So, you’ve built and launched a powerful brand. Now what?
Brands are complex entities that exist in an ever-changing marketplace. With every passing moment, there are a million ways your brand can be misrepresented, misperceived, or just plain poorly executed.
That’s why brand management is so important.
Brand management ensures your brand remains relevant and impactful as the market changes and your business grows.
In what follows, we’ll take a look at some key questions surrounding brand management:
- What is Brand Management?
- Why is Brand Management Important?
- What Does a Brand Manager Do?
- What is Brand Asset Management?
- What is Brand Asset Management Software?
- The Takeaway
The answers to each of these questions will provide insight into how you can better manage your brand for long-term success.
What is Brand Management?
Brand management is the ongoing process of maintaining and improving a brand’s many interrelated components, as the brand evolves in response to business growth and marketplace changes.
In order for your brand to remain relevant and impactful in the eyes of your customers, it must be continuously monitored for consistency and optimized for effectiveness.
This is what brand management is all about.
Why is Brand Management Important?
In a world where customers make decisions based on emotion and backfill with logic, companies need to carefully maintain every touchpoint where customers engage with their brand.
When it comes to consumer brands, customers often care more about what a product says about them than what it actually does for their lives.
For these B2C brands, brand management can be more important than the actual products or services they provide.
Brand management is critically important for B2B business, as well, however.
B2B businesses should manage their brands as strategic assets they are. B2B brands are the bedrock of competitive advantage, long-term profitability, and company valuation.
By ensuring your brand remains relevant and impactful across its many touchpoints, effective brand management:
- Enables marketing teams to build awareness and generate leads
- Helps sales teams communicate the value of products and services more clearly
- Transforms current customers into enthusiastic brand evangelists
- Attracts top talent by aligning brand experience with company culture
What Does a Brand Manager Do?
So, who’s responsible for brand management? For most companies, it falls to an aptly named brand manager or a brand management team.
Whether an in-house team member or as part of your branding agency’s team, a brand manager oversees five key areas of brand building and maintenance.
Effective brand positioning is the process of defining the unique place your brand occupies in the marketplace.
Your brand’s position should be relevant to your audience, differentiated in the marketplace, and believable based on what you can deliver.
Brand awareness is the process of making your target audience familiar with the distinctive qualities of your brand.
Brand awareness is where marketing teams are critical, utilizing omnichannel programs and initiatives to spread the word about the unique ways your brand meets the needs of its customers.
Brand loyalty is a measure of the affinity customers show for your brand. Cultivating brand loyalty requires consistently managing all aspects of your brand experience.
Consistency leads to familiarity and familiarity leads to trust. Trust why repeat customers become brand evangelists who will augment your marketing efforts.
Brand equity is a measurement of the value of a brand as determined by things like loyalty, awareness, associations, and perceived quality.
One of the key responsibilities of a brand manager is to ensure these assets are trending upward and continually building brand equity.
A final component of brand management is the measurement of factors like brand usage, brand preference, and brand advocacy that impact brand health.
By tracking these metrics over time and adjusting brand strategy accordingly, a brand manager can be sure a business is getting the most of its branding investment.
What is Brand Asset Management?
A brand asset is any file or document that is used for branding or marketing purposes. This includes things like logos, core messages, marketing collateral, and digital media.
Brand asset management is the process of storing, organizing, using, and sharing these assets while adhering to brand guidelines.
Brand assets include:
Your visual identity includes everything from your logo and color scheme to your typography and photography.
Its visual identity is the aesthetic system your brand is recognized for. That’s why it’s so important to make sure it is consistently executed across channels and touchpoints.
Your marketing collateral comprises all the brochures, programs, flyers, and other collateral used to disseminate your brand’s messaging and information.
Managing these assets ensures they are consistently created within your brand guidelines and work holistically as an integrated system.
From your website to your social media accounts to your paid advertising campaigns, it’s essential that your brand is consistent and clear across digital channels.
In today’s world, the majority of stakeholders will experience your brand digitally, which makes the management of digital media assets so critical.
Arguably the most important asset for a brand manager is a robust set of clearly defined brand guidelines.
This go-to document is designed to help internal employees and external agencies understand the proper way to execute your brand assets.
Clearly defined brand guidelines ensure your brand is consistent and compelling, regardless of medium.
What is Brand Asset Management Software?
As you ramp up your brand asset management program, there are several software solutions that can help.
Software solutions like Bynder, BrandVerity, Brandfolder can help you manage your brand assets for easy execution, integration, and collaboration.
Some even offer free access or temporary trials that allow you to see if they’re right for your needs.
Bynder offers a variety of solutions, including digital asset management, brand guidelines, creative workflow, digital brand templates, and more.
Tailored to fit the needs of any brand, Bynder lets you customize access based on role and includes several add-on modules to complement its core platform.
BrandVerity is a powerful tool that allows you to monitor your brand online, enabling you and your team to keep tabs on noncompliance and trademark infringement.
Enter specific guidelines and trademarks and BrandVerity’s AI will search the internet for potential issues, with easy-to-use templates to remedy errors.
Brandfolder is a platform that helps you compile, organize, and share all your key brand assets across your teams and agency partners.
Brandfolder includes a handy tool that allows your entire team to collaborate on assets, launch products, and craft campaigns.
Many companies devote tremendous amounts of time and money to crafting the perfect brand, only to let it wither on the vine without effective brand management.
Branding experts know that launching a brand is just the first step. From there, it’s critical to implement ongoing brand management practices that monitor, maintain, and optimize each of your brand assets.
Effective brand management ensures everyone from internal stakeholders to external audiences have a rock-solid understanding of what your brand offers, what it represents, and what it means to them.