Coca Cola recently dropped their $4 billion advertising campaign for a new average of $2.7 billion per year. Getting your brand and name out in the public eye is clearly a top priority for any business. However, a brand personality can make all the difference.
Why is branding becoming so important, when companies can just invest in normal marketing tactics. Well, building a strong brand voice means consumers not only learn about your product or service, but also the purpose that drives and motivates your business. Instead of customers just buying a tangible item or service, they get to feel like they’re part of what some might consider a family or movement.
Many products, for example, can climb in value almost exclusively because of the brand it’s attached to. To get a better idea on how this works, take a quick look at some branding strategy examples below.
A Look at Branding Strategy Examples
Different approaches will work better for certain brands, depending on factors like service, product, and target market. And, due to the commonality of market saturation, each company has to find a way to stand out. Some use shock and awe, while others display consistency and slow growth to entice long-term investors. Some great examples include The Boring Company, Apple, Lamborghini, Gatorade, and Bored Ape Yacht Club.
The Boring Company
Elon Musk’s The Boring Company took brand positioning to a new level. Instead of flashy advertisements and the use of FOMO for consumer involvement, they let organic growth take the wheel. The business started with simple items and slowly developed into a business aiming to solve traffic problems. It was clear from the start that they weren’t looking for profits. One way they gained traction was through the sale of flamethrowers; something that’s controversial to this day.
Apple is often used a centerpiece for discussing branding and marketing. For example, they paid psychologists and scientists millions to figure out how to make opening a product box more satisfying. The company meticulously plans every step of the purchasing process. Their brand, however, tries to communicate that they offer the best of the best. You can also read how they use press releases to draw in both customers and investors simultaneously.
Lamborghini, due to its entry price, has a limited target market. So, they found a way to grab people’s attention. Every day, a few people become a millionaire. Lamborghini’s approach, then, is to cater to those top earners. The first thing many people do when they get rich is to buy a Lambo!
Gatorade has a simple brand voice. They put their product in the hands of the most famous athletes. The idea is to bring a broader audience onboard through a promise of hydration and performance. It’s fantastic considering the popularity of sports across the globe.
Bored Ape Yacht Club
As one of the most recent businesses to climb to the top, Bored Ape Yacht Club is an NFT project that caters to individuals looking to be a part of something bigger. Purchasing a Bored Ape means you form part of their club. Members get to partake in yearly yacht trips, mansion parties, and meet with what some would consider important people around the world.
Branding and Marketing
From newspaper articles to Google ads, companies are always trying to find ways to reach their target market. One thing they’re getting wrong, though, is focusing on marketing spending instead of building a brand identity. The branding strategy examples above show that there’s a lot more to creating a successful business marketing strategy than lofty expenditures. It’s worth it to invest in brand values to communicate a greater message to an audience.
Hopefully this article provided some great information for you regarding branding. If it did, consider taking a look around the site for more useful content!