How Innovative Branding Can Help Your Business?
Last update: 28 December 2021 at 11:40 am
5.00/5Innovative branding is a way to help your business stand out from the competition. Businesses can be innovative by using new products, new ideas, new messages, and new designs. If you can create something different from what everyone else is doing, then it will help you stand out.
A great example of this would be Apple’s new logo which was released in September 2013. They changed their logo to make it more modern looking and went against what everyone else was doing at the time. They wanted their design to stay innovative for years to come, and they managed just that.
What is Innovative Branding?
Innovative branding refers to the process of applying innovation to the branding of a company. Companies are constantly looking for ways to make their brands stand out, and innovative branding can help with this. This process can be done with any media, but it’s most effective when it’s done with digital media.
What Are Some Examples of Innovative Branding?
There are many examples of innovation and branding. Some of these include:
- Social media for brand promotion: Social media has become a very important part of life for many people worldwide, and it’s a medium that companies use to promote their brands. It allows for instant communication with customers and has given rise to social media influencers who help promote brands through their social media posts.
- Augmented reality (AR) for marketing: Augmented reality (AR) is growing. This is because companies find new, unique ways to incorporate this technology into marketing campaigns. It allows people interested in a product or service to experience it before they buy it by using AR.
- Virtual reality (VR) for marketing: Virtual reality (VR) can also be used in innovative branding campaigns. By using VR, customers can experience products differently by being immersed in them by using VR headsets or other VR technology.
- Social media influencers: Social media influencers have risen in popularity over the past few years. They have become more accessible to brands looking for ways to market themselves onlines using ambassadors.
- Developing e-Commerce websites: E-commerce websites offer businesses opportunities that brick-and-mortar stores don’t provide them with. This is because they allow them to reach out globally through one website instead of having multiple locations around the globe. It also gives them opportunities for 24/7 sales instead of being limited by store hours.
- Video marketing platforms like YouTube: Video marketing is everywhere as it’s an effective method that gives businesses opportunities to reach new audiences while connecting with current ones.
- Creating mobile apps: Mobile apps give companies direct access to potential customers through smartphones. Users can download these apps anytime and anywhere without requiring users to make purchases at stores first.
Why is Brand Innovation Important?
The goal of brand innovation is to create a brand people want to be associated with. A company needs to keep up with the latest and hottest trends and be at the forefront of what’s new in the market. If not, you risk falling behind and losing out on opportunities.
Different Types of Branding
There are several major types of branding, each with its characteristics and advantages. Here is an overview of two of the most popular ones.
If you ever require any help with your company branding, many businesses have outsourced their work and turned to qualified branding agencies who usually have the most innovative branding ideas.
Product Branding
This type of brand is centered on the actual product itself. For example, Apple logo, Nike swoosh, Coca-Cola script, Ford oval, or the Starbucks mermaid. Product branding is great because it can be used in all marketing campaigns and activities.
Services Branding
Also referred to as service mark branding, service-based brands are based on the service provided by the business rather than the product being sold. This type of brand usually includes a logo symbolizing what it stands for and some text describing what services are available from the business.
An example would be FedEx’s trademark “FedEx” written in their distinctive orange color along with their logo symbolizing them as couriers or delivery services (two packages wrapped together with an arrow pointing right between the ‘E’ and ‘x’).
Implementing an Innovative Brand Strategy
In a world where product life cycles are shortening and customer expectations are skyrocketing, it’s more important than ever to innovate your brand strategy. To do so, you need to clearly understand your brand’s identity and how it fits into the marketplace.
Your brand identity should be the driving force behind your innovative strategy. The more concrete and well-defined your identity is, the better you’ll be able to innovate.
Once you understand who your customers are, it’s time to define what sets you apart from competitors. If you’re not sure what sets you apart from competitors, look at your values and see if there’s something that differentiates them from the competition.
How Have Innovative Brands Succeeded?
The world today is more competitive than ever. More and more people are vying for a spot in the limelight, and it’s getting harder to get noticed.
Innovative brands have been successful because they’ve set their sights on the future and have been able to create a place for themselves in a sea of competition. Let’s look at some of the innovative brands that have managed to find success in the cutthroat world of business.
1. Tesla
Tesla is one of the most innovative brands in the world today. Its founder, Elon Musk, has managed to leverage his company’s immense popularity into a market share that will soon be dominating the global vehicle industry. The future is bright for Tesla, especially if Elon Musk continues on this trajectory.
Our Tesla SWOT analysis can give you a better insight into just how far Musk has been able to take his company.
2. Google
Google is one of the most influential brands in the world today because it has managed to set itself apart from its competitors with its innovative search engine technology.
It has also created revolutionary products like Google Glass that change the way people live their lives every day. Google will likely continue to grow as time goes on because it always seems to be one step ahead of its competitors.
3. Netflix
Netflix has managed to create a niche for itself in the world of television and film. It has created original content unlike anything else on television, and it boasts a large and loyal following.
Netflix may not be the largest streaming service globally at this time, but it seems poised for growth as more and more people flock to it for its original content. Check out our article on Netflix’s marketing strategy to get an insight into their success’ secret or maybe create your own streaming service.
4. GoPro
GoPro is an innovative brand because it has a defined role in the growing action camera industry. The company’s cameras are designed to record extreme sports, which means they’re waterproof and shockproof.
GoPro is one of the most innovative brands today because it has managed to create a loyal following by offering something different from its competitors.
5. Airbnb
Airbnb is another innovative brand that has set itself apart from its competitors by offering something unique from other hospitality companies. Airbnb offers travelers the opportunity to book stays at their favorite places around the world without having to pay exorbitant hotel prices.
The company manages this by partnering with homeowners who have extra space they want to rent out while away so they can make some extra money on top of their regular income.
How does Airbnb manage to do so well? We wrote an article about that too. Here’s our post on Airbnb’s marketing strategy so you can find some inspiration!
Improvising Brand Strategy
Improvising a brand strategy can be seen as challenging oneself and taking risks that no one might otherwise take. In the realm of improvisation in a brand strategy, there are two types: one being emergent improvisation and the other being opportunistic improvisation.
Emergent improvisation is when an idea or solution arises from the moment, while opportunistic improvisation happens when you take advantage of an opportunity.
FAQs
What Are the Most Innovative Brands?
Many people believe that the most innovative brands are the ones that are out of the ordinary. For example, Toyota is considered an innovative brand because they are always coming up with new ideas. Another example is TOMS Shoes, which was founded on donating a pair of shoes for every pair that gets purchased.
Why Do Brands Need Innovation?
Innovation is important for any brand to stay relevant in the current marketplace. With so many companies vying for consumers’ attention, brands need to be innovative and creative to break through the noise. Not only does innovation help generate buzz and excitement about a company, but it also helps them stay on top of trends and remain competitive.
What Are the 5 Branding Strategies?
It is important to consider all of the branding strategies before deciding on a final one. There are five branding strategies:
- Identity: This strategy focuses on the company and what makes it stand out from others. This strategy may be appropriate for companies that want their customers to identify them with a certain lifestyle, such as luxury or eco-friendly.
- Reputation: This strategy aims to build a positive reputation for your company by providing excellent customer service and products. If you use this strategy, then your customers will tell their social circle how great your company is and how they should buy from you.
- Mission: This approach is based on the company’s goals and values. It’s important to understand your company’s mission before using this strategy because it requires hard work and dedication. If you use this strategy, you will have a very clear picture of what you want your company to look like in the future.
- Values: The values branding approach focuses on what values are important for the company and how they align with the customer’s values. The more closely aligned they are, the more successful this will be as a branding strategy.
- Personality: The personality branding approach focuses on what makes the company unique from others in its industry, such as its culture or values.
Innovative branding can be a competitive advantage for a company. If a company can create a unique brand , it’s more likely to be remembered than an unoriginal or generic brand. A strong brand can also be a positive influence on the company’s image.
Branding is also important for an organization because it can help create a consistent image for the company. A consistent image can help build trust with customers, which is necessary to create repeat business.
