With so many branding strategies to choose from, it may be difficult to pinpoint which branding types work well for your business. Some of the best ways to select the proper branding strategy begin with understanding what branding is and defining your brand identity.
Once you learn how to position yourself as a brand and you take advantage of brand strategies, you will be on your way to earning brand loyalty, recognition, equity, and awareness.
What Is Branding?
Branding is a marketing practice that helps individuals to differentiate your business’ products or service from others. Branding often involves creating elements such as a logo, mission statement, and design that is consistent throughout each marketing communication type.
Your brand is a representation of who you are as a business, and using effective brand strategies can help your business to grow and reach beyond your target audience.
7 Types of Branding Strategies
There are several types of branding that may add value to your company depending on your target audience, industry, budget, and marketing campaigns. Here are seven types of branding strategies that have the potential to build brand equity for your business.
Personal branding describes branding that is used for an individual person, instead of branding for a whole business. This type of branding is often used to establish a person’s character, personality, or work as a brand.
Celebrities, politicians, thought leaders, and athletes often use this form of branding to present the best version of themselves to the public.
For example, Seth Godin, entrepreneur and of over 20 marketing books, positioned himself as a business and marketing expert. Seth has a recognizable personal brand, and individuals now associate him with his short blog posts that pinpoint one idea at a time. People want to hear from Seth Godin rather than a company or organization due to the effectiveness of his personal brand.
This is one of the most popular branding types. Product branding focuses on making a single product distinct and recognizable. Symbols or designs are an essential part of product branding to help your customers identify your product easily.
For example, Monster Energy drinks have distinct packaging and logos that make it easily distinguishable from Red Bull energy drinks.
Corporate branding is a core value of business and a philosophy that a business develops to present itself to the world and its own employees.
Effective corporate brands often seek to display the company’s mission, personality, and core values in each point of contact it has with prospective customers, current customers, and past customers.
For example, Nike’s core values and mission are recognizable across all of their platforms and products. Nike’s mission statement is “To bring inspiration and innovation to every athlete in the world.” And its slogan, next to their famous swoosh check mark logo, is “Just do it”.
As a corporate brand, Nike positions themselves as a brand for athletes, sports enthusiasts, and anyone who is passionate about fitness. They also make it clear that they believe anyone can be an athlete.
Service branding leverages the needs of the customer. Companies that use service branding seek to provide their customers with world-class service. They aim to use excellent customer service as a way to provide value to their customers.
For example, Chick-fil-A is known for its excellent customer service – making it now synonymous with its brand.
Co-branding is a form of branding that connects companies together. Essentially, co-branding is a marketing partnership between two or more businesses. This helps brands impact each other positively, and it may result in one growing its business, spreading brand awareness, and breaking into new markets.
For example, Frito Lay and Taco Bell came together and made the Doritos Locos Taco that appealed to both audiences.
Online branding, also known as internet branding, helps businesses to position themselves as a part of the online marketplace. This type of branding includes a company’s website, social media platforms, blogs, and other online content.
Most companies use some aspect of online or internet branding in today’s marketplace.
This type of branding is also known as minimalist branding. These brands are often generic brands that seek to let their products speak for themselves without all the extras many others provide their consumers with.
Some of the most noteworthy no-branding branding examples include Brandless and m/f people. As you can see on Brandless‘ website, their packaging, colors, and overall aesthetic is very simple. This aligns with their mission of providing fairly priced food to people without a typical brand.
Despite the fact that Brandless recently announced its closure, it is an excellent example of no-brand branding that saw great success for several years.
study conducted by HubSpot, visuals are processed and retained by individuals at faster rates than text. And visuals such as infographics are 3X as likely to be shared on social media over other forms of content.
Visuals make up a large part of what your prospects and customers remember about your brand. Make sure your visuals are related to your overall brand theme and core values.
This provides you with brand consistency and makes it so that your customers can easily identify your brand later on when they see similar images.
For example, the manufacturing company, General Electric, provides its customers with engaging and interesting visuals on its social media channels. This visual content helps them to tell their story to consumers and it establishes their brand identity.