In this post, we share four branding tips on how your brand can multiple our company’s revenue.
1. Create an Authentic Brand Story
One effective marketing and branding tool is to think of marketing as a story. You can craft a brand story in several ways:
- Show why and how your products are created. Bring the consumers through the journey on the purpose of the product and what it is being created for
- Exhibit authenticity. Consumers want to understand how your product helps to make their lives better.
- Dive deep into these 2 questions:
- What does your brand represent?
- How is your product going to help others?
2. Allow for Brand Verification and Conduct Data Analysis
- Empower your consumers with the ability to verify your products and services. Show that they are getting what they are paying for – authentic high-quality products.
- Gather insight on how consumers reach your brand and products both online & offline.
- Enhance and optimize your supply chain so that products can be delivered to consumers in the fastest and easiest way.
- Through product distribution data, strive to attain supply chain visibility. This will help to prevent counterfeiting which has a direct negative impact to your brands and earnings.
3. Branding Through Consumer Engagement
- Allow consumers to get information about your product and services easily while providing easy ways for them to engage with your brand. It can be in the form of the following:
2) If you are using QR codes on your product, your marketing message should be compelling enough to get consumers to engage with your QR Code. It could be something as simple like obtaining more information about the product, or more engaging content like lucky draws, coupons, or videos.
3) Attractive packaging. Your packaging is a powerful silent sales-person in stores – 53% of shoppers say bright colours draw attention to a product.*
4) Incentive programs. Create a loyalty program so that consumers would think of your brand whenever they need to purchase something in that product category – 90% of shoppers are more likely to buy a product with instant discounts.*
- Plan for a Seamless engagement.
Use technology to allow consumers to purchase your products or services both online & offline. Create an omni-channel, allowing your consumers to purchase the products whenever and wherever they want.
For instance, if a consumer saw one of your products in a retail store but not in her colour of choice, she can simply choose to purchase her desired colour instead from the online store right from the retail outlet
4. Intellectual Property and Licensing
- Your Brand is an Asset. You can protect it by using brand protection solutions, or by registering it as intellectual property. Registering a trademark for your logo and brand name in the market you want to venture into helps to pave the way for licensing. With licensing, additional streams of revenue in terms of licensing fees for the company will be observed.
- Some tips for licensing:
2) Limit licensing partners to small number and segregate them in terms of product category or geographical locations.
3) Implement training programs to ensure and monitor the standards of all development and marketing of your licensed products.
4) Build, protect, and manage your brand and its value. It is worth the time taken for it.
* Survey done by Brandpackaging.com – How Shoppers respond to packaging, labelling on a crowded store shelves.