Your brand is possibly your firm’s most valuable asset. Thus, developing a stronger brand management strategy is your most important task. When it comes to having a brand management strategy, it’s not enough to simply have several bullet points of what you would like to accomplish. Today, brands need both a thorough understanding of why they choose certain strategies and a detailed outline of what their strategies will be.
A successful business can’t survive if it doesn’t have a strong brand management strategy. Without a unified identity, everything – from your content, to your culture and to your core business – can suffer. However, there’s a reason why this problem is so pervasive: Building a strong brand management strategy takes time, effort, and commitment. And that’s where many people can get stuck.
What Is Your Brand?
A brand is best understood as your firm’s reputation – as well as it’s visibility – in the marketplace. The strength of your brand may be measured as Reputation X Visibility. There is another essential dimension of your brand as well: how relevant is it to your target client audience?
Brand management and development is the process of creating and strengthening your brand. This process can be divided into three phases.
- The first phase is getting your brand management strategy right and aligned with the objectives of your business.
- Second is developing all the tools which you will need to communicate the brand. For example, these tools are your logo, tagline as well as website.
- Finally, there is the phase of boosting your newly developed or updated brand.
Brand Management Strategy Involves Intuition
Brand management strategy definitely involves the intuition side of your mind. However, you can also use data in order to guide your direction. One way to gain an understanding of if your brand is on the right track – in terms of its brand management strategy – is to think of it as a story you are telling.
A great story is not just something that you read on a page — it’s an experience. And in order for something to be an experience, it has to have a beginning, a middle as well as an end. At the end of the journey, there must be some sort of alteration from the beginning.
What causes a shift in a story? Tension. There must be tension between your antithesis as well as your thesis.
From a marketing point of view, your “antithesis” is your customer’s pain point while your “thesis” is your solution to that problem. Thus the tension is the customer’s problem itself. This is the heart of your entire product-market fit, seen at a subatomic level. If you don’t have any tension there (in other words problems to solve), then you don’t have a business.
So, at when it all boils down to it, a brand management strategy comes down to one thing: storytelling. Your brand’s strategy is its story, its vision, its heart and soul.
If you want to learn more about brand management then you need to do our Brand Management Course. For more information, please follow this link.
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