What is Brand Management? + 5 PrinciplesPublished on June 13, 2019
As the sages would say, image is everything.
Especially, in business.
Branding is all about presentation and creating perceptions in the minds of people. How you present yourself tends to have a profound effect on the masses.
With branding, you can increase your business value and generate new leads. While at it, you’re likely to realize an improvement in employee pride and contentedness.
With all these benefits, it’s quite obvious that branding needs to be at the heart of your operations.
If you have lofty ambitions for your enterprise, then, you definitely need to invest in brand management.
Just what is Brand Management?
In essence, brand management deals with capturing the target audience for your product and/or service and building a positive relationship with them.
As an integral piece of the marketing sphere, it makes use of various techniques plus marketing copy. It is through these tools that you can successfully enhance the value of your organization.
Having said that, it’s worth documenting that brand management almost always boils down to one thing.
Naturally, consumers expect you to deliver on all the promises you make on your product offering. Even then, it takes a different kind of persuasion and confidence for them to stick around after the initial pitch.
You need to ensure that you’re able to build trust in your product and thereby guide them along the final buying stage. If you consistently fail to live by your message, you may find your brand suffering irreparable damage.
As you delve further into the field you’re likely going to realize that some Social Media platforms can make or destroy brands. As such, you need to tread carefully on all the promises you make. Instead of only making grandiose assurances, make sure you’re able to back up your statements.
That way, you’ll be boosting what your brand is all about.
Brand Management Principles
1. Define Your Brand
Injecting some fresh perspective about what your business stands for is where it all starts. Importantly, as you seek to build upon your authenticity, you need to objectively figure out what you do best.
This ensures that you’re able to communicate your strengths with consistency.
Failure to do this may see your bright flame extinguished even before you begin. Many a time, we’ve witnessed companies acquiring other brands only to see their ventures backfire down the line. To avoid becoming just another statistic, you need to ensure that every advancement you make is in line with your brand strategy.
2. Consistency is the name of the Game
Continuously developing your brand is the best way to stand out from the rest of the pack. You need to find a brand message that resonates with your operations and stick by it all the way through.
A unique selling proposition (USP) distinguishes your brand. Understanding your product and how it fits in the market is a great way to start off. Aspects like durability, cost-effectiveness, and general efficacy are great ways to start.
Once you’re able to explain just how different the brand is, you can leverage the power contained therein.
A good example of a company that has employed this approach is BMW. All through, they’ve stuck by one anthem, “the ultimate driving machine”. This strategy has seen them become revered as one of the very best automobile companies.
3. Emotional Connection
As enticing as it is to pursue monetary rewards, you need to strive to ensure that your clients are able to identify with your brand on an emotional level.
It’s how the biggest brands have managed to become household names. When most people think about Starbucks, they think about more than just buying coffee. The overall brand experience at Starbucks is one of the key motivators why people keep flocking at the establishment.
You can replicate the same in your enterprise and reap the full rewards.
4. Collaborate with Influencers
Want to make headway in the market? Why not ask some else to do it?
When you really think about it, there’s no one better to help you achieve your vision than an influencer. Ideally, you want to work with influencers who are trusted by your target market. Through this third-person effect, you are likely to resonate better with audiences and build trust.
That said, establishing and maintaining a relationship with an influencer is no mean feat. For that to happen, you need to identify the right buttons to press and constantly engage them.
With open communication channels, you’ll find it easy to understand what they really want.
5. Make Use of Brand Management Software
People in your employ may come and go, the products you offer may change, but, the brand always stands strong.
While it’s true that brand evolution is an integral piece of the equation, you need to ensure that the core message never changes. You can facilitate this progression by managing the visual cues like color schemes and logos representing the brand by having them saved on brand management software
That way, you’ll store rich metadata for future use. Notably, this a better way to store your digital files compared to depending on other cloud storage solutions like Google Drive and Dropbox.
Brand management plays a critical role in company growth. This is because the trust element in business plays a big role in influencing customers’ purchasing decision.
In light of this, it’s important to comprehend and identify the various tactics and strategies that set your company apart from all the rest. By doing so, you’ll be able to develop the brand visibility and elevate it to the next level.
Having shared some actionable pointers, we’re hopeful that you’ve noted some informative takeaways. As a rejoinder, you need to remember that you don’t really need a massive budget for your branding operations to run. You can choose to collaborate with other departments, not just the marketing division, to develop a vision that resonates well with the market.