you deliver. The brand gap must be always kept low.
7. Brand Experience
At the end of the day, it’s all about the consumers and the lasting impression that the brand creates on them. This impression is a mixture of all thoughts and feelings that a customer experiences while going through their journey of purchasing and using the brand’s product.
The customer’s journey with the brand, from purchasing to using the product, plays out in the form of the brand experience. This is one of the deciding factors of your brand’s success. It determines whether you will continue to gain or lose customers.
8. Brand Equity
The material or social value of your brand comprises its equity. It’s how people perceive your brand’s worth. If people associate your brand’s products with extravagance, the brand equity automatically goes up.
This is why brands like Chanel, Louis Vuitton, and Rolex are priced at higher levels compared to other brands selling the same products.
9. Brand Extension
You must always complement existing products or services in your brand with new initiatives to cater to a more diverse market. This is where brand extension comes in.
Utilizing an effective marketing strategy to sell a newer product using an already established brand name can work wonders for brands. It can help increase sales and brand equity.
10. Brand Advocates
To relate to customers and become more open, brands often use brand advocates or ambassadors to help market their products.
These can either be celebrities or real customers validating the brand through their experiences. This helps deliver originality and authenticates your brand.
There you have it. A thorough explanation of all the elements that make up branding! To get a grip on marketing your brand, make sure you effectively utilize each element.
Once you get the hang of branding, you’ll surely be able to succeed with your brand in a saturated market. Good luck!
That Made Me a Millionaire!