Probably you have noticed that there are several companies competing for a single product. For instance, in athletic shoes alone, you will be able to count more than ten competitors. In the airline industry, there exist more than ten competitors in providing air travel services for travelers both inside and outside the United States.
How will you distinguish one competitor from another competitor? That is where branding comes into action. In fact, this is one of the important yet unappreciated aspects of marketing.
Before you will be able to understand the goal of branding, let us first discuss the branding on traditional conduct of business. It is an advertising method that is used to identify the products or services of a seller or a group of sellers and differentiate it from those of other sellers offering the same products or services. Establishing a brand for your own products or services will help you achieve the following:
• Deliver the message clearly to the public about your intention of marketing your products or services;
• Confirm your credibility as an independent and reputable seller;
• Motivates your buyer to patronize your products or services;
• Build a concrete and loyal clientele base.
In other words, the goal of branding is to give your products or services its own identity apart from other sellers offering the same products or services. You will only succeed in the investment you are into if you have established yourself as an independent and reputable seller through branding.
What are the consequences of branding in your investment?
• The brand of your products or services will rest with the hearts and minds of your clients and potential customers. This will influence the way they patronize your products or services that may even result in the expansion of your clientele base.
• It is what the people will remember about you. For instance, you have branded your pet products as “Pet Lovers”. Once the brand is consistently patronized by the people, you will be able to achieve success and your products will certainly have an edge over unbranded products.
As previously mentioned, branding is one of the most important yet the most unappreciated aspects of marketing, particularly in terms of web advertising. Since most advertising programs are focused on click-through rates (since it is the basis of earning through online-based programs), Business owners often neglect the important of branding in terms of marketing on the Internet. This is relatively unfortunate since the success of marketing is also dependent on branding awareness. In other words, branding is essential in promoting the brand of the product or services. Without branding, there is no sense that the product or services you are endorsing will be popular to your clients.
Keep in mind that your goal here is to earn money and not to lose any. Thus, it would be better if you will invest on branding-based marketing. It is easy to promote products and services that are already well-known to the public rather than unbranded ones.
However, you can also help building brand awareness of not well-known products or services that will help a lot in making your online advertising successful. Here are some of the strategies that you can use:
1. You may think of a brand name that will suit to the products or services of your clients. Such brand name must not be too formal yet too lousy to the eyes and ears of your clients. You may include interesting words that will produce the needed ‘twist” to the name of the product or service.
2. Since a brand is an intellectual property, you need to check with the Patent and Trademark Office (PTO) if the brand name is already taken by someone else. Once the selected brand name is still available, you will be able to apply for the registered patent of that brand name.
3. Once the patent has been approved, you need to consistently advertise the name so that it will gain popularity among potential clients. You may also suggest to the merchants that the brand name needs to be advertised through various programs over the net for more visibility.
Branding must not be taken for granted. It is one of the factors that will help you achieve success in marketing on the Internet. Keep it as your goal and stick with it along the course of your investment.