HOW WILL BRANDING AFFECT THE COMING YEARS

What’s the Future of Branding?

Do you want to know how Apple can charge twice or three times the price of its competitors for the same hardware? Why do Harley Davidson's sales never flop even though most of the competition's models outperform theirs?

It's their brand

They did not try to be the best at everything, and they didn't go out of their way to appeal to everyone. Instead, they focused on their target audience and created a community that people want to be part of.

It is not necessary for a successful brand to market a specific product, since the brand has already established itself as a staple of the lifestyle their customers want.

BRANDING IN THE FUTURE

Developing a personal brand can enhance your business and open up new opportunities. In the current market, I argue that personal branding plays a part in company branding going forward.

The effectiveness of traditional advertisements and marketing is rapidly declining. Customer journeys are taking over the traditional "sales funnel", which you are no longer able to control.

The people who see your ads (which they probably don't) may not believe them. Over 80 percent of consumers do not believe corporate advertising, and the percentage among young people is even higher.

What do people think? Consumers. They trust each other based on reviews or shared content, and even influencers they respect and trust.

In the past, our businesses were built based on advertising impressions. In the future, our brands will be recognizable to a degree through an accumulation of human impressions. I am certain of this.

It's the reason why so many legacy brands are dying. Their message speaks to the beliefs and affirmed voice of an organization, or an advertising agency, and not the trustworthiness and warmth of a real person.

The Musk impact

Tesla has only been around for 10 years as an organization. The company has a market valuation similar to Ford Motor Company - the fifth-largest company by deals volume that was founded in 1903.

Some of that value can be attributed to Elon Musk's personality.

Individuals are attracted to him because he is unmistakably flawed. He appears to be a real person - not just a lawyer's mouthpiece. He is straightforward, flawed, and the best entrepreneur of our time. To many, he is a legend.

At Ford, who do you admire the most?

What about AT&T?

What about L'Oreal?

Musk's personal brand is evidently having some impact on the stock price of the company.

In today's age of human impressions, small businesses have a little more flexibility. It is common for the founder to function as the brand.

Whether it's a logo, a promotion, or some branded content, it's hard not to love it. We love people. This is the future of branding

The art and science of branding are being changed by digital technology, digital media, and online consumption patterns. There are three main challenges to branding in the digital age: digital consumer journeys, big data, and online brands. Based on our discussion, it is clear that these hurdles do not diminish the importance of brands, but in many ways shift the practice of branding and provide brand managers with new opportunities. These challenges reinforce the need for deep consumer insight, a good understanding of digital consumer journeys, and well-positioned brands. Overall, these three challenges have a balance issue:

✅ The balance between opportunities gained from technology and data, and understanding customer needs

✅ A balance between short-term optimization and long-term brand strategy

✅ Balance between short-term sales conversions and long-term customer relationships

In addition to grabbing new opportunities, brand directors should be interested in new media channels, try different things with new branding activities, and use those that prove most effective. Nonetheless, basic theories of branding are still and will continue to be central. Differentiation and brand positioning will never go out of style, and may even become more important in a digital world.

Here's our free mini-course if you're having trouble finding your niche! Garb your 100 Profitable Niches for coaches ( Mini Course) below!