Article provided by: brandetize.com
Building a branding strategy requires a diverse skillset. From branding insights to practical experience, learning how to build a successful branding strategy can take years to master.
That said, sometimes the simplest of brand experiences can drive business results. The following are three simple strategies that you can implement to boost your brand perception.
Create More Products
Perhaps, the simplest of the branding strategies is to introduce another product under the same brand name.
Your brand not offering the products that the consumers are looking for is one of the reasons why brand growth takes a hit. As an example, Apple introduced a cheaper iPhone model, the SE, because consumers wanted a cheaper iPhone, but there wasn’t any. Apple saw this as a potential threat to their brand growth.
With the launch of the SE, Apple gave its consumers exactly what they were looking for.
So, if you want to uplift consumer perceptions about your brand or just want your brand to grow, introducing a new product in response to a consumer request is the way to go.
Introduce a Sister Brand in a different Field
Diversification has many risks. Done wrong, it can not only distort your brand image, but it can also leave your consumers feeling disenfranchised. But, despite all the disadvantages, diversification can present incredible growth opportunities.
Let’s look at an example. Microsoft makes software. They are known for products like Windows and Office. But they diversified and now make a lot of Surface products as well. Surface is their sister brand dedicated to consumer computing hardware. With Surface, they attract a different set of eyeballs, which is always.
In short, diversification gives you an opportunity to find areas of potential growth.
So, you can take your brand to new heights if you can launch a successful sister brand in a slightly different field.
Create A Separate Brand in the Same Field
One of our favorite actionable strategies for business branding is to launch a separate brand in the same field.
In other words, you develop new products, and you launch a new brand to go along with those products. Let’s say you have an online t-shirt printing business. Your main brand, the one you are looking to grow, only prints t-shirts related to American Football. A sound branding strategy can come in the form of you launching a separate brand printing shirts about movies and shows.
This way your main brand can piggyback on the success of your other one. And vice versa.
Creating a separate brand is the costliest of the three strategies mentioned here. But it also the most rewarding. Not only from a monetary standpoint, the increase in revenue will be substantial if you manage to pull it off, but also from a marketing standpoint.
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