How do you define a brand? How do you think Starbucks, Coca-Cola, etc. gained, and maintained their popularity over the years?
Creating a brand identity, and maintaining it over time is something that appears to be the need of the hour. Brand management is quite a fancy term that plays a huge role in differentiating yourself from your competitors. Due to strong brand management, Coca-Cola is usually the winner in the brand battle with Pepsi.
Brand management is the magic potion for the long-lasting success of a business.
What is Brand Management?
Before discussing various perspectives about brand management for 2020, let us understand what brand management is.
Brand management is a combination of all the following factors:
A brand is not just about beautiful aesthetics, a brand should have a certain relevance in people’s minds.
The combination of the above-mentioned factors helps in portraying the brand in the best way possible to the intended target.
The major factors playing a role in brand portrayal are as follows:
- Press -release
- Customer Service
- Retail Experience
- Event Management
All the above-mentioned points trigger various touchpoints in the potential consumer’s journey. A brand manager is supposed to keep all the above factors in place to keep the brand on the top. Having said that, it is time to talk about various perspectives on brand management in 2022
Do we even have a brand to maintain?
It is a huge stereotype that brand management only enters the picture once a brand is created, but it is far from the truth. The skills of brand management play a huge role in the building of the brand as well.
The major need of the hour in 2022 is standing out from the competition. In 2021 many independent businesses have come into the picture, thus the competition seems to increase. Thus it is quite important that the brand is communicated and created in the most relevant and unique manner.
Brand managers can use their skills to keep the design, utility, and interaction in check since the start of the business. This will help the brand to stand out from its competition, and create an identity of its own.
Is your brand visible?
Communication and brand visibility are the major factors that help a brand to succeed in its respective domain. If your potential consumers are not even aware of your existence, how do you expect any sales to happen at all?
Brand management is quite important when it comes to brand visibility and transparent communication of the brand. Brand Managers make sure the relevant target audience is reached through various platforms. They will make sure your USPs are communicated in the best way possible through advertising and marketing.
What does your potential consumer desire?
Well, brand-consumer relations are a two-way cycle. Your consumers need to know about your existence, and similarly, you need to know the touchpoints of your potential consumer as well.
Excellent brand management involves the knowledge of your consumer from head to toe. The brand manager should be aware of all the habits, hobbies, daily routines, etc. Based on this information the brand manager positions your brand and moves on to the advertising part of the process. You need to have knowledge about where your consumer is spending his/her money.
It is not just about positioning, you need to create loyal customers, as loyal customers are the only ones that are seen to empower the brand in the best way possible. You need to keep your brand in the limelight through recurring advertisements, but you need to make sure there are recurring sales as well. This can only be achieved through excellent and relevant brand management.
Is your brand consistent?
Remember your brand needs to have consistency, be it branding or communication. For example, Coca-Cola has an iconic branding of red color, Apple is known for its minimal, and neutral color approach. Brand management in 2022 involves a demand towards a recurring pattern, as people tend to forget businesses soon. What is popular now, may not be popular tomorrow, thus be consistent.
An excellent brand manager of 2022 will make sure that the aesthetics of the brand and intangible elements are in harmony. A brand needs to have its voice, and that is reflected through colors, and the language used by the brand. The language can be seen on social media, websites, blogs, and various events organized by the brand.
Logo and design of the brand play a huge role when it comes to creating a language for the brand. Brand Styling is one of the major factors that are included in brand management. There are guidelines regarding where the logo will be placed, what colors to use, and not to use, the fonts, manners of using the tagline, etc. Brand managers have to make sure that the brand is communicated effectively.
Is brand management a never-ending process?
Once your business transforms into a brand, brand management never seems to end, as now is the time to maintain that success. Not to forget, each year the competition in every possible domain is only increasing. Each year is a big challenge to stand out from the crowd.
One wrong move and you can end up losing your business. Once your brand is created, it is time to nurture it in the coming years.
Brand Management is quite a fancy term, but it is equally a fancy job to have in 2022. It is one of the most crucial parts of a business, it determines whether your brand will shine or not. The responsibility is quite an overwhelming one, as a brand manager is somewhat like an owner of the business, who is transforming and growing the business in the coming years.
Success is important, but maintaining it might seem like a challenge, but it is the need of the hour in 2022.