At the core a brand is a name, identity, logo, and its image in the minds of its prospect customers or any feature of a product or service that differentiates it from its competitors. It is the perceived image of an organization by those who experience it. To make it simple a business is a person and the brand is its personality. The personality is going to define how trusted the person is right? Similarly the brand reputation determines how trustable the brand is in the eyes of its customers.
Branding is the process of building a brand, giving a business its identity and creating a meritorious reputation and competent position in the market. It includes crafting your vision and mission, setting company values & culture as well as designing brand architecture.
It’s often noticed that certain brands emerge brilliantly. They captivate consumers by being uniquely different but aren’t able to sustain that position for long, they just fade away and are forgotten. It is the result of poor brand management.
WHAT IS BRAND MANAGEMENT
Brand Management is the art of maintaining your brand, delivering consistent value and connecting with your target audience to build a positive association with them. It is a cardinal business practice especially in this era for organizations to maintain strong brand recall.
It’s a critical element of marketing and acts as the foundation of your communication and relationship with customers, advertising efforts and all your social media marketing activities.
A strong brand is considered to be credible and reduces perceived risk and increases customers trust and confidence in the purchase. It is also likely to positively impact the consumers post purchase dissonance as well. On a broad spectrum approach brand management is managing the tangible and intangible features of a brand.
FOUNDATIONS OF BRAND MANAGEMENT:
- Brand Identity: The primary identity of your company is your name. The company name is one thing that cannot be changed in future, hence it should be well thought and planned out before going forward with trademarking. It will be used everywhere from your on site location to your social media channels and your business cards. Brand identity also includes the visual identity of the brand that is your company’s logo. The logo should effectively communicate company’s message and is preferred to comprehendible enough for the users to understand what the business is about. Cohesion is the essence of a successful brand identity.
- Color Scheme & Writing Style: Color scheme is the creative representation of your brand. If used tactfully colors have the power to attract customers and ignite emotion. The writing style should match your brand persona. Brand colors and typography should be relevant and consistent throughout.
- Brand Graphics: It includes different type of graphics designed for marketing purposes, used across various channels. In order to provide a seamless and consistent branding experience to customers, all your graphics should be well coordinated and organized based on your brand identity and relevant to your color scheme.
- Brand Loyalty: It refers to the dedication of customers to buy your products and consistently engage with your brand. An important factor that leads to brand loyalty is customer satisfaction and buying experience. Loyal customers are often known to involuntarily become the brand ambassadors which is a perk for brand management.
- Social Platforms: In this digital era businesses are seen to build brands solely through social platforms. They are the most viewed branding assets and consequently plays a crucial role in brand management. It is proven to be a phenomenal marketing opportunity. . Social platforms should be consistent and well updated in order to encourage engagements.
HOW TO EFFECTIVELY MANAGE YOUR BRAND
Here are 5 most effective practices to ace brand management for your company:
- USP: Unique selling point is any factor that differentiates a product from that of its competitors. It can be the price of the product, its quality or any specific feature that makes your product or service unique. Once you figure out your unique selling point, it can be leveraged to be the backbone of all your marketing activities. It can be very a very effective tool for brand management as well as brand recognition.
- CONNECTION: A brand is not just merely a logo or a name it’s far more than that for its prospect customers. It is a fantasied idea reflected in product or service for customers to experience. People have innate desire to create relationships and providing them an opportunity to connect with the brand can really do wonders. It can lead to strong customer loyalty and the desire to purchase. Letting your prospect customers to emotionally connect to your brand & being a part of their lives can strengthen your relationship and boost your branding strategy to a next level.
- CONSISTENCY: It is all about being cohesive in all your marketing efforts. IN order to build a unique brand you need to make sure that your customer buying journey is seamlessly consistent. The key to be relevant and not promote anything that doesn’t relate to your brand. For instance your Facebook handle should not have a post that is not relatable to your company, leaving your user confused about it.
- FLEXIBILITY: A well-managed firm is always relevant as well as flexible. Being a business is to adjustments. In this rapidly changing world and volatile environment. It is necessary to refresh your image occasionally and tweak your brand message according to the situation in order to remain relevant and not lack behind. Organizations embracing change are considered to be creative & competent.
- INTERNAL INVOLVEMENT: Collaboration and team consent is crucial for creating a unified brand image to your target audience. Incorporating all your team members ideas can evolve your brand and enhance customer experience from all the aspects which would not have been done otherwise.
Branding is all about giving your business a personality through which it is recognized and becomes relatable for the customers to connect. However an important aspect of branding is brand management . It is the process of marinating your brand over time and create brand loyalty. In other words it’s simply managing the tangible and intangible characteristics of a brand. These characteristics include brand identity, color scheme and typography, brand graphics, brand loyalty and the digital marketing channels. There are some effective ways to maintain a brand like leveraging its USP in all the marketing efforts and creating an emotional connection with the customers that fosters loyalty. Brand message should be consistent throughout in which team involvement plays a critical role. Lastly being open to change is proven to help businesses in their brand management process.