Why can't a brand last long without brand management?

To understand better how brand management works, let us first know what exactly a brand is? A brand is much more than a product or service. The brand consists of signs, symbols, slogans aligned with an identity. If you were to introduce your friend/ colleague to people, you would describe some qualities or their personality. The same is with a brand.

The core values, personality, identity, USP of a brand make consumers attach to a brand. Branding is a process to build a brand aligned with communication and marketing strategy.

What is brand management?

While branding takes a lot of time to build a brand, yet to manage and retain that brand - brand management is essential. Brand management is a process to maintain the reputation of a brand. Its purpose is to increase brand equity in the market with the right strategy.

Creating awareness is crucial as customers would not buy your product or service if they are not aware. Once your brand awareness increases, the potential customers convert into regular customers and result in consumer loyalty if presented well.

A brand changes constantly depending on the exterior factor-like current events, news, social media, and related things. Hence, the communication strategy has to be changed to maintain the reputation of your brand. A compelling story attracts consumers, investors, and shareholders. So never let your brand reputation go down. A brand manager or consultant can provide you with the right strategy to manage your brand effectively.

Why brand management?

Generally, it gets difficult to control what people think and perceive about your brand. Brand management is a process to plan a strategy, respond to your customers and build a reputation. Making consumers perceive you that you want them to have.

Brand management incorporates not just communication strategy but sales department, analysis department, customer service, creative department to maintain a better customer relationship.

If implemented correctly, brand management can provide -

• ● Boosts sales.
• ● Increase brand awareness.
• ● Reach more target audiences with an impact.
• ● Turn potential consumers into regular ones.
• ● Increase brand equity.
• ● Build more loyal customers.
• ● Maintain brand reputation.
• ● Develop effective communication to attract consumers, investors, and shareholders.

Process of brand management

By following the brand principle, the brand management process gets easier. A brand with unique communication stands different in the market. Many brands come up with massive advertisements and promotions but do not get effective results. The only reason is they do not follow a predefined process. To enrich and manage the brand, brands need to stick to principles and follow the process.

Brand Awareness

Brand awareness is how people are aware of your brand. If people are not aware of your brand, they are likely to avoid your brand over others. The first step is to generate awareness among the audience and reach as many people as you can.

Brand Equity

Brand equity is how consumers value your brand based on their experience, perception of your brand. It is related to the brand valuation, commercial value of brands considered in the market. Brand equity is essential because a valuable brand is supported by customers, investors, shareholders even when the price is high. Also, the trust is intact even in a downfall.

Brand Recognition

Brand recognition is how good people from your target audience can recognize you by seeing creatives, taglines, slogans, videos without seeing your brand name. Brand recognition is one of the essential steps by recalling your brand. Customers would place your brand top on their minds and choose you over other brands.

Brand Reputation

Brand reputation states how people perceive your brand status, quality. Your brand reputation can impact internal factors like employees, product/service qualities, customer service, etc. And external factors like word of mouth marketing, consumer reviews, etc. Brand reputation is vital because it is like a first impression of your brand to consumers.

Brand Loyalty

Brand loyalty is how frequently consumers engage and purchase from your brand. Marketing cannot always influence and bring loyal customers but your employees can. Customer service helps retain your customers through good consumer relationships. A customer feels satisfied by your brand and supports your brand in every situation. Brand loyalty is the most powerful key to your brand as your customers become brand advocates and ambassadors for you.

Tangible and Intangible elements of brand management

Intangible elements impact your brand reputation. It can be worked both internally as well as externally. It is how your customers experience and perceive your brand.

Intangible elements are vital as they help connect your potential customers with your brand. A focused brand with a compelling story can motivate employees and potential customers to build an emotional connection. Intangible elements are discussed in-depth above in the process of the brand management section.

Tangible elements of brand management include all the physical looks of the brand and product. They are brand assets - the factors that customers can touch, feel, see and experience.

These elements indicate your brand in the most creative way. Customers get attracted to your brand through tangible elements.

Brand name

The brand name is your primary identity that creates an impact. A brand name should be unique, and flexible so that you can introduce different categories of products and services in future. A distinctive brand name helps customers to recognize your brand easily.

Packaging

A new product is known for appealing packaging. When the audience is aware of your product, but if the packaging is not up to the mark. They are less likely to buy your product. It's the first impression for customers of your product. Attractive packaging is the key to your good sales.

Graphics and typography

Graphics include all ads or communication that you use for your branding and marketing. These are applicable for digital, print, or standalone platforms. It should display all the essentials of your brand, and communication through graphics should be clear, appealing.

Typography is the text you use in your creatives. A particular font style with accurate size impacts the style guide of your brand. A text that does not resonate with your brand on any platforms or elements can ruin your brand reputation.

Conclusion

Brand management is essential for the success of your company. As the world outside keeps changing, your brand needs to manage and update accordingly. Marketing alone cannot reach your brand at the top, but brand management helps you achieve your long-term goals. When employees are motivated to uplift a brand, they deliver good results while maintaining the relationship with the customer.