Brand building: Saving advertising cost

Branding is often confused to be linked directly to advertising. It is considered that company should spend more on advertising to build its brand among customers. Brand is something more than just promoting name or logo of the company.

Yes branding can be done without advertising and its practically possible to save advertising cost. Most of the companies spend huge on advertising with a mindset to promote their brands but that’s the basic mistake. Firstly you need to have a clear vision and mission statement of a brand align to channel partners and everyone associated with the company. That’s the basic and foremost important parameter. To have a brand you need to have product delivering value to the customers. Product Value should match perceived value of the customers. The only differentiating factor is product which will make your customer speak about your brand henceforth. Set of customers who will try your product with knowing your brand will be risk seekers and those are usually opinion leaders in a market.

Everything should be right about the product and value it will deliver. In absence of advertisement supporting brand, product plays the most important role in brand building. Instead of making jazzy