Brand Management - 11 Principles of Successful Brand Management

Brand Management – Brand management can only be effective if and only if you can connect with your customers across familiar business platforms. The goal of this strategy is to increase the interaction and engagement of customers with the business, help change perceptions, predict product expectations, and improve relationships with your “gods”.

Obviously, the essence of brand management is to build a bridge connecting the relationship between the brand and the target audience. A good brand management strategy will help optimize communication, Marketing, PR, and social media activities. Thereby, you can completely refine and transform your core products/services to give customers the best user experience.

With what brand management can bring, we cannot deny their importance to the communication and promotion of products/services. Especially in the context of the industrial revolution 4.0. It’s at its peak, where every single impact you make in the digital environment can be incredibly beneficial and effective.
Here are 11 principles that help you be successful in the Brand Management strategy – brand management.

But first, let’s learn about:

Brand Management – 11 Principles of Successful Brand Management

What is Brand Management?

Brand management is the process of improving customer and public awareness of a brand. To do this, businesses need to focus on developing awareness, identity, brand equity, as well as customer loyalty to the brand.
There is a difference between branding and brand management:

Branding is the process by which a business builds and develops a brand name from zero. While brand management is the backside of the problem: How businesses maintain and develop a brand reputation, through activities. monitoring and revising as needed.
In a society that develops at breakneck speed, your brand also needs to change, adapt to new trends, new reel. If you consider the brand as a story, then brand management is a form to control and coordinate it, to create new versions that are more attractive and more trendy.

Brand management seems simple, but incredibly difficult if you are at a crossroads. Don’t let you wait too long, here are 11 basic brand management principles that will hopefully help you set the right direction:

1. Define your brand

Let’s start with the very essence of a brand – its uniqueness, its goals, its vision, its standing, its attributes, and its values. Focus on the best aspects of your brand that help you convey the quintessence and beauty of the product/service you offer.
There are dozens of typical cases where wealthy companies are willing to spend millions on buying “little fish”, and then have to quickly pity selling them to cut losses.

READ MORE :  How Can Small and Medium Businesses Grow On Instagram Post Covid-19?

Microsoft used to buy Razorfish – a rising star in the field of digital marketing, but because of the disagreement between the goals and strategic vision between the two sides, Microsoft had to quickly release the swordfish for $ 530 million, only equal to 10% of the money Windows boss spent in 2007.

2. Brand is a reflection of your business model

Support and challenge your business to maximize the potential benefits your brand can bring. Think about the top personal brands like Barack Obama or Richard Branson (the boss of Virgin Group). Nearly these outstanding individuals have built their career structure based on their own charisma.

Is it possible that a business brand is just an extension of the brand from themselves only? So that. Your brand should be a reflection of what is part of the nature of your business.

3. Uniformity, Uniformity, and Again, Uniformity

The consistency in the messages conveyed to customers (with the core values ​​of the business) is always the key to set you apart and stand out from the crowd.
Consider the following examples: Obama in his 2008 US presidential campaign speech always emphasized one (and only 1) message: Change.

The monster in the car industry, despite infinite variation and creativity in advertising campaigns, always directs viewers towards a core motto: “The Ultimate Driving Machine” – Dark car engine upper.

4. Consult with many dimensions

The hard-working, industrious employees in the business can completely become powerful assistants, speaking out in a clear and honest way about their feelings about the brand. This can give you incredibly effective results.

That is exactly what the online fashion retailer Zappos has done to change the perception of customers about the brand. So remember carefully: Consult multiple dimensions (possibly from skilled employees in the business) about the brand, before launching them into the market.

5. Connecting to the “emotional” space

A brand is not just a logo design, a strange name, a Web page, a few ads, or a simple PR campaign. It is something bigger, an idea of ​​a product/service that can touch the feelings and thoughts of a shopper.

Take for example the chain of coffee shops Starbucks. Starbucks offers customers a great experience, a great space to enjoy coffee and chat with friends, a unique taste that is difficult to mix with other places, a place to go back, where customers often visit.

Despite the fact that they have to pay for higher-priced coffee mugs than other brands. The advice here when you build a brand is: not only to care about the tangible aspect of the brand, the emotional aspect of the customer is also an important factor determining their satisfaction when experiencing. products/services.

6. Brand is not just the story of an enterprise

What makes big brands like Apple spread their influence around the world? Let’s try a little test:
You try to visit and talk to a fan of Apple, who often lined up to be the first to hold, own each sale of the new iPhone line.

READ MORE :  Take Your Business To The Next Level With SEO

Probably the whole day can not express all their enthusiasm, burning, and intense passion for the products of the apple family. Every time an Apple product comes out, it’s really like a festival for Apple believers.

So, the crux of the problem here is what? Businesses need to build a community of people who love and worship your brand. Let them convey your brand message in the most natural way, as Apple does to their fans.

7. Flexible as water droplets, but making sure they match our core values

Good brands are ready to adapt to any change. But remember: Branding is a process, not a race. The core of the problem is that you have to be as flexible as the water droplets, but don’t forget to align them with the core corporate philosophy.

A great brand manager never uses a simple marketing tactic because it has been successful in the past. The world has changed from moment to moment, should the marketplace outside standstill?

Therefore, businesses need to show how they create and adapt quickly to the changes of the times. But do not forget to reference them with the values ​​that make up the brand name.

8. Align specific tactics with your overall strategy

Communicate your brand message on the most relevant media platform using specific goals. Every day, consumers are overwhelmed by dozens of innocuous advertisements. It’s so much it becomes counterproductive and makes people uncomfortable.
Many customers actively block Internet ads or switch TV channels. Invest your branding efforts on the right media platform to convey it to the right target audience.

While TV advertising can be expensive, it also has wide coverage and can deliver big results instantly. On the other hand, social media is much cheaper, but customers have a longer time to “infuse” the message. Your business’s efforts may not pay off.
So, be flexible to align specific marketing tactics every time something is wrong. But remember the previous lesson: Closely align change with the strategy outlined initially.

9. Measure the effectiveness

Focus on return on investment (ROI), which is the primary metric for measuring the effectiveness of your branding management strategies. It usually depends on how much your brand has been hit after implementing overarching branding strategies.

The effectiveness of the metrics also accurately reflects your brand equity, ie how your customer responds to an adjustment of product/service quantity and price. Adjusting the value of the brand must lead to an increase in sales and profits. But make sure you’re not just focusing on increasing sales, as you can achieve better margins by cutting down on costs in general.

READ MORE :  How Software Assist you to Increase the Productivity of the Business

There are many different ways to test and measure the effectiveness of a marketing campaign/tactic in addition to ROI, but remember, what you do must be closely tied to the initial overall strategy and value. the brand’s core.

10. Keep your opponent close to you

Even if you have one of the most coveted brands globally, you must always be ready for new competitors with more shocking prices to enter the market. A market, for whatever product or service, is never small enough to discourage new players from entering and creating competition.

You always have to face another competitor that offers faster, better, and more importantly, cheaper services/products. Let’s call them a competitive economy, the challenge from pricing strategy, or whatever, but more importantly, it helps you develop new, more efficient, and innovative strategies.
And you may not believe it, but it really does add value to your brand.

11. Have broad visionary

IDEO CEO Tim Brown calls design thinking a process for creating new options. Basically, it’s not just confining to the alternatives, but also thinking outside of the framework.
This concept, essentially, applies to the brand technique creation handle that specialists regularly call the title brand methodology considering (brand procedure considering).

It is easier to come up with more specific strategies, rather than introducing a new overarching strategy because that could imply a great possibility of failure.
In addition, it also makes it easy to “copy” the success of your competition, instead of having to start with something completely new.

12: Customer engagement

The customer, broadly a community, is the person who plays the most powerful role in a commercial relationship. They are the people the business needs to connect with, and can also build a community of loyal customers with the brand – a new kind of “religion”.
To win the hearts of customers, you need to connect them with your brand. An interesting approach that many large businesses use today is to allow customers to participate in the process of building and managing brands. Customers are asked about the packaging, product design, the price they want, …
If they are involved in the process of building a brand, customers will tend to engage and be more loyal to them.

Summary

Brand Management – Brand management is the bridge connecting customers with the brand. You need to accurately convey the value of your brand with the real experience that customers can get when using the product/service. You shouldn’t just copy your competitors’ successes, but engage and adapt your business’s core values.

Therefore, what you need to do when building a brand strategy is to consult with stakeholders in the business (such as partners, employees, …) to build a relevant strategy. closely linked with the core values ​​of the brand, in order to bring the best service/product experience to customers. The results will definitely make you feel satisfied and satisfied.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here