Brand building and brand control is critical for marketers who needs to acquire future customers. Making that good first impression is important. As your brand’s first impression is often realized through your brand presentation, securing seamless integration between brand experience and desired brand associations is key.
Four key reasons to invest in brand management
When potential customers aren’t familiar with your company, a salesperson will spend valuable (and unnecessary) minutes explaining what your company is all about. It is likely that the meeting would be more effective if this could be eliminated – when your sales team can spend their valuable time selling your products or services instead.
1. Brand Management tools for consistent branding
One of the most important reasons why marketing people use brand management tools is to achieve a consistent brand presentation.
Research shows that you can increase your revenue with 23% if your brand is consistent.
How do you achieve a consistent brand? First you need to establish brand guidelines. Approximately 95% of companies have brand guidelines, but only 25% comply with them.
So how do you get everyone to follow the same guidelines? If you decide to use software for brand management, you can achieve full control of your marketing materiel connected to your brand. Including approved templates, logos and digital assets, regardless of company size and structure. When using an online software solution, your brand will always be updated and on-brand.
Also read: Management requirements - How to meet them?
Additionally, with brand identity guidelines and proper tools, brand consistency is secured.
If you find yourself in a situation where your brand has been compromised (maybe before you established guidelines), you should consider a brand compliance review. By getting a thorough overview of your brand efforts across your organization, you will get a good grip of how your brand is used and presented.
Digital asset management
A part of creating brand compliance is to make sure everyone has access to and the ability to use marketing and brand material.
A digital asset management system (DAM software) organizes and handle your marketing and brand assets with ease, making them searchable and available. This way your assets are always updated and available with correct formats and dimensions, and time wasted on searching for assets or trying to keep your organization updated is eliminated.
Think about the time savings, especially because you reduce many manual operations associated with file handling.
2. Increase productivity
A brand management tool allows your marketing team to create their own branded collateral with ease and contributes to increased productivity across your organization.
Additionally, there is no need to ask your designer to create custom files for each marketer who asks for collateral. When you don’t spend your time sending files and being brand police, you free your team to become more productive in other more valuable matters.
3. Customer loyalty
Succeeding with brand building will have a positive impact on your customer relations and loyalty. Customer retention KPI should not be overlooked in relation to ROI.
It cost less to keep your existing customer base than to create new relations. According to Harvard Business Review, it is 25 times more expensive to acquire a new customer than to keep an existing one.
4. Competitive advantage
A brand management system allows you to respond faster to market demands and internal needs. It takes you ahead of your competitors as you undertake an innovative market approach. Think about the first-mover advantage: It makes it possible for a company to establish a strong brand recognition along with product and/or service loyalty before the competition.
According to Harvard Business Review, industry dynamics is crucial. It is important to consider how a company achieve the first-mover advantage. One way to do this is to establish technological advantage compared to your competitors. Another initiative is to gain access to attractive features (such as location, know-how etc.) earlier than your competition.
Growth and profitability
According to the analyst company Forrester, 90% of consumers start their purchase with a search, and 74% finalize their search online before going to the store.
Brand building is the key to drive sales, increase partnerships and accelerate growth. Your future customers need to trust your brand, your reliability, and your ability to operate your business well and correct.
Think of brand management as a way of life and a long-term investment – not an expense.