BRANDING VS PUBLIC RELATIONS – ARE THEY INTERCONNECTED?
Branding is all about promoting a product. PR experts advertise and market their products. The fact that Coca Cola is so famous is because the campaigning of the product is such where people are deliberated to drink Coca Cola besides having apple pie, watching baseball, and with other American brands.
You can get guaranteed customer loyalty and higher sales for a product or service when branding and PR work together.
Importance of Branding in 2020
It is wrong to think that branding is highly inconsiderable to the grand scheme of marketing. It is only important for the metric success in branding otherwise the term is overstated.
This becomes a grave misconception for small and medium businesses where they do not feel the need to promote their brand because they just don’t have the time and resources to do it. Proper branding of the product can set the business for life as it can set them apart from the generic competition.
Here are the ways branding can make a difference for any business:
1. Branding Sets Value
The symbolic representation of a brand is called a logo. Logos are the meaning behind the brand. It is what a customer expects to think and feel when he/she holds the product.
2. Branding Conveys a Message
The most important thing that goes into the mind of a customer is the message that the brand is sending. It is the most real thing that crosses the customer’s mind even more real than what the brand says.
3. Branding Connects Emotionally
The emotional connection must be bred well with the customer. A better response can be observed when humans connect emotionally with someone or something. Loyalty can be earned through branding which is the greatest weapon for a businessman.
4. Brand Defines Expectations
Expectations are set when a brand fulfils its criteria and thus the customer wants the next version of it even better than the previous one. If the brand consistently delivers the same fulfilment to the customer, the brand delivered the defined value.
Having Right Brand Promotion Strategy
Although branding may be the most incredible weapon you can use to build a business, however, if not done properly the plan can recoil or backfire as well. Hence it requires a well-planned, data-based, targeted brand campaign. Remember that the customers will look for relevant information through your brand so first and foremost it should be viable and reliable.
Hence below are the four best strategies that should be leveraged in market-facing campaigns:
1. A New Brand Development
Building a completely new and unique brand can be time, effort, and creativity sensitive, however, it should be done at the right time and place. Another reason for branding is for the betterment of the existing product. However, it does not mean the refurbishing of the existing product rather releasing something completely brand new.
2. Branding for Product line Extension
Summiting the established brand in such a way that reflects a brand’s new approach towards the existing product. This is known as product line extension branding. It exists within an established product line, or within a category of product that is already related to the brand.
With considerable research and careful in-depth analysis of customers’ preferences, the product can entice thousands of people. You can also go by the trend of society during that time.
3. Multi-brand Branding
A subdivision of the product line extension branding, multi-brand branding is very similar to the former. The only difference being the number of brands being promoted at once in multi-brand branding exceeds that of product line extension branding.
By limiting the amount of shelf space due to the increase in the number of product facings on a given store, this strategy often benefits the business if the competitor loses its market attainment share.
4. Brand Extension
With the sole purpose to increase the market’s understanding of an existing brand, Brand Extension could signify the increased amount of branding campaigns and advertising campaigns.
Branding Vs Public Relations
The major objective of branding and PR is to create customers’ interest in the product. These two go hand in hand for the overall business approach of doing everything possible to market and sell something.
Synopsis
Branding and Public Relations are two different approached with common goal of marketing and earning value of its products. If you’re looking for a reliable branding and PR partner, you can count on Magnoliamc as we’re one of the pioneer offering results-driven PR services in Vancouver.
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