Before you can understand the basics of branding, you must learn about the different types. Different types of branding are used depending on your goals. Believe it or not, one company can use multiple types of branding if they are cohesive and can help you reach your business goals. Here are some of the different types of branding that might work for your business.
1. Corporate branding
Corporate branding includes every aspect of the business, including products, services, employees, and more. As a result, your corporate branding plays a huge role in your business reputation. Rather than focusing on one aspect, like your products, it focuses on the business as a whole. Good corporate branding focuses on the unique selling points (USP) and value proposition of the business as a whole and includes the creation of brand guidelines to cover the ways you'll communicate those selling points with customers and the public.
Corporate branding affects more than just your marketing and sales efforts; it can improve your hiring strategies and help you find partners. With good corporate branding, you can attract top-performing candidates because they know your brand's values and understand how they'll be treated within the company. It can also help you find business partners and investors by establishing where your company stands in the marketplace.
2. Personal branding
Personal branding is how a single person brands themselves. Personal branding is best suited for self-employed individuals like freelancers, affiliate marketers, or influencers who must develop a personal brand identity to stand out from the rest. Personal branding can differ from your personal image. Who you are through your business doesn't have to be the same person as you are in everyday life.
Personal branding allows you to specifically target a niche and leverage any existing fame you have to earn more business. When using personal branding to establish or grow your business, consider how something in your personal life can affect your business.
3. Product branding
Product branding is one of the most well-known forms of branding because it's done for single product lines rather than the entire business. Every time a business puts out a new line of products, they do branding for just those products because they may have a variety of products with different price points, benefits, and end users in mind.
When considering how to brand products, always consider the end user and customer journey. You may also need to perform a competitive analysis to see how competitors are marketing a similar product. Ultimately, if you want to be successful at product branding, you must solve a customer's problem in a unique way and advertise your solution to them, taking a different approach than your competitors.