Brand management: what is it, and why every brand needs one

A brand is shaped by different values, consumers, and the ever-changing market. But establishing a strong brand, especially in a highly competitive and complicated market, is no easy feat. This is why brand management is necessary, whether you’re a big or small business. It helps many marketers bring order and clarity to businesses amidst the chaos brought by modern branding. 

But what exactly is brand management, and how does it work?

It involves finding the right mix of frameworks, tools, and strategies to shape how a brand is presented and perceived.

Think of a brand as everything people think or feel about a company. It has distinct traits, a brand name, and a personality, much like a person. Effective brand management allows you to hone and achieve these characteristics to reach your intended customer base and convey the brand's core message.

Brand identity

Brand identity is the culmination of how a company looks, sounds, and feels. It includes the logo, colors, fonts, images, illustrations, and tone of voice. But beyond aesthetics, a brand emulates specific values that define its personality and character.

This makes brand identity the foundation for everything the brand does. In the process, brand management strengthens, defines, and consistently maintains the brand identity, ensuring it appeals to the right target market. 

Brand values

Trust and brand loyalty are anchored on how well a brand commits to its values. Part of brand management is ensuring the company sticks to them by highlighting authenticity in every step.

Brand values also help bring focus to what the message could be. If a cosmetic brand values diversity and inclusion, it will showcase products that fit different skin tones.

Brand perception

Brand perception is what people think about your brand. Brand campaigns, customer service, suggestions and reviews from other people, and the overall brand experience primarily influence this. That said, brands with positive reputations are more likely to enjoy increased patronage from new buyers.

You can achieve this with strategic brand management. For instance, consistently presenting your brand in a relatable and trustworthy way attracts and keeps customers returning.

Brand equity and value

Brand equity shapes your current standing in the minds of consumers, influenced by customer perception and experience of your brand. Meanwhile, brand value is your company's financial worth, determined by market value, revenue and profit analysis, and Net Promoter Score (NPS).

To achieve your ideal brand equity and value, you need a holistic approach that can help foster a positive experience and image while strategically positioning your brand in the market. In short, find the right balance between the two.

Brand management varies from business to business. But some key steps can help you get off to a strong start: market research and brand audit, strategy development, implementation and management, and monitoring and adaptation.

Step 1: Market research and brand audit

Before implementing a brand management system, companies need to do research. Dig into your target market, competitors, and industry to uncover key insights. This market research will show what customers think of your brand, what they want, and how they feel about it.

Supplement this with a brand audit. Sift through all your past and current branding campaigns and other efforts to see what works and what doesn't. This helps you identify your brand's strengths and weaknesses and discover opportunities and threats to address.

Remember that the market research and brand audit steps are vital in setting the stage for everything else in brand management.  

Step 2: Strategy development

Armed with data, you're ready to map out a game plan!

Here, you'll decide how to position your brand in the market. For example, are you aiming to position yourself as a premium brand? What features or unique selling propositions can help differentiate you in the market?

Next, determine who you are selling to. Do you want to target a younger audience or a high-end market? By clearly defining your uniqueness, intended market, and goal of the brand, you are well on your way to creating a brand management strategy that helps you stand out from competitors and appeal to the right customers. 

Step 3: Implementation and management 

It's time to put your plan into action. You'll develop and design your products at the implementation and management stage, conceptualize and run ad campaigns, and engage with customers.

This is the most tedious part of brand management, as mistakes can lead to misaligned and inconsistent branding strategies. That said, ensure you have comprehensive brand guidelines to refer to, strengthen your internal branding, and listen to your customers. Brand managers can also use brand asset management to ensure consistency across all platforms. 

Finally, a brand management strategy that adapts to different market conditions and demands keeps you ahead. 

Step 4: Monitoring and adaptation

As your brand evolves, your brand management must adapt to meet market expectations. Doing so requires constant monitoring. Fortunately, many different tools are available to do this and more!  

Leverage tools like Google Alerts and social media monitoring to track brand mentions. Periodically survey customers and get direct feedback to know what to improve. You can also engage with them on social media by responding to comments or exchanging messages.

Monitor key metrics like customer satisfaction and engagement rates. If issues arise, respond quickly with established SOPs. Gather data on your brand's progress to inform strategy adaptations. 

Reviewing and revising your brand management plan consistently with your team members is a good branding practice. 

Brand management is tedious and requires the right people to succeed. But is it worth it? Indeed, if you want to reap the following benefits.

1. Increased brand awareness

Brand management ensures a company allocates its branding efforts and resources across relevant channels to achieve optimum results. It also strengthens the brand identity, which is essential in leaving a lasting impression on consumers and establishing an emotional connection.

2. Stronger customer loyalty

Effective brand management takes an end-to-end approach, starting with the visual brand assets and the overall customer experience. When a brand prioritizes creating meaningful connections and making customers feel valued, it cultivates lasting loyalty.

Rewards programs and consistent brand messaging that reflect the brand's core values help attract customers who resonate deeply with the brand's impact on their lives.

3. Competitive advantage

The right brand management strategies ensure your campaigns align with customer needs and values. It also enables consistent quality by upholding your brand's promise. Internally, brand management fosters a healthy work culture that motivates employees and welcomes ideas. This enhances brand reputation through better performance.

4. Higher revenue and profitability

When a brand is well-managed, people are more likely to trust your brand and purchase from you repeatedly than competitors. This can lead to increased sales!

For example, luxury brand Gucci can sell similar items as its lesser-known competitors at higher prices because of its strong brand image. People are less likely to second-guess their purchases. 

Consistency

Consistency fosters trust. Customers become familiar with your brand when you consistently show a unified brand identity and continue to deliver on your promise. It makes decision-making more manageable because they know what to expect from you. It also makes all your marketing efforts work together to reinforce the same message.

Internally, this strengthens your team's understanding of your brand, as consistency defines your identity.  In effect, everything becomes easier as you already have a clear direction to follow, saving you time and money. 

Customer focus

People are drawn to brands that know what they want and anticipate their needs. They also favor companies that strive to create meaningful relationships with them through values, social causes, and the like.

Customer-driven brand management results in happy customers, who are encouraged to buy from you again and spread the word!

Listening to customer feedback gives you the advantage of discovering gaps and other challenges and addressing them before they blow. Content that resonates with the everyday experiences of your target audience humanizes your brand and makes it relatable.

Finally, driving customer focus builds a strong community of people who feel part of something bigger. 

Let’s go over tried-and-tested brand management strategies from the experts. 

Brand differentiation

Brand differentiation is making your brand stand out through unique and beneficial features. For example, you may opt for an unconventional packaging design that captures people, like Liquid Death's punk-inspired canned water. Or how about offering bean-to-bar chocolates for people who are into artisan chocolates?

Other companies also use different logos, slogans, and messages. These unique features help customers see what is special about your brand, making choosing easier!

Rebranding and brand refresh

Sometimes, a brand's image may no longer work because of changes in the target demographic, products, and market demand. When this happens, rebranding is a great way to breathe new life into your company. Companies may change their visual identity to cue a new chapter and refocus their mission, values, and messaging.

Another option is a brand refresh, which updates key elements instead of changing everything. This keeps the brand aligned with the current trend without alienating existing customers. 

Brand expansion

Brand expansion is an excellent strategy for reaching newer markets. It can be triggered by an oversaturated market or a noticeable shift in consumer demand. Opportunities to introduce innovations and diversify business may also call for brand expansion.

Brand expansion doesn't need a total reset compared to rebranding and brand refresh. It can anchor its new products on the existing brand identity, especially if the brand has developed a strong reputation. In effect, this lowers the barrier to entry.

Brand management done right prepares a company for long-term success. Just look at Apple, Netflix, Dollar Shave Club, and TikTok.  

Apple: minimalism and innovation

Known for its simple and minimalist designs, Apple's brand focuses on making technology accessible to everyone, even non-tech experts. The company has also disrupted the market with innovative products like the iPod, iPhone, and AirPods, consistently keeping consumers excited about what's next.

Apple has built a loyal, almost cult-like following of customers who value the seamless user experience and the status symbol of owning their products. As a trailblazer, Apple's innovative and memorable products have given them a significant advantage over numerous competitors in the market.

Netflix: personalized and global experience 

Despite being relatively young compared to its larger competitors, Netflix has become one of the most popular streaming services due to its strategic brand management.

Netflix's brand focuses on providing high-quality, diverse content that audiences crave. The platform allows users to personalize their viewing experience through algorithm-based recommendations or manual controls. Additionally, Netflix's global reach will enable subscribers to enjoy content anywhere, creating a seamless experience.

The brand also keeps viewers hooked, turning Netflix into a cultural pastime. This customer-centric approach has been key to Netflix's success. Its ability to stay ahead of trends with hit shows like Squid Game, Stranger Things, and Money Heist further strengthens its brand appeal.

Dollar shave club: practical, relatable, and fun

How did a small brand like Dollar Shave Club take on a giant like Gillette? By being bold, funny, and relatable in their branding approach.

Dollar Shave Club's brand management strategy is about making people feel they're getting a great deal while being a part of a humorous, hip, and no-nonsense club. This emphasized accessibility and relatability by authentically representing their target audience.

In one of its early campaigns, the Dollar Shave Club founder directly addressed its consumers. He delivered a pitch offering innovative and affordable solutions to men's grooming needs. This campaign went viral and helped build a strong bond with customers. It invited them to "rebel" and support the underdog brand over the industry leader.

TikTok: addictive, inclusive, and creative

TikTok has forever changed the social landscape with its short and entertaining reels, a space once dominated by Meta. How?

It empowers users to create content quickly using templates, filters, and animations. The personalized feed keeps users engaged by showing videos they interact with. Leveraging popular music has also helped many creators achieve viral status.

TikTok's brand management works because it is addictive, personal, inclusive, and fun. The platform stays ahead by optimizing engagement through features like hashtags and challenges. It also encourages collaboration through duets and stitches, celebrating its diverse community of creators.

Brand awareness metrics

Brand awareness reveals how many people know about your brand. Some metrics to consider include: 

The above metrics are some of the many ways you can measure whether you have strong brand awareness. 

Customer loyalty indicators

Customer loyalty refers to the number of people who return to your brand after their initial experience. Below are some indicators to watch out for.

Financial impact

Finally, you can measure brand management effectiveness by looking at your finances. Did you gain more sales as you introduced new products and features? Other financial aspects to assess are your profit margin, customer acquisition cost (CAC), stock price, market share, and return on investment (ROI).

Running a business is tough, and making your brand stand out is even more challenging. It isn’t easy to understand and connect meaningfully with your target audience as everyone is vying for their attention and trust. Hence, brand management is crucial to developing your brand and its overall vibe so that it resonates with people. 

Fortunately, you do not have to go at it alone. If you’re a personal branding beginner, a branding manager, or a business looking for expert guidance in brand management, you can work with advertising agencies to get started. Together, you can confidently build a brand that genuinely connects with your customers and withstand challenges.