5 principles of brand management every company should follow
Posted by prajval rajeshirke on August 17th, 2019
If you are aiming to sell your products and services to a group of customers, it is ideal first to connect them all in a common platform. You can then gauge what is in store for each of them. The goal of communication is to take change perceptions, diagnose expectations, and forge clarity in dialogue. Every strategic brand management revolves around this development. This process builds trust between the audience and you.
To bring your product or service into character, the brand strategy requires you to utilise mediums such as advertising, social media, marketing, and PR. Brand management aims to effectively communicate the brand USP, resonate with the audience, and persuade them to purchase the product. This is how you build an emotional connection with the brand.
Every media school mentions good brand management builds the corporate image and the brand manager has to oversee the brand performance.
Be it school of communication or brand courses; they ask the aspirants to follow these principles:
1) Define the brand: Branding is all about authenticity. It is a culmination of crucial message, mission, vision, position, character, and value. Focus on what your company excels in and communicate the strengths accordingly. There have been instances where companies have acquired other brands that do not fit the organisation’s culture. They later sell them off.
2) The brand is a business model: Support and challenge your business to earn maximum profit from your brands. Think about individual brands such as Richard Branson, Martha Stewart, or Barack Obama. Their brands are right at the top and whatever they offer is part of their brand promise.
3) Consistency: Maintain consistency in your key message. That way you can easily stand out from the other brands. In all reference points, maintain the same message. Barack Obama, during his 2008 presidential elections, focused on change. BMW has ‘ultimate driving machine’ as its core USP.
4) Inside out: All the people working in your company, i.e. the staff and those associated with the brands know the story behind the brand. It is precisely what you have to convey to the audience as well. In fact, the story forms the base of strategic brand management. The impact should break through the marketing walls.
5) Connect emotionally: A brand goes beyond the logo, campaign, taglines, website, public relation exercise, and TV commercials. These are merely tools. The brand is a broader concept. It is people, places, experience, and services. Always try selling something to people that do not satisfy them physically but emotionally as well. They will slowly start resonating with your brand.