Brand management is the strategic maintenance of a brand or product in a specific market. Successful brand management ensures more sales but, above all, a good image and creates specific values that customers associate with a brand from now on. Differentiation from competitors is also an important goal because a successful brand is one thing above all: distinctive.
Brand Management: Ensure Brand Consistency!
Brand management done by https://promorepublic.com/en/ for example must be a process. Companies that own many brands and work with many partners or agencies face the challenge of ensuring brand consistency. Brand management is, therefore, an ongoing task. Companies invest heavily to protect brand integrity, especially when communicating across many channels. You must ensure that all marketing materials are appropriately branded and comply with the company’s branding guidelines. Those responsible must ensure that the content is always up-to-date and relevant and that the latest versions are used.
Benefits Of Brand Management
If brand management is implemented correctly, it leads to a strong brand relationship, i.e., the development of an emotional relationship between customer and company. The long-term goal is brand loyalty, i.e., a customer’s brand loyalty for a specific company. If this occurs, customer loyalty is successful. This pays off: It has been proven that continuous brand maintenance and positioning leads to greater sales. You can also measure a brand’s monetary value, the technical term for brand equity.
Key Benefits Of Brand Management At A Glance
- Higher sales by building relationships with customers
- Stronger perception of own brands
- Long-term customer loyalty
- More freedom in pricing
The last point, in particular, is often overlooked: anyone who practices effective brand management and builds strong brands can set higher prices. Because the brand then has specific brand equity, i.e., added value for the customer willing to spend money accordingly.
Creation, Use & Communication Of A Brand
Of course, a brand does not manage itself with gut feeling. Brand managers usually work with the help of guidelines and tools for local marketing in which central components of the brand are defined. Just as important: all components (picture world, colors, logos, fonts) must be accessible – company-wide but also for partner companies, agencies and dealers. The more stakeholders there are, the more important it is to protect brand integrity. The brand manager also takes on this task: They select suitable components, communicate the guidelines mentioned to partners and monitor brand consistency, usually in the form of monitoring all brand-relevant content.