It takes anywhere from five to seven exposures for someone to recall your brand. And in a world where the average person sees an estimated 10,000 marketing messages every day, you need to stand out and be remembered.
Product branding is one way to do just that. Product branding is the use of a name, term, design, symbol, or other feature to identify a product and distinguish it from those of other producers.
But for your brand to be successful, your product branding strategy must be a well-thought-out and integrated marketing plan. It must include other elements such as market research, target markets, positioning, etc.
This blog will explore how to create an effective product branding strategy.
Define Your Product
What are you selling? And what are the features and benefits that make it unique? If you can’t answer these questions, you can’t develop a strong product brand.
Start by writing down everything that makes your product different from others on the market. These are your unique selling points or USPs.
Once you have a list of USPs, highlight the one or two that are most important to your target market. These are the features that will be the focus of your product branding strategy.
Next, you need to decide what kind of image you want your product to project. Do you want it to be seen as luxurious and high-end? Or affordable and budget-friendly? The image you choose should align with your USPs and target market.
Finally, come up with a name for your product that reflects its image and USPs.
Research Your Competition
Before you can start building a brand, you need to understand what your competition is doing. Research their product branding strategies and note what’s working well for them.
You can also learn from their mistakes. What are they doing wrong? And how can you do it better?
Your research should also extend to your target market. Find out what the potential customers want and need from a product in your industry. The answers you get will help you determine the positioning of your product brand.
Develop Your Positioning Statement
Your positioning statement is a short sentence or paragraph that summarizes what your product does, who it’s for, and what makes it different.
Your positioning statement will be the foundation of your product branding strategy. It will guide all of your branding decisions moving forward.
Here’s an example of a positioning statement:
“Our luxury skincare line is for women who want to feel confident and beautiful. We use only the finest ingredients, and our products are backed by a money-back satisfaction guarantee. ”
As you can see, this statement concisely sums up what the product is, who it’s for, and what sets it apart from the competition.
Brand Identity
Your brand identity is how you want your customers to perceive your brand. It includes your name, logo, tagline, and color scheme.
These elements should be cohesive and convey the right message about your product.
For example, if you’re selling a luxury skincare line, your branding should reflect that.
Your logo should be sleek and sophisticated, and your color scheme muted and elegant. Your tagline should be aspirational yet achievable.
If product branding is something you’re interested in pursuing for your business, it’s important to work with experts in building brands. They will be able to create a strategy that covers all the bases, from brand awareness to customer loyalty.
Create an Effective Product Branding Strategy
Product branding is a powerful marketing tool. But it’s only one piece of the puzzle. To build a strong brand, you need to have a well-defined brand strategy. This strategy means understanding your target market, building brand awareness, and creating a unique identity that sets you apart from the competition.
With a solid product branding strategy in place, you’ll be on your way to success.
