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Brand Development Strategies To Apply In 2020
In this highly competitive marketplace, companies must put in their best efforts to market themselves effectively.
Marketing domains like digital publishing and social media thrive on this knowledge, where landscape experiences momentous shifts, month to month, as algorithms change and new platforms come up.
One of the most important aspects of marketing that does not change frequently, and is often overlooked in the quest of discovering new strategies, is branding.
However, it is the most critical trend to stay abreast of the latest happenings and let the brand image of your company evolves to meet the current demands and consumer expectations.
While building the marketing strategy in 2020, remember these 4 key shifts in modern-day branding:
Tip#1: Branding has an Impact on Customers & Employees
Candidates have a much wider variety of businesses at their disposal than before, whether it’s a startup or a global giant.
One has to pass through many hurdles to attract major talent. To top it all, with increasing transparency like never before owing to social media channels, websites, blogs, and platforms like Glassdoor, your business culture gets highlighted to potential new candidates.
Keeping that in mind, companies should think of branding as their only way to attract customers and allure qualified job seekers to be a part of the team.
If the business gives an unprofessional, feel through poor design or few Instagram followers and Facebook likes, the risks of missing the best candidate increase.
In addition, if the company does not prioritize employees’ well-being, their integrity is in the doldrums.
Tip#2: Think Beyond “Affordability”
Affordability is no longer a question when it comes to millennial buyers. Young customers prefer to pay more for a superior quality experience and best quality materials. Pricing isn’t even considered here.
A PwC study reveals, 42% of consumers were ready to pay more for a welcoming and friendly experience whereas 52% would not mind paying more for an effective and quick experience.
Nielsen also found that 3 out of every 4 millennials are likely to spend more on all sustainable products.
Did you notice the phenomenal success of premium brands like Whole Foods and Equinox?
It’s all because these brand development is paying more attention to quality.
Tip#3: CEOs Become Brand Advertisers
Did you know of role-playing? It is playing up more than ever before.
Instead of desensitizing customers with your brand advertisement all over the place, from hoarding to hoarding, freeways, TV, radio, and everywhere humanly possible, provide something lucrative.
When the CEOs of big companies get involved in branding the business, they become the face of the business.
Rather than having a faceless logo or an unknown image on the billboard asking people to trust the brand, the CEOs could do it better.
After all, it is much easier to trust a human being running the company than a nonprofessional.
CEOs are now running their YouTube channels, Instagram accounts, and LinkedIn pages to market the brand and share valuable content with their customers directly.
This is one of the best branding approaches seen in 2020.
Tip#4: Use a Comprehensive Branding Service for Brand Development
For any business, high-growth is the first step to success, followed by blending qualified talent, technology systems, and processing custom-design for clients.
360BrandFuel Eventige is one such comprehensive service that provides unified marketing strategies and advertising support necessary for a fast-growing brand to pace up with the market needs.
For branding, it is important to evaluate the existing brand, analyze its current position, address business priorities, confirm a penetration analysis, and have a budget and a strategy.
Experts can handle these tasks to give you a clear and concise branding strategy to uplift your brand with creative design and communication packages.
A full 360BrandFuel Eventige package comprises of in-depth research and development to deliver the most relevant branding strategy for your business.