What is all the hype about brand management?

The term ‘brand management’ refers to the process of building, managing as well as improving a brand. The process begins with having a thorough understanding of the term “brand”. This means that brand management includes:

• Developing a promise, as well as
• Making that promise and maintaining it.

Brand management means defining the brand, positioning the brand and delivering the brand. It is about the art of creating and sustaining the brand.

How do you create a brand through proper brand management?

• Perform thorough research on your target audience as well as your competitors

Who is your current customer base?

Sift out common characteristics and interests among your customers. Determine which ones are responsible for bringing in the most business.  It is very possible that other people such as them could also benefit from your product/service.

In addition, look at who your competitors targeting as well as who their current customer are. Whatever you do, don’t go after the same market. If you do, you’ll be considered as unoriginal and will force customers to choose based on price.

• Pick your brand focus and personality

Successfully tapping into the power of personality for your brand necessitate thought, planning and consistent effort. This process requires you to:

• Appeal to your target audience’s needs and values,
• Showcase your intelligence and sense of humour, and
• Keep things professional.

It’s a tough process but the payoff for your brand identity is more than merely monetary. Defining your brand identity correctly  engagement on a grand scale. It’s enticing brand influence that dictates as well as demands loyalty. It’s the capacity to bring in other brands who are willing to pay to share your limelight. In short, brand personality the key to real prosperity.

• Choose a name for your business

While there are a number of different rules as well as exceptions on what should be encompassed in a good business name, experts have agreed on several common elements.

1. A business name should highlight the message that you want to portray. The name you choose should echo the characteristics that you want to convey to the customer. The best names respond so well to a customer’s needs that it seems obvious to them why you should choose the business.
2. A good name should be short. It should be between two and four syllables as well as easy to pronounce. Name that are short are ideal as they have a tendency to be very brandable and are extremely easy for your clients to remember.
3. While your business name may include new or existing words, there are advantages and drawback with each option:

• Invented words – for example Exxon – limit the risk being confused with your competitors. However, it can take much time and marketing before your business meaning is recognised by customers.
• Existing names come with their own meanings which are established however those terms are also likely to be utilised by some of your competitors. A chief concern about using a common-place term, as part of your business’ name, is if trademark and domain names are available. This is because many common words are already taken in these areas.

• Write your slogan

Here are five tips for writing your company’s slogan:

1. Highlight a key benefit that you bring to the table.
2. Explain what the company is committed to.
3. Keep your slogan short.
4. Slogans, whether they are read or heard, should be pleasing to listen to. Rhythmic and fluid-sounding slogans are much more recognisable and memorable.

What does all this all result in? if you have a suitable brand management strategy this will bring meaning as well as clarity to your product or service. This will mean that you are able to focus on making, creating and selling things that your audience genuinely cares about. Once you do this your brand will turn out to be unique as well as memorable it its own way and earn. You’ll earn a phenomenal reputation in the market.

Get in touch with the Digital School of Marketing

If you would like to enter the exciting world of brand management or digital marketing, then look no further than the Digital School of Marketing for all you educational course needs within the marketing arena.