What is Brand Management?
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 this is what Brand Management is all about.
In short terms, Brand Management consists of an array of functions and processes within marketing which involves brand 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.
Brand management 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 Brand Management is important?
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.
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 33%.
Avoid falling behind competitors and loose market share
The importance of brand management should not be underestimated. Coming to terms with the growing pains of keeping up with the market and staying ahead demands a system and structure. It is key in order to continuously optimize your brand management processes . 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.
Brand management empowers company growth
You need your brand to succeed with your company growth strategies. Your brand is what sets you apart and provide your company with an identity - leading to brand recognition and ultimately sales. In other words, how you manage your brand will at the end of the day determine the success of your company growth.
Invest in a brand management platform and boost how you manage 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.
A brand management platform structures your brand and make it easier to build your brand in the long run
Lack of a system for storing assets, new and old files used interchangeably, and ignored guidelines is not a good starting point for when building a brand. Additionally, ad hoc tasks adapting to local needs and markets is stressful and takes away your long-term focus. 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 proper brand management software 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
In short, this is brand management. If you add a platform on top of that it will transform the way you manage your brand. Efficiency is established, your time can be allocated to long-term branding 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.
- Brand management structures your brand
- It secures your branding processes
- It puts your brand into context and make it usable for everyone
- It make it easy to emforce your brand strategy across your entire company
- It establishes foundation for long-term brand development
- It provides the control you need to protect your brand identity
- And more...
Want to learn more about how you can become a brand management hero? Check out this whitepaper.