Product branding is a strategy that helps you define a differentiating value for your products and services. Today, the digital world has made great strides when it comes to selling. Distances are getting shorter, and for several years now it has been possible to buy a good from the other side of the world that arrives in a few days at the desired location.
Competition is fierce, and companies are looking for ways to communicate and reach their potential customers most efficiently and quickly. But more importantly, they are looking for ways to differentiate themselves from the competition, both economically and in the way they distribute and get their brand messages across.
An effective product branding strategy will position the good or service in the consumer’s mind and make it attractive. This is why companies spend millions of dollars to create the best branding campaigns that will attract potential customers or consumers, because they know that if they can emotionally connect people, the return will be even greater.
Importance of product branding
Product branding is very important in today’s world, where communication technologies enable the interconnection of billions of people around the world.
Positioning a brand involves having a well-defined branding strategy that will ultimately make the company more visible to competitors. Have you ever wondered why you prefer one specific product and not another?
This is the value of product branding: it is the ideas, feelings, and emotions that end up being linked to a product and that are decisive in purchasing decisions.
The importance of product branding also comes through the brand’s graphic image. In addition, corporate image plays a central role and must show what the brand represents to consumers. i.e., its most intangible values.
Positioning itself in the minds of consumers is the key to a company’s future, and with product branding it can be achieved. This involves differentiating yourself from other competitors who offer, for example, quality, optimal services and value to achieve the best results.
Create the perfect strategy
Points to consider in creating a proper branding strategy include:
- Having a mission statement and provide potential consumers with solutions to the needs to be met.
- Having a good communication strategy with which to publicize all the information, aspects and benefits of the company, product or services.
- Create in the consumer’s mind the credibility needed to make the decision to buy.
- Maintain an attractive proposition throughout the campaign, both in advertising and marketing.
- Have good brand identity development so that it is easily recognized by users.
- Have a clear corporate identity that promotes positioning and reputation.
Goals that an effective product branding strategy must achieve
Users’ perception of a brand is very important. That is where companies put all their attention. It is about creating a favorable image in the minds of consumers of your products.
The main goal of product branding is to improve consumers’ perception of the goods they decide to buy. It should be clear that a brand is an asset, a promise, and a set of perceptions. In addition, there are other important goals:
- Increase brand awareness, which is the metric that measures how and how much a brand is recognized by users or customers.
- Increase reputation and credibility to associate it with clearly positive aspects.
- Build trust.
- Position yourself in the minds of consumers.
- A brand with a consistent corporate identity will generate the best results.
According to studies, it has been determined that applying this strategy can increase sales by more than 32 percent.
Elements that make up product branding
There are many factors that must be considered when creating an effective branding strategy. But there are six basic elements that should not be missing from any plan designed to achieve the best results.
1.- The message or communication
The message is very important when it comes to generating the brand in the minds of consumers because it is what gives the brand personality. At this point, it is also important to check its tone, which must be consistent with the goal being achieved.
The communication of said product or service will be closely related to the brand’s mission and vision, as it will further enhance these aspects. Likewise, the message must be clear, concise and powerful, generating interest in the people who see it. In the digital world, one must always stay one step ahead of the competition, and this is where the channel also plays a very important role.
2.- Brand identity
Brand identity has to do with how the product or service you offer will be known. At this point you must have a well-established identity. From here work will begin on the graphic elements of the service or product. But the truth is that the central idea is naming.
From the naming also come other important aspects, such as the payoff that accompanies the product at all times, the one that is easily remembered by the customer. It must be interesting and contain a lot of creativity.
3.- Visual identity
This part is very important because it will be the customer’s first impression of the company or product, and it is what will stand out. This first contact between the customer and the product should generate emotions or feelings for which consumers eventually decide to buy the product.
It should be remembered that most of the information in this type of strategy comes through the sense of sight. This is where the greatest efforts should be concentrated to achieve the best results. The logo, colors, visual elements, typeface and images must go through a study process to determine which is the most appropriate to use to attract the potential customer to the company.
