If water can be commoditized and rendered taxable in a world, I believe that anything in this world may be sold. That’s called the power of branding.
So, it’s not over yet.
Don’t let your brand bleed to death. Don’t give up. Your brand can still rise to prominence and achieve market dominance. If the buyer decision-making process is changing, then establish an appealing brand. Give your brand a voice, an image, and a personality, because a brand that speaks is a brand that lives.
To connect with me, click on the link (Ajay Adlakha)
Awaken all of your brand’s senses; your audience is practically waiting for the connection; you have to abide by just a few laws and you’re set to go. Remember defining your brand strategy is crucial to building brand identity.
Let me spill the 9 Actionable Laws of Branding
LAW OF SPECIALIZATION
People are constantly seeking specialists and not generalists. Thus, describing yourself in a wide and generic light will not help you develop a lasting business. Focus. Don’t be all over the place.
It’s amazing how McDonald’s expands but just in the burger category, whereas Domino’s expands but only in the pizza category. Both of these brands never attempted to imitate their competitors’ offerings, which allowed them to target the audience and turn them into devoted customers by leveraging their specialty.
LAW OF QUALITY
The quality of your brand is reflected in the mind of your customer. You need to set up the authenticity of your product in the psyche of customers. The numbers won’t convince your customers but a creative way of understanding can.
Your product’s branding and loyalty act as a reciprocation for the steady growth of your efforts.
For instance, consistency in the durability of Nike shoes aided its buyers. As their shoes possess features like good quality, design, and comfort. Customers can rely on them in a long run.
LAW OF PUBLICITY
Are you at Tim Hortons yet? Let me tell you, it’s really crazy.
So, one time, my daughter and I went to Tim Hortons for coffee, and I was astonished to see the crowd go crazy over it. They’d all waited all day for just one cup of coffee at the Select City Walk, Saket store.
And it’s important to mention that it was the first time that Tim Hortons, a Canadian global fast food restaurant brand, has officially entered the Indian market, with its first two sites in Gurugram and Saket in the national capital region.
Well, publicity works far better for a brand than advertising. It is the way to build a name for your brand. Being first in the category can create a buzz around your brand and is considered one of the best approaches.
LAW OF ADVERTISING
“It is the tax you pay to stay relevant.”
So, in order to avoid becoming forgotten in a crowded market, it is critical to repeatedly establish your brand in people’s psychology to generate brand awareness.
Advertising has proven to be fairly efficient in reaching out to more potential customers and developing an emotional connection with them while also establishing brand identification. Advertisements should be viewed as a defensive strategy by business owners and ensure that the brand stays healthy.
LAW OF LEADERSHIP
Do your customers get the product in their minds when your brand name is spoken? Because the Law of Leadership in branding is all about this.
Your category is all that matters to a consumer. A better view comes to light with the example of Dell. Whenever there’s a talk about Dell your mind is dropped to the laptops or computers. This is what you need for your brand to get recognition.
The prime focus on one category will spell the value of your brand. Nurture that one category with innovation.
LAW OF NAME
What do the customers call you for the products/services you offer? It’s the experience they’ll gain from your product. While planning brand strategy, brand positioning is one of the goals, hence, the name of your brand should be the first thing to occur in your target audience’s mind.
A brand’s name is built based on the difference that’s created in your customers’ life with your product. A human mind can grasp the sense of satisfaction before a name. A brand name must make them recall the experience they can have using the product.
The uniqueness of your Product Quality = Your Brand’s Name
For instance, Walt Disney’s Disney Entertainment is the leading prototype for understanding this. The name is reminiscent of fun and naive entertainment. Your favorite Mickey Mouse, Cinderella, etc. are born from it. Disneyland is the most coveted spot in the world. ‘Disney’ made its name as a brand with unique fictional entertainment.
The synopsis leads toward the difference between this brand’s name & its identity.
Does 24SEVEN, the utility store need any explanation for its existence? Doesn’t the name speak for itself?
Hence, a brand name must come to justify its identity and what it sells.
LAW OF PERSISTENCE
In the long run, the volume of your sales and revenue will be determined by the variation of your product and your ability to maintain consistent communication for years.
It’s a famous saying, “speak the same language over and over until the world starts believing it.”
Also, the growth of any brand takes time. You must be eyeing the evolving requirements of your existing and new customers. Focusing on enhancing the USP of your brand will work for the durability of your brand’s name.
Your Brand’s Persistent Growth = Constant Innovation & Experimentation.
Changing times demand determination to change themes, designs, color, trends, varieties, techniques, category- expansion, etc.
Apple set a perfect example for this. Steve Jobs opted for a simplistic approach to add Innovation. All of the products of Apple are unique, effortless, and user-friendly.
With the technology trends and changing customer demands, it is launching new categories & products every year. This is real proof of their problem-solving consumer product. And this will sustain their customers’ reliability on them.
LAW OF FELLOWSHIP
Healthy competition with similar leading brands might be a plus for your own business. The benefit of your & your competitors’ products will serve your customers. Every branding needs customer satisfaction. This can inflow innovation and raise the bar of consumer happiness.
Let’s say, Coca-Cola & Pepsi are among the top competitors of Cola. If a customer gets two varieties of the same category, the comparison is feasible. Your customers get the right to choose the best within a similar category of the product. And you get the opportunity to improve and innovate further your brand’s performance/growth.
LAW OF THE COMPANY
This law makes it clear that your company’s name is overruled by your brand’s Name.
To make it simple, we can take the example of Unilever Limited. It’s an umbrella company with the leading brands of the world. However, customers remember this company due to the brands it holds today.
Brand Name > Company NameAll the customer segments count on brand names prior to the end of the company’s name. Thus, it is directed towards the saying “Brands are brands, companies are companies”.