You or your marketing team must consider factors such as your target audience, target market, value proposition, and brand positioning. When you understand these factors or hire a team that does, you can massively increase brand awareness with one project.
This guide will introduce you to some of the top targets for brand strategies. You’ll learn why each type of strategy exists, what it is meant to accomplish, and what businesses will likely benefit most from each approach.
1. Personal Brand Strategy
A personal brand strategy seeks to strengthen a brand on the power of a personal figure, often a celebrity. Brand strategies go much further than sponsorships or endorsements. They often involve long-term relationships where the figure becomes an identifiable “face” of the product.
One of the most famous personal branding examples may be Nike’s Air Jordan line. Nike has sold tens of millions of sneakers on the power of basketballer Michael Jordan’s celebrity. Jordan was a highly effective sponsor and managed to tie his credibility and unique identity to the products.
Why Choose this Approach?
Businesses may choose a personal branding approach to skip the hard work of developing a brand over time. Using this strategy, even a new product can build a strong brand by borrowing existing fame.
What Businesses Benefit?
Personal branding will be effective in niches where celebrity is a major factor in the minds of consumers. This may be the right brand strategy for products or businesses in the following niches:
- Sports
- Beauty
- Style
- Lifestyle
2. Product Brand Strategy
A product brand strategy focuses on product branding. The purpose of these strategies is often to make a single product instantly recognizable from its competitors.
The two soft drink superpowers, Coca-cola and Pepsi, are excellent examples of the value of product branding. The bottles and cans associated with these products can be recognized worldwide. Even when the design changes, the timeless colors, and logos are recognizable in any form and language.
Why Choose this Approach?
Some level of product brand strategy is necessary when you’re launching any kind of product. You’ll need to make decisions in the product design and packaging stage that will communicate your brand values even if you don’t mean to.
Any product you launch will benefit from some level of product branding.
What Businesses Benefit?
Any business that launches a product will benefit from better branding choices. However, product branding is most important when the product or its packaging will be doing most of the selling.
Most products sold in offline stores will be assessed by their look. Think of any time you’ve picked up a snack or drink you’ve never tried because you were attracted to the look, unique shape, or color palette. This kind of branding is meant to create that effect.
3. Service Brand Strategy
A service brand strategy operates in the same way as a product brand strategy, but it is focused on services rather than individual products.
Netflix is a good example of a company that has invested in service brand strategies. This company only offers one service (albeit at different price points), so the strength of the entire brand rests on the service.
Why Choose this Approach?
Service-focused businesses, including those with subscription models, can benefit from developing a service brand strategy. Anything you can do to improve the brand image of your services can promote more trust and sales as a result.
What Businesses Benefit?
Businesses that depend on the reputation of services should work to develop a strong brand. All of the following businesses are likely to benefit:
- Network service providers
- Server or storage companies
- Financial services and investment companies
- Banks
- Funeral parlors
4. Corporate Brand Strategy
A corporate branding strategy focuses on strengthening the identity of the whole business rather than an individual product. In theory, all products will benefit from a strong corporate brand strategy because even new products will benefit from the good reputation of the brand behind them.
Patagonia, REI, and other outdoor brands are good examples of strong corporate branding. These businesses sell products in a particular niche, and all of their products benefit from the general reputation the brand has for durability. Apple is another good example.
Why Choose this Approach?
Corporate branding is often effective in cases where all of your products belong to the same niche. Apple may sell many individual branded products (iPhones, iPads), but they have a reputation for electronics in general that makes people line up to buy new products that don’t have a reputation yet.
What Businesses Benefit?
Any business can benefit from a strong corporate brand. However, this is typically a long-term strategy that requires tight control of design and production. Industry-leading products are often necessary to cement the value of a corporate brand.
5. Online Branding Strategy
Online branding (or internet branding) strategies focus on creating and perfecting the value of a brand on websites, social media, and other online platforms. This often means developing a “voice” for content that showcases brand values or creates an emotional connection.
Amazon is a good example of a company that went from having no brand to one of the biggest brands in eCommerce. This giant positioned itself as the place to shop online for anything, and is still one of the world's biggest retailers.
Why Choose This Approach?
You should be developing an online brand if that is where you primarily sell your goods and services. When developed, an online branding plan can create an important level of trust that will encourage shoppers.
Even offline retail stores can benefit from some online branding if it’s a source of revenue. Online branding plans may focus on just the voice of social media
What Businesses Benefit?
Any business that sells online can benefit from an online branding plan. On a small scale, these plans can guide you through creating more interesting content to populate your profiles and content marketing strategies.
FAQs About Brand Strategies
Do you have more questions about brand strategies? Here are some answers to the question most frequently asked by businesses considering the right types of strategy for a successful brand.
What is brand strategy management?
Brand strategy management refers to the process of putting a brand strategy into practice. The manager or managing team will manage the goals and deadlines of the branding project and keep all the brand strategy elements moving.
Brand strategy managers often attempt to make plans easier for clients to understand through visual brand strategies and other resources that help teams collaborate.
What is a brand strategy framework?
A brand strategy framework is the blueprint for all the work you’ll do to develop your brand. It includes tasks, timelines, goals, and KPIs that you’ll be using to assess your brand-building work.
What is the difference between a brand strategy and a marketing strategy?
Brand strategies and market strategies refer to different types of plans. Brand strategies are long-term and focused on the viability of the brand specifically. Marketing strategies can include branding elements but can focus on any other goals (that may not include branding). A marketing plan may be very short-term.
Do You Need Help With Your Brand Strategy?
There are many different types of brand strategies you can use to create a unique brand. All of them can create powerful advantages for your business. Depending on your strategy, you can improve brand recognition or create excitement for a brand-new product line.
Our team can help if you want to upgrade the brand of your company, products, or services. Reach out for a consultation. We can discuss your needs and the branding you need, including others like offline branding, retail branding, and geographic branding.