Brand strategy types and how to choose the best one for your business

Essentially, there are several branding strategy types that are widely used. Here is a list of the most common ones:

Product branding

As the name implies, product branding is about making a product recognizable, differentiate it from others by applying a set of distinct branding attributes. It includes unique packaging design, symbol, logo design, etc. With the help of product branding, customers can identify various products. That type of branding is essential to every company that has its own products.

Service branding

When speaking about service branding, one needs to understand that this type of branding relies heavily on the quality of the service rather than the branding itself. In other words, it touches upon impeccable service assistance and excellent customer experience. It means that the services your company provides should be qualified and be consistent with your brand mission and values.

Retail branding

Similar to that of the product branding strategy, retail branding aims at branding products not apart from but within the distinct environment. It means that despite having excellent product branding, the company designs and brands a specific environment across that product that is considered to be a part of it. It significantly increases consistency and contributes to better audience engagement.

Corporate branding

When you need to build a brand for an entire corporation, you will probably employ the corporate branding strategy. It covers every sphere of the organization’s performance and all segments, including services and products, corporate culture, and marketing. Corporate branding has long-term effects because it employs techniques aimed to drive recognition and awareness of the overall brand.

Personal branding

The concept of personal branding relates to individuals who want to promote their own brand. It can be useful for celebrities, politicians, or entrepreneurs aiming to maintain a positive image, which can be a benefit for their careers. With a solid personal branding strategy, it’s possible to become an expert in the respective field and drive awareness to that scope of a business.

Global branding

Compared to corporate branding strategy, global branding is more extensive because it covers not only the organization but also extends to other global markets and countries. When adhering to this type of branding strategy, it’s critical to consider the difference between cultures and nationalities yet keep to the established brand policy. In other words, it implies the same branding policy with small differences concerning the multicultural, social consumers’ behavior and habits.

Co-branding

When two companies unite in order to advance their brands, influencing each other, we speak about co-branding strategy. This branding strategy suits especially those businesses that share adjacent industries and features beneficial for each of the two. For instance, one company may feature an excellent marketplace, while the other produces products suiting that market. Then, companies unite and generate an authentic product or campaign that is beneficial for both of them. Such a bilateral relationship allows both businesses to get a higher saturation and attract new customers.

All in all, branding policies are plenty. If you don’t know how to pick up the best option for your business, you can always address brand strategy consulting New York agencies. Whether you want to combine multiple strategies or apply only one, brand strategy consulting New York agency can help you with both. However, it’s still helpful to know how to choose the right branding policy for your business:

Define your brand’s core features and values
First, it is essential to outline your brand features, values, and mission so that you know what your business stands for. With that information in mind, it will be easier to define the needed strategy.

Consider your audience
Apart from the business needs, you need to consider the audience’s needs as well. Also, it’s important to know it from various angles – their habits, preferences, desires, and attitudes. The more you know, the more successful the strategy will be.

Consider your industry
Another critical factor is the industry your business operates in. And each industry has some peculiarities and features, not every strategy will be compatible with. Therefore, knowing your industry is vital for choosing the best branding strategy.

Ultimately, various types of branding strategies relate to different businesses, scales, and goals, which is essential to keep in mind when choosing a perfect branding policy. For instance, corporate branding can be a good fit for a large-scale company, while global branding will require several large-scale organizations that are located globally. Thus, branding strategy is powerful unless it is chosen correctly.

The Best Target Market Research Questions

If you are ready to start conducting Human Touch Research of you target market, follow these questions as a guide. Begin by over the next few days interviewing 10 people from your target market. They can be past clients, prospects, people in your network, etc. Conduct the interviews over the phone or in person.If you know the person in your target market very well, I recommend you pick up the phone and set up a time where you can talk for 15 minutes. If you don’t know them well, email them and ask for a 15 minute conversation. Give them some specific days and times to choose from that works for them.TIP #1: When you’re setting up the interview tell them, “I’m doing some research to grow my business and I want your advice.”TIP #2: Make your interview relaxed and conversational. The more at ease you are the more relaxed they’ll be.TIP #3: Use the questions I provide for you later in the article as a guide. Feel free to go “off script” and pursue any question deeper.TIP #4: If possible, record your interviews with them. Be sure to tell them you are recording the call for research purposes only. Basically, you want to note the EXACT words they use to describe their top questions, challenges and complaints around your topic.If you don’t have past or current clients yet, ask people who could be your clients – even if they are friends and family. Just start somewhere. Figure out how to reach them and adapt the questions to fit the context of your conversation.Sample Questions, what path lead them to you:1. How did you find me?This is very important because you want to trace how they found you so you can help all those unknown members of your market do the same. This helps you define your future marketing outreach strategy.2. What would you type into Google to find help solve your problem? Or, if you didn’t remember my name, what would you type into Google to find me?Find out how people perceive you, what they identify as your keyword and the phrases they would use to search your topic online.3. Why did you decide to do business with me? Or, what was it that made you decide to hire me and not someone else?4. What do you read?Get specific answers: magazines, ezines, websites, etc. You’re looking for places you can submit articles and ads to promote your business.5. Where do you like to hang out? (Both online and offline)6. Where do you network?This will tell you if you’re going to the right networking events and which ones you need to start going to. Also listen for seminars and live events they go to.7. Who else do you do business with?This will tell you who to approach later as joint venture partners, JV’s, and affiliates.8. Where can I find a roomful of people just like you?Sample Questions to help identify their problems:1. What were the main problems you wanted help with when you first came to me?2. What keeps you up at night?3. What are you afraid of?4. What are you angry about?5. What are your top frustrations about (your topic)?6. What do you secretly desire most? Not everything is a “problem.” Sometimes the problem your target faces is an unfulfilled desire.7. What would I need to say right now that would cause you to pull out your credit card this very instant and buy from me?8. What is the exact language they use to describe their problems and desires?9. What objections do they have to buying your program?During Their Walk across the Magic Room Questions (Your Process)I use the analogy of a Magic Room when conducting market research. Imagine a room with an entry door on one end and an exit door on the opposite side. Outside of the room, near the entrance, a member of your target market is struggling and suffering. They read a sign above the entry door. It compels them enough to gather enough strength and open the door to go inside. As they journey across your Magic Room, they get noticeably better and better. By the time they reach for the exit door, they are happy, free and smiling. They walk out the door with a song in their heart and a skip in their step.Now imagine your target walking through the Magic Room. This is where you do your work with them so they transform. Your goal with these questions is to find out what specifically in your process worked best for them. This can be very enlightening. You’ll discover ways to improve your products and services and hone in to get the best and fastest results for your clients.If you’re asking people you’ve never worked with before simply adjust these questions and find out what they want IF they were to work with you.1. Why did you want a solution for these problems?2. What part of our work together did you receive the most benefit from?3. Was there anything I did in our work together that caused the greatest shift for you?4. How best do you like to consume information? Books, eBooks, teleclasses, audio CDs, downloadable audios, live events, one-on-one coaching, group coaching, etc.?After They Walk Out of the Magic Room Questions (The End Result)After they’ve walked through the room they’ve transformed. You want to capture the end results they experienced as they walk out the exit door. Hone in on the tangible results as well as the emotions they feel now that they are free and fulfilled.1. What are the top three benefits you received from our work together?2. How does it feel now that you have solved your problem?3. What specific results do you now have because of our work together? You want to get this ideally in the form of a numerical statistic.Leverage People Who Know Your Target MarketIn addition to asking your target market directly, ask people who know your market well. This is especially a good exercise if you don’t have clients yet.Contact people who know your target market and ask them the same questions from the last section. They can be business colleagues, associates, etc. Maybe invite them out to lunch to interview them.Summing Up Your Market ResearchAt this point you should have a VERY good idea about which of your business and/or product ideas will be a hit based on what the market tells you, not what you THINK will be a hit.

Network Marketing – Which Type is For You?

When you hear the words, “network marketing” what comes to mind? We can all remember hearing people talk about their network marketing business. Amway and other pyramid methods were very popular and the only difference today is that is now online!

There are so many different types of network marketing. Some are good, and others are not so good. The type of marketing that many of us are most familiar with it direct selling. This category is made up of companies that sell the product directly to the distributor. Companies such as Tupperware, and Avon are direct selling companies. Other types of network marketing are affiliate marketing. In affiliate marketing, companies choose products to promote through their own website. Commission Junction and Clickbank are two of the biggest affiliate marketing companies out there today.

MLM, or Multi-Level Marketing is yet another variety of network marketing. Some MLM companies are direct selling companies as well. With the MLM style, you sell a product and then you have to recruit other to sell as well. If you do not get people under you to sell, you won’t stand to make as much money as you could with people working under you.

Some forms of MLM are illegal pyramid schemes. In these pyramids, people at the top make all the money, while sales people at the bottom do most of the work. These models of marketing are designed to fail. People at the bottom are eventually unable to support the pyramid and the whole thing falls apart.

Before signing up with any MLM, direct seller, or other type, make sure you do your homework. You want to have a positive experience with a good business!