Whiplash Team, 10th March 2023
Brand management, a key to success
Brand management is essential for companies. An effective brand is a powerful tool for differentiating a company’s products and services. It increases the perceived value of what it offers and therefore leads to growth in sales and profits.
Brand management is a crucial aspect of the success of any company since brands are the public image of the company and directly affect consumers’ perception of the quality of the products and services offered.
Thus, For a company, having a strong brand is essential to stand out in an increasingly competitive market. The brand is the symbol that represents the company, and correct brand management can make a difference in the success or failure of a business.
Properly managing a brand implies the development and maintenance of its identity, positioning strategy, communication, and brand protection. Let’s see step by step what each of these things means:
What is brand identity?
Brand identity is the visual image and personality of the brand. Brand identity must be consistent and cohesive across all aspects of the business, from product design to advertising and promotion. It is important that the brand identity is recognizable and memorable to consumers.
Therefore, the first thing that companies must do is establish a clear and consistent brand identity that helps customers remember the brand and makes it more recognizable and memorable. This includes selecting an appropriate brand name, distinctive logo, slogan, and brand colours, as well as a purpose and a set of values that will be communicated throughout all customer touchpoints.
What is brand strategy?
Brand strategy refers to how the company plans to position the brand in the marketplace and how it will differentiate itself from the competition. The brand strategy must be clear and focused on the objectives of the company. Some companies choose a quality-based branding strategy, while others focus on offering affordable products.
Also, brand positioning must be consistent with the brand’s values and must effectively differentiate it from the competition. Businesses can achieve this through advertising campaigns, sponsorship of relevant events or activities, and a well-targeted content marketing strategy.
What is brand communication?
Brand communication is how the company communicates with consumers about the brand. This includes advertising, marketing, and public relations. Brand communication must be consistent with the brand identity and strategy.
Additionally, a coherent and consistent communication strategy helps build consumer trust and brand loyalty, which is nothing more than the willingness of customers to continue buying products and services from a particular company.
What is brand protection?
Brand protection is the management of the intellectual property rights of the brand. Trademark protection includes trademark registration and protection against unauthorized use of the trademark.
Protecting the brand is important to avoid consumer confusion and to ensure that the brand maintains its value.
Your brand is your image, manage it well
As we have seen, a strong brand increases the perceived value of a company’s products and services and has a positive impact on the organisation’s bottom line. These five steps are essential when managing the brand:
1. Define the identity of the brand:
The first thing to do is establish the personality of the brand. What values and characteristics will define it? What image do you want to convey to customers? It is important to know the essence of the brand to be able to transfer it into all the actions that are carried out.
2. Research the market:
Before launching a marketing campaign or action, it is important to know the market in which you are going to operate. It is necessary to know the competitors, the potential customers, their needs and desires. This will allow you to adapt the strategy to market demands and stand out from competitors.
3. Create a brand strategy:
Once the values and the market are known, a solid brand strategy must be established. This implies defining the objectives of the brand, the positioning in the market, the visual identity, the value proposition, and the communication that will be used to convey the brand.
4. Communicate the brand:
Communication is key to brand management. The brand must be present at all points of contact with the customer, from advertising to customer service. It is important to create consistent and coherent communication to keep the brand image in the mind of the consumer.
5. Measure and evaluate impact:
Once brand strategies have been implemented, it is important to measure their impact and evaluate their effectiveness. This will allow you to know if the objectives of the brand are being achieved and if it is necessary to adjust the strategy.
One shouldn’t forget that brand management is a continuous process that requires effort and dedication. By following these steps, you can build and maintain a strong, recognized, and memorable brand.