• Names or symbols that identify the unique source of a product or service
• The personification of an organization, product or service
• The source of a promise to the customer
• A trust mark
• A single concept or idea embedded in the mind of the customer
• A set of associations that enhance or detract from the related product or service
• The source of customer loyalty
• That which allows one to charge a price premium for an otherwise generic product or service
• A unique value proposition
• The source of emotional connections with customers
• The primary source of customer ‘goodwill’
• That which should drive the design of the ‘total customer experience’
The New Way Branding is no more similitude to a logo design, naming and differentiation. The Modern Era Branding is all about Branding your own Stakeholders along with your own Enterprise. Branding has evolved eventually and taken up a huge space in the virtual world.
New Way Branding emphasis to socialize increasing the friends list and Group members across Linkedin, Facebook, Twitter and other such Social Networking sites by being cock-a-hoop for your Enterprise or the product on which you want to expand efforts.
This social Media revolution also is a backbone for your Online Digital Advertisement as well. It also hastens the visibility and Search for your Enterprise or Product in the virtual world peculiarly in case of a new product launch, new business development Scenarios.
Business is a limb of society. New Way branding is centering society before long. It makes a point that the Brand does not effect the Society bruising the environmental laws. There is an ex cogitation of Going Green considered by newfangled Brand Managers these days also chipping in Corporate Social Responsibility.
The New Way Branding focuses Innovation. Brands are not built, they get produced over the period of time. Apple products exemplify that Innovation automates Branding. Innovation creates a viral, buzz or positive Word of Mouth advertisement for the product and here is where you get a Brand leverage with least cost. This though follows by customer satisfaction blended with excellent Customer Relationship Practices (again one modern way to enhance Brand value).
Let me touch base upon some of the best Customer Relationship Practices to build Brands. Customer is the center point of focus for any Business. In this case it is authoritative and imperative that your Enterprise builds relationship with customers unremittingly by increasing the customer involvement in decision making, maintaining proper customer database, communicating with them time and again on new products, launching Mail Campaigns wishing them on special occasions Etc.
These days companies also use adavances CRM applications as Siebel CRM, Salesforce, Oracle CRM Etc. to maintain and track the customer data at each stage of the sales cycle. This data is also useful to the internal customers to a large extent. These applications are advanced to the extent that it also enables to manage your channel partners automatically and available for different verticals as Public Sector, Insurance Etc.
Brand Managers have moved from intentional branding to holistic branding using integrated 360 degree communication tools as Web, Media Vehicle, Corporate design Employer Branding, Sponsorships and Trade promotions, Customer Branding and Involvement Etc.
Over the Years it has been observed that Honesty is the best policy. It is mandatory for a wise marketer to be transparent to the target audience. More is the Brand open to accept the lacuna, stronger would be the positioning. It should be noted that profit is not the sole objective of any Brand. Customer loyalty can not be generated solely on Cards but on how transparent association a Brand shares with its customers.
Thus, the new way of branding comprises best CRM practices, Innovation, Optimum utilization of Social Media, Customer Engagement, CSR, Integrated Branding and use of advanced IT applications and Software.
Warm regards,
kinshuk.
