There are competitors in every product. Some people start with a unique idea but the next one succeeds beating the first one in the same business. So, here comes the concept of Branding. Branding is one of the important marketing techniques which ensures your success in the long term. Branding differentiates your product from the other hundred products which are same as yours. The word, ‘brand’ is not only associated with visible things. It has a deep connection with the emotions of a customer. Branding lets people know what is there in your product and what is not. It gives consumers the idea of what they’re going to buy. If your branding is done well, you win loyal customers.

Types of Branding

There are many ways to do branding. Some of them are given below :

Corporate Branding
In this type, it is tried to convey to the consumers that the company cares for its customers and take responsibility for their product. So, people trust the brand value when they buy their products.

Personal Branding
Nowadays, we see a lot of influencers around us trying to create their own brand through personal branding. In this type, a person creates an image of himself/herself to be seen by the world. This is crucial for public figures.

Geographical Branding
In this type, the product is branded by using some specific features of a particular geographical location. For example, ‘Rosogolla’ is a famous dessert of Kolkata, India.

Product Branding
Here, the product is advertised with a particular logo or slogan. In some cases, it is promoted focusing on a particular ingredient of it. We all know how people are attracted to the logo of Apple.

Co-branding
Here, two different companies collaborate and use each other’s brand value to succeed together. Suppose, when we book a cab from a particular cab booking app and get a discount if we pay through a particular money transfer application; co-branding comes there.

Service Branding
It is when a company decides to offer a unique service that its competitors are not offering yet. It can be a free gift or cashback or addressing the consumer’s complain in a shorter period of time than its competitors.

Apart from these, there are online and offline branding. Also, there is a type of branding where the product is promoted with reference to a social cause.

Why Do Your Business Need Branding ?

1. Branding gives you the power to reach out to more people. A good brand automatically attracts consumers. It also helps you to get new customers and win the trust of your existing customers.

2. Branding increases your value in the stock market. People prefer investing in a brand rather than an unknown organization.

3. A brand gets a good workforce easily. People feel comfortable joining a branded company because they feel it safe, secure, and trustworthy.

4. Branding helps you to stand out among the crowd. If you have your brand value, you don’t have to bother about each and every competitor of yours. Branding is an integral part of a company’s success.