OCTOMBERASIA BUSINESS OUTLOOK9HOW BRANDING STRATEGIES HELPS INTERNATIONAL BUSINESSES FOR LONG-TERM GROWTHOnly a few successful businesses required effective branding strategies prior to the internet. These were the biggest names in business, with global operations and employees all over the world. Coca-Cola is one such company. For decades, the beverage corporation has catered to a global customer base, tailoring advertising, distribution, and pricing to each market while adhering to its global brand strategy of sharing happiness. Fast forward to the 2000s, and most businesses are global from the beginning. Anyone can create an online business presence, whether it's a one-page website, an e-commerce store, or a social media profile, thanks to the internet. Companies of all sizes can launch global marketing campaigns and attract more customers without dedicated marketing teams with reasonable budgets and marketing creativity. It's essential to create a deliberate global brand strategy before executing marketing campaigns. A solid strategy increases your chances of connecting with your target market and converting prospects to customers.How Branding Works?A brand is more than just a name, a logo design, or a snazzy strapline it is everything that encompasses your organization and helps to set you apart from others. For example, branding can be achieved through:· The visual identity of the brand (logo, website, and colors, are just some examples).· Advertising and Communications· Product and Packaging design· In-Store Experience· Pricing· Sponsoring and PartnershipsThink of a brand as a person, each individual has their own personality, way of dressing, communicating, their own values, friends, characteristics, and story to tell. It is this that makes businesses what they are and it is also these characteristics that make a brand."In essence, brand strategies and emotion are two sides of the same coin. Successful businesses develop a strong emotional bond with their customers. To build loyalty and garner trust, ensure that your image will resonate with your target audience through extensive customer research and analysis".Global Brand Strategy of International BusinessesTo create a successful brand, everyone must be on board. Everyone, from the CEO to the shop floor worker, must share the same vision and purpose. This drive will also propel your company to success. Customers will benefit from employees who truly understand and believe in what they are doing and why they are doing it. This is why it is critical to have a clear brand strategy and provide structured and detailed brand guidelines to everyone who works for your company, which will reflect the brand's purpose, values, strategy, and communication codes.Branding has grown in importance for international businesses over the years, and for some, it is now even included on the balance sheet. Why? Because having a valuable brand helps in the development of a profitable business. Yes, it will be adapted and modified over time, but a strong brand that can adapt will withstand any test of time and ensure future business. To understand the value of these international brands, consider Coca-Cola, Apple, IMPRESSIONS
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