What You Can Learn from Nike Branding Strategy
Nike is a corporation that specializes in athletic shoes, apparel, and sports equipment with a revenue of more than $24.1 billion, making it the world’s largest sporting goods company. Nike, Inc. is headquartered near Beaverton, Oregon, an unincorporated part of Washington County. The Nike corporation became the Nike Brand on May 30, 1978. The name of the company comes from Greek mythology. “Nike” is the goddess of victory. This article will be based on the data about Nike Branding strategies.
The Top summarized Nike main branding strategies
Nike focuses on its products’ design and technology which the company invests a lot of money into research and development. As a result, the products are top-quality and innovative, so Nike is well known as a quality brand.
Consumer-based Brand Management
In the past, Nike had been using
promotions to attract consumers, such as the “Just Do It” slogan; however, now they have changed their strategy to focus more on brand image. They want to communicate their products’ “passion, authenticity, and performance” to achieve their branding goals. They include advertising, sponsorship, endorsements by athletes, and sponsorships of sporting events. Advertisements are displayed in different forms, so the message is clear to target audiences.
They develop brand loyalty and create an emotional connection with their customers.
Innovative Marketing Mix Elements of Branding Strategy
Nike uses many elements from the marketing mix to create a strong brand image, such as price, promotion, product, place, and packaging. For example, Nike uses price initiatives to achieve its branding boxes and metallic bags to attract customers. However, Nike’s packaging does not play a significant role in communication because it is too simple.
Use of Images and Symbols In Branding Strategy
Nike’s communication type effectively is advertising, which can be used through different platforms such as television ads and social goals. For example, the company offers discounts for its products through online shopping sites or retail outlets. The pricing is affordable for consumers, which attracts people to buy Nike’s products.
International Branding Strategy
Nike has a global brand image because of its wide variety of products. The company uses symbols, signs, and logos to create an identity for its products all over the world:
Nike successfully establishes its international branding strategy through intelligent business strategies, including outsourcing, foreign direct investment, licensing, acquisitions, equity investments, and joint ventures.
In conclusion, Nike is a successful brand because it uses intelligent marketing strategies in different aspects. Different elements from the marketing mix are used in an effective way which strengthens its international branding strategy. In addition, the company has invested money in R&D to create high-quality products and attract consumers. Therefore, Nike Branding strategies are an essential factor to make Nike successful.
Some Figures About their Awesome Social Media Management
Nike uses multiple social media tools to consider what its customers are saying online; then, it analyzes “big data” to refine its strategies. For example, the company searches keywords and social media conversations to see what people say about Nike. Next, it looks at the demographic information of the commenters to determine how it should address those customers. In turn, Nike uses that data to plan out future campaigns and initiatives across all social media platforms.
Nike reaches about 33 million followers on its Facebook page. Nike just gained 2 million new fans in 2017, which is a truly outstanding return. Furthermore, Nike brand videos also attain top ranking on Facebook. This worthy performance displays, Nike pays required attention to Facebook strategies.
Nike has 7.9 million total followers on Twitter. This follower statistic is remarkable. Besides, Nike tweeted figure reaches approximately 18.5k 19 tweets per day.
Nike keeps an unparalleled standard on Instagram with an astounding followers number of 92 million. Nike is the second followed brand on Instagram. Excellence performance does not stop here, but its followers are growing each passing day at a rapid rate.
Everything You Need to Know about Marketing Strategies
Marketing strategies are constantly changing. They even change daily! If you’re running one of your own, these tips will hopefully help you with your marketing efforts.
Make use of social media to its fullest potential
It would help if you used sites like Twitter and Facebook to market your business correctly. These are the new billboards for companies today. Post interesting tidbits and links to your products or services regularly. By doing this, you’ll hit hard with the social media world, and it’ll help improve your site.
You must consider how many emails you get in a day. You must think of each email as an advertisement for your product service. If they’re all saying the same thing, then you need to change your marketing plan. Instead of sending out tons of emails that all say the same thing, send out one or two a month instead.
Excellent Marketing qualities
Sound marketing deals with getting people interested in what you’re selling – it’s the hook that will push potential customers. Sometimes, this means offering a discount or special price to get people into your store. Other times, it might mean free shipping if they spend over a certain amount. Always focus on getting people into your store and then work it into your sales plan.
Stop buying advertising which is not bringing up the desired results, and stop spending money on ads with banner blindness. Keep in mind; your audience isn’t stupid – they know when an ad they see online is paid and that banner blindness is a thing. If you spend thousands of dollars on paid ads every month, yet hardly anything is clicking through or being sold – you will need to find better ways to market your product.
When you’re writing about the products and services, ensure that they include keywords and phrases that people might use to find similar information or websites like your own. Try to keep all of the important keywords/phrases within the first 150 words on a page.
You can learn more about Nike Branding strategy in case of their product descriptions.
When you create promotional banners, make them pop but don’t go overboard by using bright reds, yellows, greens, or oranges. If you do this, your site will look tacky, and people will not want to click on any of the banners that lead back to your website. It would help if you also ensured a clear call to action on all promotional materials. Some companies use a simple button that says “learn more” or “get started.” These are not good enough.
Multiple contacts options
You should have multiple contact points with your customer because she may only remember the first time you bring an offer to her attention. Don’t get upset if your potential customers don’t respond to you the first time. Even if they ignore you, they may come back later and purchase something from your site.
Quality of Product
Your product needs to be better than your competition’s products, or it won’t sell. You can spend all of this money on marketing, but if what you’re selling is not good enough, then you will never make an effective sale.
You can learn more about Marketing management Here
All You Need to Know about Branding strategies
The ‘brand concept’ is a general term that defines the direction and the focus of an organization’s activities. It represents the key components in developing a successful brand strategy and positioning for an organization.
Top Branding Strategies for Professional Development
A business’ corporate brand equity is the sum of its products’ identity. Corporate branding can help deliver a competitive advantage by building solid brands for its core products, services, and competencies. As we learnt in the Nike Branding strategy section that a successful brand that meets the objectives of your business has been well planned based on thorough market research. It is crucial to know your target group and what they do, like, and dislike about you. It is also necessary to know how your competition perceives you to find out who your allies are. The strategy will enable the development of a solid corporate brand for each of your products.
Brand communication should be practical and result in raising customer awareness, try advertising on free or relatively cheap promotional tools like flyers, postcards, calendars, or posters. To increase customer loyalty, try to address the core competencies of your brand and provide special deals for repeat customers. Furthermore, you must use testimonials from satisfied customers to improve product perception.
Evaluate the market regularly
Use market research to find out how consumers perceive your brand and brand image. Assessment will help you make informed marketing decisions, for example, if the market has changed or your brand needs a boost.
Your brand articles must include attractive products of good quality. Second, introduce your product well so that people are aware of your product, and third, provide good customer service to remember the company’s name.
Product positioning is about how a product or service fits into the lives of your customers. As we learnt in the Nike Branding Strategy section that successful positioning will help create an image for your brand and keep you ahead of competitors, allowing you to build market share over time. The following points are essential in the process of positioning:
- The target group analysis can indicate that certain products are for specific groups of people.
- The product/service itself must have the ability to be flexible to provide a variety of positions within the market.
- A particular type of positioning should not affect other positions you are offering either now or in the future. A wide range of positions can confuse consumers.
- You should be aware that the positioning of your products may need to change for you to stay ahead of competitors.