Business

Tips on Indentifying the Most Successful Branding Strategy

Have a seafood bistro in Brisbane? A crypto company in Melbourne? A volunteer network in Perth? Whatever your business, branding will decide its fate. In Australia, more than 60% of startups fail within the first 3 years due to inappropriate branding and marketing strategy.

Branding is a comprehensive concept that includes developing the theme of your website, creating a brand identity through your products and services, promoting your brand through strategic marketing, and much more. Though there can be multiple ways to market your brand, some tips can help you identify the most successful branding strategy in Australia.

Louder Voices, Lower Prices

Being heard is the primary goal of brand marketing. Even if you have a low budget to spend on branding, you can dominate the market with an overboard marketing strategy. Playing outdated jingles, using bold colours, and going crazy with your price-drop alert can lead to word-of-mouth publicity. The more you trigger discussion, the better your brand marketing works.

Beat With Discounts

Why should people buy from you? That’s the foremost question to answer while planning your branding strategy in Australia. It will help if you put on something for them to feel dragged and give a worthy try. Well, even if the quality of your products is no different than your competitors’, offering substantial discounts can entice people to be your customers. Publish your campaign highlighting the discounts you provide. Buying the same product at a cheaper price is a great incentive.

Reward Loyalty

Getting new customers is difficult, but retaining them is the trickiest part of brand marketing. Customers stay loyal to you if they get it paid back. You can show gratitude to your repeat customers by giving them loyalty points with every purchase. Accumulating these loyalty points, your customers can make a full purchase without paying a single penny. Loyalty points also encourage them to buy more from you to reach a value that can be encashed. This way, you can gain your customers’ confidence and retain them faithfully.

Divide and rule

Every business has target niche customers in view while creating their business model. A business cannot target both the rich and the poor at the same time. Yet if you want to cater to the mass, not the class, developing separate brands under the same roof will be the best choice. You’ll then be a company that makes rich dry fruit cake for the elite customers while the same business that brings to the market choco-chip muffins at a far cheaper price.

Give Authority

Customers like to control their fate. If you’re struggling hard to win their trust, give them the key to explore your service and test it themselves. When they feel empowered, they are more likely to leverage their authority and eventually gain more knowledge of your business. Their testimonials build your goodwill and create a strong foundation for your brand in the market.

Takeaway

Branding strategy in Australia is a framework of your probable branding methods based on some educated assumptions. There are possibilities that your brand marketing may not achieve predictable results in one go. Never hesitate to trust the trial and error model to decide which strategy works best for you. Even if it fails, revisit your marketing plan and improvise it to come up with a better one.

 

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