6 Major Principles of Brand Management for Successful Business
As far as brand building is concerned, most companies make the mistake of taking a shot in the dark without a clear, unified brand strategy and message. Building a proper brand identity and voice, then applying it with consistency will eventually make all of your marketing communication endeavors more productive, resulting in a remarkable ROI over time.
Although it is very easy to get hung up on favorite content tone and colors, a successful brand rises above the competition to deliver a more profound purpose that resonates with an audience.
Obtaining clients and making money might be your company’s primary objective, but your purpose needs to emphasize a willingness to accomplish more than just profitability. For instance, IKEA’s vision isn’t just to sell furniture, but instead to “create a better day-to-day life.” This approach remains alluring to potential customers, as it demonstrates their commitment to offering value beyond the idea of a sale.
Ultimately, a comprehensive brand strategy with a concise message cannot be truly operative without consistency. Marketing strategies are bolstered over a cohesive brand language but can fall feasibly flat when the tone or style is scattered. At the end of the day, consistency remains imperative to brand recognition, which fuels customer loyalty.
Building a brand is no easy objective and can feel a bit like climbing Mount Everest. The key is to take it one step at a time:
Audit & Research
A strategic and in-depth research and audit process will lay the groundwork for all future branding strategies. To obtain a historical perspective and a thorough understanding for your brand equity, you need to begin by analyzing all of your existing marketing materials including your vision, mission statement, value proposition, business plan, organization chart, marketing plan, existing market research, annual reports, employee surveys, CEO speeches, press releases, brochures, news stories, current website and more. In addition, interviews should be carried out with both internal staff and external customers. During this phase, it’s also essential to analyze and review your competitors’ brands as well.
Define Your Brand
You can start establishing your brand architecture with the help of Chatter Marketing Tulsa by deciding and explaining what precisely you want to brand. Do you want to brand your organization as a whole? Or perhaps you want to brand individual services/products within your company. Further, you need to determine the singular core objective of your brand – your Brand Promise. For a more explicit description of the brand, you are supposed to research your brand drivers. In a nutshell, brand drivers are a list of advantages that consumers receive by using your service/product. To summarize this phase, launch a brand persona. If your brand was a person, what characters would they have? Sincerity? Sophistication? Excitement? Assigning human traits to your brand can enhance customer loyalty and result in enhanced brand equity over time.
Place Your Brand
Now, it’s time to place your brand within the mind of the customer. It’s crucial to remember that your brand may mean different things to different individuals. It’s essential to section your target market into small groups and establish value propositions for the individual group.
Express Your Brand
Ultimately, all the hard work can start paying off, and your brand can start to take shape in the form of look and feel with the help of Tulsa’s Chatter Marketing. During this phase, it’s advisable to establish a logo, name, color palette, typography, imagery, and tone of voice.
Your branding tactics will be for naught if nobody understands or knows your new brand. All of your research, visual assets, and positioning statements need to be combined into one cohesive, comprehensive, Brand Book (frequently referred to as a Style Guide). When done appropriately, this book will ensure consistency, both externally and internally. Don’t overlook the significance of consistency. Live it. Learn it.
Measure Your Brand
Establishing your brand requires significant research, time, and resources. Once you have established your brand, you can’t just let go and forget it. A brand needs to be measured and monitored consistently. Measuring external and internal performance will include speaking with both your staff and customers. Ask your team if they recognize the customer insights, target audience, and brand drivers. Ask your customers if they identify your logo, distinguish what your brand stands for, and hold an impression of loyalty to your brand.
It’s no wonder that emotion is most frequently the driving force behind a customer’s decision to offer you their business, and when the exact emotional chord is struck the foundation for a relationship is laid. An effective brand strategy needs to consider all the above parts and dictate the desired experience through all touch points clearly and consistently. When done right, a comprehensive brand strategy will boost customer loyalty, fuel all future marketing efforts, and offer a significant return on investment over time.