Many businesses utilize branding strategies in order to build rapport and favorability within the market.
After all, building a brand requires effort, as it mainly affects the performance of a business.
Business owners aspire for international recognition for their distinguished values and brand identity. To do so, businesses adopt the use of branding strategies.
Branding strategies help in outlining plans to achieve long-term goals that result in brand recognition and preference among consumers.
With a solid reputation, consumers can effectively recognize the business and significantly impact brand performance in the market.
However, it is important for business owners to invest in a suitable strategy based on the type of your business.
An effective branding strategy should be planned based on the vision, mission as well values of the business.
But the first step to identifying the right branding strategies for any business is to be knowledgeable about them.
7 Types Of Branding Strategies for Malaysia’s Companies
1. Personal Branding
Branding does not only apply to companies, but also to individuals who need the public appeal in order to move their careers forward.
Personal branding helps individuals like celebrities, politicians and athletes to utilise their personalities as characters or personas.
When a character or persona is established, naturally a reputation is built, engraving a memorable brand for the consumers to identify.
Many individuals in Malaysia have established a personal brand by only producing specific content on various social media platforms.
The consumers then would recognise the individual with the specific contents and visit their platforms for more.
In a way, with proper personal branding, there is a chance for your consumers to become your loyal fans.
There is also a chance for loyal consumers to advocate for your brand, which then will improve brand performance.
If you are interested in being a public figure, try looking into ways to distinguish your persona to make you stand out in the field.
2. Product Branding
Product branding is one of the most common branding strategies in Malaysia. The strategy aims to distinguish business products from other similar products in the market.
Other than that, the symbols and colours used behind a design can also express the brand’s visions and values to the consumers.
McDonalds’, for example, is known for its yellow ‘M’ on a red background which is the staple of the brand’s identity. The two colours are also consistently used for their mascots, packaging and even the store’s exterior and interior design.
Another familiar example would be its rival, KFC. The logo of KFC is memorable as it used an illustration of an old man, indicating the founder of the business itself, Colonel Sanders.
The colour palette chosen by the franchise is red, white and black, and it is also widely used in every aspect of the brand.
Establishing a product identity would help in making your brand recognisable, which then will significantly affect brands performance.
3. Corporate Branding
Corporate branding seeks to present the core value and philosophy of a certain business to the world. The values and philosophy were often presented to the employees as a significant part of the business.
Employers of corporate branding aim to display the visions, missions, personality and core values of the business in every possible contact with consumers.
Corporate branding requires a lot of research as well as surveys among the employees, so that you can build meaningful connections with the consumers.
Nike, for example, provided a whole worldview along with their products. The swoosh check mark logo for the corporate business has already spoken for the brand itself, “Just do it.”
The tagline speaks to the consumers in a way that it is motivating, as the company believes that everyone can become an athlete if they try.
With corporate branding, consumers are bound to associate the worldviews presented by the corporation with the brand. For example, it feels incomplete to say “Just do it” without inserting the brand to the saying.
This branding strategy would also help in distinguishing the corporation from others, as it helps in establishing a corporate identity in the competitive market.
4. Service Branding
In 2021, Petronas, alongside Maybank and Shopee were listed as the top three leading CX Brands in Malaysia.
The brands were chosen by the customers for their exceptional performance against The Six Pillars of Customers Experience.
That is exactly what service branding has to offer.
With service branding, consumers are bound to associate the business with great customer service, which then will build the brand itself.
People like to be treated nicely, and they tend to remember those who treat them well.
Which is why service branding is one of the most effective strategies for branding.
By recognizing the importance of engaging with customers, businesses are able to personalise the buying experience for consumers.
This will then lead to satisfaction among consumers, which then leads to the increase of brand loyalty.
This branding strategy aims to fulfil customer’s needs as a part of their core values, which will attract many consumers, new and repeating back to their business.
Co-branding is a branding strategy that connects two or more businesses together. In other words, it is a marketing partnership between multiple businesses.
For example, local fashion brand CalaQisya had partnered up with Disney for their 2021 film ‘Raya and the Last Dragon” in producing five kaftans with incorporated designs from the film’s scenes.
The strategy of co-branding can benefit businesses in a positive way, especially in brand awareness.
When a smaller business collaborates with a larger business, the brand awareness for the former simultaneously increases along with the latter.
For example, CalaQisya are now able to garner brand awareness from local and foreign Disney fans.
Co-branding also helps businesses to break into new markets, by producing a hybrid product from both businesses.
For example, Disney now has kaftans in their line of merchandise, a market which is rare for western companies to break through.
If you are an SME owner looking into ways to increase your brand performance, try proposing a project with an established brand.
There are so many benefits to it, it is a waste if you do not take a chance.
6. No Brand Branding
“Less is better,” they say.
No brand branding is a branding strategy that focuses on highlighting the product as generic as possible.
You might ask, does that really work?
The answer is a solid yes. No brand branding does work.
Brandless, for example, is one of the leading brands with the no brand branding strategy.
Their product packaging is designed in minimal colours and symbols, maximum two colours and basic geometrical shapes.
With little investment in hidden costs like branding, Brandless aims to deliver products at similar quality as the branded ones at a lower cost. There goes the appeal, good products at a lower cost.
As no brand businesses live up to their claim, it is easy for the business to garner consumers.
No brand branding is proven to be effective as consumers value reasonable pricing in high-quality products.
Not to mention, the minimalist trend is back on the shelves. Many consumers, these days, enjoy simple designs and no brand branding helps to fulfil the needs of the specific target market.
7. Online Branding
In the era of technology, there is a massive increase of the utilisation of online marketplace. Therefore, many businesses have resorted to online branding as one of their branding strategies.
The pandemic, specifically, has led to many local SMEs establishing their businesses online. There is also a massive increase in the usage of corporate social media platforms for the purpose of establishing an online brand.
Mydin, a local hypermarket and retail chain in Malaysia, has garnered attention from consumers for its up-to-date social media branding.
By incorporating their business into engaging and funny tweets on Twitter, Mydin has built up a positive reputation among the consumers.
Online branding helps to establish an online presence for your business, given that the Internet has become a huge part of people’s life.
Other than that, it is also cost-friendly – perfect for SME owners who are looking to establish a brand.
What is not to like with online branding? Perhaps nothing. Therefore, consider giving online branding a try.