Setting up a brand name is not the end of the path, but the initiation of a new and relentless brand growth journey. We at Studio-360, the best advertising agency in Delhi/NCR will advise you that there are these routes which you can drive your brand growth with:
- Progress within subsisting markets
- Grow into new markets
- Promote and market new products with effective advertising
Your brand’s growth strategy would depend upon the route you prefer, but there are some universal brand growth tactics that you might find suitable for your brands.
Make a Difference; think out of the box-
If you’d like to expand vertically, you need to outdo your rivals. This can be done by developments in product packaging, operation, repositioning, marketing approach and distribution, to name a few. If you want to stop commoditization, your “new” must be innovative and distinct from your rivals – note that they’re still aiming to diversify. It must also add value such that the consumer is willing to jump ship and shift to your brand.
Optimize the Passage
Distribution impacts brand loyalty in two ways –
- It makes your brand more approachable
- It improves brand awareness
These components influence conversion, but if you have a rare commodity called an independent brand, the reverse will hold for you.
The point here is that it is critical to assess the ease of access you want for your brand to a spectrum that ranges from too available to unavailable, and your product and other market factors determine this.
Distinguish among Visibility and Access
Like the phrase goes out of sight, it’s out of view. Consumers have limited memory, and if they don’t see your stuff, they will switch to your rival. And if you chose not to be available, you must always be visible. Your product may not be affordable, but it must be seen and understood by your target customer.
Broadcast Your USP
It is not enough to add value to your product & to ensure this; your marketing efforts must highlight your brand’s differentiating factors. Your USP may be anything from a more economical price to sentimental value. For example, OYO is about app-based low-cost boarding while Cadbury which says Kuch Acha Ho Jaye.
All your marketing purposes and consumer touch-points must showcase your USP and create apprehension and desire.
Justify the strategy
This might not qualify as a brand growth strategy, but it is essential, nonetheless. If your product does not meet the perceived value of your product, it won’t sell. Your branding efforts might generate desire, but if even one customer perceives dissatisfaction, he will walk away and take at least two with him. When you highlight your USP, assure that it justifies the price tag and fulfils your brand engagement.
Build upon your Brand Assets
It is essential to invest strategically in the brand properties with a specific target of brand growth in mind. Using your brand properties, intelligently helps the client imagine your brand’s quality and confidence while communicating and connecting with customers. For example, you can use your logo as your Facebook page cover and use a similar colour scheme to make an image for your Instagram or Twitter handle. Integrating your assets in this way would create knowledge, cause recognition, desire, and ultimately convert.
Since digital marketing and e-commerce are now expanding, that is not enough to make the brand noticeable. It must be prominent over all other brands – particularly your rivals – that is to say, being noticeable or salient should be an essential part of your growth strategy.
Brand growth plans are not all about reaching potential customers at random. The method includes writing up and systematically executing a carefully thought-out strategy. It is essential to be clear and faithful to your offering, brand and value proposition, no matter what approach you follow.
Studio-360 is a branding agency in India that offers all types of branding and growth services to large and small organizations.