Modern brand management was first developed at Procter & Gamble in the post-World War II years. Many of the same techniques used by P&G are still in place today. The idea that a dedicated team of marketers focuses on a particular brand and that one brand manager drives all the key activities that support that brand is the central idea of brand management, as it was first conceived.
What is Brand Management?
Brand management is an umbrella term that describes all the facets of design, placement, marketing, advertising, and distribution that foster identifying and developing a brand personality. If an organization has a good reputation in the marketplace, consumers may have a preference for that company. Even if there are similar businesses offering the same products or services at different prices.
Understanding the term “Brand”
Brand management begins with a thorough knowledge and understanding of the term “brand.”. Including, developing a promise, making that promise and keeping or maintaining it. It means defining the brand, positioning the brand, and delivering the brand. Brand management is nothing but an act of creating and sustaining the brand. Branding makes customers committed to your business. A strong brand differentiates your products from competitors. It gives a quality image to your business.
Types of Brands
Some of the most familiar kinds of brands include:
a. Tangible Products
b. Service or Solution
d. Institutions, Enterprises, SMEs, Corporates or Organizations
e. Event or Cause
f. What is Branding?
Branding, by definition, is a marketing practice in which a company creates a name, symbol or design that is easily identifiable as belonging to the company. This helps to identify a product and distinguish it from other products and services.
Branding is important because not only is it what makes a memorable impression on consumers but it allows your customers and clients to know what to expect from your company. It is a way of distinguishing yourself from the competitors and clarifying what it is you offer that makes you the better choice. Your brand is built to be a true representation of who you are as a business, and how you wish to be perceived.
Is branding Important?
There are many areas that are used to develop a brand including advertising, customer service, promotional merchandise, reputation and logo. All of these elements work together to create one unique and (hopefully) attention-grabbing professional profile.
Branding is absolutely critical to a business because of the overall impact it makes on your company. Branding can change how people percept your brand, it can drive new business and increase brand awareness. Below are some of the branding aspects which helps lift your business or products during a brand management process.
1. It helps you get Recognition
The most important reason branding is important to a business is that it is how a company gets recognition and becomes known to the consumers. The logo is the most important element of branding, especially where this factor is concerned, as it is essentially the face of the company. This is why a professional logo design should be powerful and easily memorable, making an impression on a person at first glance. Printed promotional products are a way of getting this across.
2. Your business Value Increases
In brand management process, branding is important when trying to generate the future of the business. For example, a strongly established brand can increase a business’ value by giving the company more leverage in the industry. This makes it a more appealing investment opportunity because of its firmly established place in the marketplace.
3. Lead generation to your New Customers
A good brand will have no trouble drumming up referral business. Strong branding generally means there is a positive impression of the company amongst consumers, and they are likely to do business with you because of the familiarity and assumed dependability of using a name they can trust. Once a brand has been well-established, word of mouth will be the company’s best and most effective advertising technique.
4. Improves employees Pride and Satisfaction
When an employee works for a strongly branded company and truly stands behind the brand, they will be more satisfied with their job and have a higher degree of pride in the work that they do. Working for a brand that is reputable and help in high regard amongst the public makes working for that company more enjoyable and fulfilling. Having a branded office, which can often help employees feel more satisfied and have a sense of belonging to the company, can be achieved by using promotional merchandise for your desktop.
5. Creates Trust within the Marketplace
A professional appearance and well-strategized branding will help the company build trust with consumers, potential clients, and customers. People are more likely to do business with a company that has a polished and professional portrayal. Being properly branded gives the impression of being industry experts and makes the public feel as though they can trust your company, the products, and services it offers and the way it handles its business.
6. The branding process Supports Advertising
Advertising is another component of branding, and advertising strategies will directly reflect the brand and its desired portrayal. Advertising techniques such as the use of promotional products from trusted companies such as Outstanding Branding make it easy to create a cohesive and appealing advertising strategy that plays well into your branding goals.
Brand management Tangible and Intangible Characteristics
In the case of product brands, the tangibles include the product itself, price, packaging, etc. While in case of service brands, the tangibles include the customers’ experience. The intangibles include emotional connections with the product/service.
Strong brands reduce customers’ perceived monetary, social and safety risks in buying goods/services. The customers can better imagine the intangible goods with the help of brand name. Strong brand organizations have a high market share. The brand should be given good support so that it can sustain itself in long run.
It is essential to manage all brands and build brand equity over a period of time. Here come importance and usefulness of brand management. Brand management helps in building a corporate image. A brand manager has to oversee overall brand performance. A successful brand can only be created if the brand management system is competent.
Important concepts of brand management:
- Definition of Brand
- Name the Brand
- Attributes of the Brand
- The positioning of the Brand
- The identity of the Brand
- Sources of Brand Identity
- Brand Image
- Identity vs Image of the Brand
- A personality of the Brand
- Awareness of the Brand
- Brand Loyalty
- Overall Brand Association
- Building a Brand
- Visual Brand Equity
- Equity of the Brand & Customer Equity
- Extension of the Brand
Brand Reputation and Presence Awareness
Moreover, the reputation of an organization can enable a company to differentiate its product in highly competitive markets. Particularly, allowing it to have premium pricing, and can become the ultimate factor in whether a customer decides to patronize one business over another.
Additionally, such companies are noticing that consumers are willing to pay a premium price for labels that are considered to have more of a prestigious reputation than others. Maintaining the reputation of a company through social media takes time and requires educating stakeholders within the organization. For instance, making them aware of a company’s internal values and key messages that need to be conveyed as well as creating a united, consistent voice.
Brand Management Strategies
In the past, businesses relied on word of mouth by their stakeholders in order to establish, build and maintain their reputations. In this modern age of social networking, websites, and other methods of instant communication, businesses must be conscientious of their reputations on a constant basis and be responsive to any crisis that may have an impact on their reputation.
While an intangible concept, having a good reputation can benefit a business in a multitude of ways including consumer preference; support for an organization in times of crisis or controversy; and the future value of an organization in the marketplace.
The aim of branding is to convey brand message vividly, create customer loyalty, persuade the buyer of the product, and establish emotional connectivity with the customers. Branding forms customer perceptions about the product. It should raise customer expectations about the product. The primary aim of branding is to create differentiation.
Amplifying your Online Brand Reputation & Awareness
In this extremely competitive digital age, brand management and awareness creation are more important than ever. You must make your brand highly visible to increase credibility and, consequently, customer conversion rates.
But how do some brands become huge seemingly overnight? It’s easy to assume that wide exposure as a brand always stems from having a lot of money but that’s not always the case. While funding can certainly be an asset to online marketing, the only things that you really need to build brand awareness are basic online marketing tactics and a little creativity.
1. Develop A Company Identity
What does your business stand for? Do you have a core mission statement? Without a clear focus, it’s all but impossible to establish consistency for your branding. A logo shouldn’t simply be graphic—it should also communicate something that people associate with your business.
It’s more important that you stay true to your mission statement than it is to have exactly the same logos, fonts, and colors in all of your marketing strategies. A clear focus with a consistent persona will still help people to recognize your brand instantly even in variation.
2. Be Active On Social Media
Social media is one of the most effective and most affordable ways to promote your business and increase awareness of your brand. While you may pay for social media advertising at some point in the future, it costs nothing to create a social media account and start using it. Figure out where your target audience is spending time online and concentrate on these channels.
You’re better off just focusing on the channels that reach a majority of your audience at first than putting a lot of effort into trying a bunch of sites, including the ones that aren’t as relevant to your customer demographic. Create meaningful, engaging content that is appropriate for each channel, and develop an optimal posting schedule to reach as many followers each day as you can.
3. Start A Blog
Similar to social media, you don’t need a ton of money to get a blog up and running. Blogging is an invaluable way to improve your company’s search engine rank, establish validity for your brand, and increase your overall reach. The high-quality blog content that you create today will continue to draw in new customers for years to come. Blogging is also a great way to cultivate relationships with both customers and key influencers. Use calls to action to encourage sharing or discussion in the comments. Once you have an established blog, you can expand your reach by bringing in guest bloggers and partnering with bigger brands.
4. Create An Email Newsletter
Although it may seem like a dated concept, there’s still nothing quite like delivering powerful brand content right to someone’s inbox. Equipped with a digital coupon, people are more likely to take advantage of that great sale today than they are to put off the purchase for a few more weeks—or even months. A helpful related strategy to consider is offering an incentive for customers to sign up for your newsletters, such as a free e-book or a coupon for an online purchase.
5. Utilize Video Marketing
In an increasingly visual society, the video has become one of the most powerful marketing tools for businesses of all sizes from all industries. In January 2014, 61 percent of the United States population watched an average of 397 online videos. One of the key aspects of success with video marketing in 2015 is determining which types of content will resonate most strongly with mobile viewers, who comprise a growing percentage of people viewing online.
Finally, the key to building brand awareness is being authentic. Many companies get in trouble by trying to be like other powerful brands. Be open and honest about the value of your brand and communicate it clearly to your target audience.
Brands can have a powerful influence on customer engagement and the management of an enterprise. The pivotal point of brand management is trust. Without it, the brand promise is broken. Consumers generally believe they can trust a brand to meet most of the elements of the brand promise. For example, The jmexclusives Team promises that you’re in good hands while undertaking all your online activities.
If the team did not deliver a website on the agreed time, that brand promise would be broken. Once a brand is established and consumers generally express brand affinity, the brand manufacturer often can accelerate the trust stage with new-to-the-brand consumers.
If you’re looking to build up your brand online, look into the jmexclusives digital online and social media marketing services. The professional and competent team will guide you with a custom corporate branding and messaging design services. Send your questions, suggestions, and reviews through the Contacts Page.
Joseph Mucira is the Founder of The jmexclusives Agency. Uniquely, Joseph is an experienced I.C.T. expert with a wide range of experience and influence when it comes to profile branding and consulting with all-inclusive online brands, products & businesses. Additionally, he is a top rated content writer, profile certifier, search engine optimizer, affiliate marketer, internet lead campaigner, a digital content promoter as well as responsive website designer and developer.