Brand awareness doesn’t occur overnight. Building a brand that is embraced by consumers and taking its piece of the pie called market share doesn’t happen by chance – and that’s what Brand Management is all about.
In short terms, Brand Management consists of an array of functions and processes within marketing which involves strategies and techniques to make sure the goals you have set for your brand are achieved. This includes everything from outlining the brand plan and how you want your brand to be perceived, to analyzing, processing, adapting, and growing your brand over time – always aligned with the overall company strategies.
It is also about increasing the long-term brand value and establishing healthy brand associations that nurtures a loyal customer base. The main goal is to build, measure and control your brand.
An essential factor in brand management that should not be forgotten is that it involves everyone in your company, not just the marketing team. It’s about establishing streamlined workflows throughout the entire company making sure the marketing team can rest assured that the brand is always used accurately.
Why is Brand Management important?
Never before has the market changed faster – regardless of industry. Brands face several challenges. Establishing solid customer loyalty while differentiating your brand from your competitors, demands visibility in a range of channels. And competition is fierce. Studies show that it takes 5 to 7 interactions with a brand before it makes an impression. In other words, if your competitors beat you to it, it will be hard getting the consumer’s attention.
Forbes also refers to studies which uncovers that consistent presentation of a brand across different platforms can increase your revenue with 23%.
Moreover, it is essential that you can continuously optimize your brand. Consumer preferences change, the market changes, and your competitors are probably on top of this every day. If you lack proper Brand Management that secures a dynamic brand, you will most likely barely see the back of your competitors who are about to cross the finish line.
With that said, a new challenge arises: Without proper Brand Management and a structured brand approach, your brand visuals will most likely be stretched over time. The race to increase visibility and catch the attention of your audience can quickly lead to chaos that leaves your brand guidelines at the sidelines. Proper Brand Management and structure makes sure that guidelines are always respected, and brand consistency is achieved.
As mentioned initially, brand success does not happen by accident. Proper Brand Management ensures know-how of brand presentation and delivery which provides the necessary insight to continuously strengthen the brand.
Also read: What is Digital Asset Management (DAM)?
Structure your brand
We are constantly in contact with different companies spread across different countries. A common denominator they face is the challenge to stay in complete control of their brand. The expectations to deliver instantly and live up to the consumer expectations often comes at the expense of things being done wrong.
Usually it is the lack of a system for storing files needed for marketing activities that causes this. New and old files used interchangeably, and ignored guidelines when deadlines are tight. Additionally, ad hoc tasks adapting to local needs and markets is stressful. It easily becomes arms and legs, and one forgets brand strategies and consistency. This means that campaigns have to be withdrawn, and the work related to branding rarely feels cost-effective.
With a proper brand management solution these challenges are more or less eliminated. Instead of marketing files being stored all over the place, a system will help you structure files and templates orderly and make them accessible. Better yet, you secure clarity in your brand guidelines. Simultaneity, a system will streamline your branding processes for your entire company. By establishing synergies and workflows, your brand will become an assetfor everyone – not just the marketing team.
Also read: How to choose a system for your brand
This way, efficiency is established, your time can be allocated to long-term strategies and value-added tasks. You will always be on top of your brand management, company goals for growth and increased value is within reach.