In Part 1: Top 10 Mistakes to Avoid When Branding, we confirmed that the process of building a brand was not an easy one. While all that is true, we also stressed the importance of branding since it gives your business a face and is very instrumental in the success of your business.
Continuing on with the list from All Business of top branding pitfalls, mistakes 6-10 are:
The first 5 mistakes are more general and deal with the overall process of branding, while the last 5 mistakes are more specific to how you should brand your business. Understand that branding is a timely process, but well worth the efforts in the long run. Look at brands such as Apple, Nike, Coca-Cola, and the value they have built. Keep those examples in mind as you establish and maintain your brand.
On a positive side note, know that social media can be very useful in branding efforts. It can help you establish, monitor, and maintain your brand. When trying to choose a form of social media to use, locate your audience and find out where they are most active.
What do you think the most challenging part of branding is?
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Trackable Advertising
It seems as though there is less branding going on in the advertising world right now as more products opt for trackable direct response advertising like pay per clicks or mobile marketing. With budgets down, marketers must concentrate on creating sales now rather than building a brand image.
Re: Trackable Advertising
Brand spending has switched
I think that branding money has switched rather than moved to direct sales promotions. Previous advertisers have moved there efforts to more viral platforms. This includes social media as mentioned in the article, but also includes venue and event sponsorship, particularly in music. Also note that prices for sports sponsorship continue to increase, even as traditional advertising suffers a decline.
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