Branding Growth: 3 Industries Seeing a Brand Increase
There is never a lack of competition for brands, both within their own industry or for the attention of their audiences. This constant competition underscores the importance of creating and maintaining a strong branding strategy and ensuring that all aspects of a brand are in line with that strategy.
Here are three industries that have seen a recent rise in brands, and how the influx of these new brands is impacting the overall strategy for the newcomers.
- Wearables/Internet of Things Products
Consumers are already more connected than we’ve ever been – our lives are driven by technology. But, much like most technological trends, we always want to find out what the next step could be. With wearables, such as smart watches Google Glass, this connectivity is taking forms that will literally be attached to the user. The Internet of Things is taking this connectivity and advancing it to encompass everyday objects and make them all work together – the thought of having a thermostat that adjusts the temperature when you open the garage door is no longer science fiction.
This is such an explored area of the technology industry that new and unique strategies come into play for brands. Touting a product as “groundbreaking” or “revolutionary” does not carry the same weight as it does in other industries, as the vast majority of brands can claim the same.
Therefore, a strong and well thought-out strategy on how to position a brand in all aspects – establishing the verbal and visual characteristics, creating a brand vision and mission, along with others – can be the springboard for a great product to find success.
- Craft Beer Breweries
The trend toward smaller/localized food and drink has definitely made its way into the brewing industry. Craft breweries and companies are growing at an unprecedented rate recently, riding the wave of consumers wanting to buy and consume locally-made products. According to the Brewers Association, an industry trade group, in 2015 craft brewers saw an increase of 18 percent in the volume of barrels produced over the previous year, and have hit the point where about one out of every 10 beers sold in the United States come from craft brewers.
From a branding standpoint, the craft beer/brewery industry is fast approaching an issue that many industries would welcome – they are running out of possible names for each brand. As noted in this article from the NPR, new brands looking to break into the industry and join the over 3,400 breweries in the United States are facing possible trademark and legal issues when creating their names.
For a brand to stand out in this space, it takes more than just a catchy name. An all-inclusive branding strategy is necessary to separate from the pack. Visual and verbal must combine to create a powerful brand imagery that jumps out at the consumer in the store, which for many of the lesser-known brands, is the one chance to get front and center with their audience.
- Social Media Platforms
Bubbly. Unmetric. Frilp. Space Tag. At first glance, it may look like someone got distracted while typing and ended up with a jumble of words and letters. But, in fact, these are four of the “15 Social Media Companies to Watch in 2015” by Forbes.
The majority of social media users know the big players – Facebook, Twitter, Instagram, etc. They have dominated the social media space for years, but that hasn’t dissuaded a rise in new social media platform startups that seem to hit the market daily. Some have more success than others, where the majority come and go with little publicity.
Consumers and audiences are constantly looking for the “next big thing” in the social media space, the new brand that will revolutionize how we act and interact online. Add to the equation that many of these new companies focusing on very specific services, and you have a recipe for a brand explosion.
For social platforms, brand strategy is vital. Naming “rules” are more relaxed for these brands, allowing for more creativity and thinking outside the box. But how a brand is introduced to the market and how they strategically differentiate themselves to the public will go a long way into determining whether they join the list of long-lasting brands or find themselves washed along the shore.
Sources:
http://fortune.com/2015/03/16/craft-beers-volume-rising/
http://www.forbes.com/sites/ilyapozin/2014/12/17/15-social-media-companies-to-watch-in-2015/
Addison Whitney is a global branding firm with a passion for building strong brands.
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