More than 500,000 businesses compete for your attention, and it’s easy for yours to be buried. The essential thing is to keep your brand in front of your customers’ thoughts and ensure that they are aware of it. Why do so many people fail at building a brand? Using brand management.
Find out what makes brand management successful and learn from some of the best branding tactics ever created.
The fundamentals of a successful brand management strategy
Companies need to maintain their brand in order to stay relevant in an ever-changing marketplace. All on-brand initiatives, including marketing and product plans, serve as the foundational element.
It is possible to preserve your market position, grow income, and finally prolong the lifespan of your business if you do it correctly. The following are the cornerstones of a successful strategy for building and managing a brand:
Brand recognition is the key to success.
Would you be able to identify a specific logo if presented to you? That would be brand recognition if you said yes.
The route to brand recognition for a business begins with generating awareness or informing people that you exist. You should expect better recall as people grow more acquainted with your company’s name. If you are successful, your brand will leave a lasting impression on the minds of your customers, triggered by simple signals such as your logo, packaging, or even the colors that you utilize.
Get people’s attention.
Starting with the fundamentals is the best way to get there. One of the first things you need to do is get people’s attention. You may, for example, design a logo that shows your business’s personality or that emphasizes the aspects of your brand with which your target audience can identify.
Your packaging, marketing, website, and salespeople should also harmonize to promote brand awareness via all of your brand touchpoints.
According to a Stackla poll, 86% of customers choose businesses that are faithful to their brand message or are real in their approach.
The apparel shop Monsoon is a good example of this. With the use of social media user-generated content, Monsoon expanded its market share. Customers of the business were encouraged to use the hashtag #mymonsoon on Instagram to share images of themselves dressed as if it were a Monsoon day.
In keeping with the company’s stated goal of “enriching daily life with natural beauty, optimism, and limitless discovery,” the images depicted regular ladies that many could identify with. The company saw a three-percent increase in sales after aligning its marketing efforts with its mission statement.
When done regularly, you may get your brand in front of customers’ minds, making it easy for them to associate it with a certain product niche. All brands want to achieve this level of recognition.
Use the power of emotions to your advantage
Is there a certain emotion you want people to have when they come across a post about your business on social media or your product packaging in a store? Excited? Happy? Sentimental?
Connecting with your customers emotionally is a key part of humanizing your business. One of the most effective brands globally at building an emotional connection to its audience is Coca-Cola.
Utilize daily mundanities
They launched their “Happiness begins with a grin” campaign as part of a larger marketing effort. A commuter on the train cracks a smile as he plays with his tablet. Everyone in the room quickly joins in on the giggles as he spreads his contagious laugh. When Coca-cola employees give out Coke bottles to passengers, they’ve successfully linked the brand with positive emotion.
Conscious color selection
Your brand identity is a great place to start when it comes to developing emotional connections. In certain cases, a brand’s core color palette has a specific purpose for being chosen. For Facebook and Zoom, light blue was the color of choice because of its welcoming appeal.
On the other hand, the color red conjures up thoughts of strength, urgency, and excitement. As a result, it’s a popular option for restaurants and food delivery services, increasing customer demand. KFC’s commercial, which depicts the restaurant’s famous fried chicken bucket against a crimson background, is a good example.
Build a community of devoted consumers.
With these concepts, you may build a pipeline of loyal clients that will help you grow your business. It’s never a bad idea to work with the right celebrities and influencers to get the word out about your company.
Consumers, particularly the younger generations who are tired of celebrity endorsements, are more likely to believe feedback and testimonials from actual people. To increase the value of your brand, you need to build a community of devoted customers/brand advocates.
Set up initiatives to reward customers that purchase from you again and again. Create platforms for consumers to voice their opinions and discuss their experiences with your business, such as online forums and social media communities.
Take the initiative
The most crucial thing is to respond quickly. Take part in every discourse about your brand and be fast to identify and fix issues.
For example, The Farmer’s Dog, an online retailer, keeps in regular contact with its consumers in order to foster loyalty. In addition to providing a healthier alternative to regular pet food, the website helps the customer customize their purchase, particularly during the order customization phase.
This observant stance seems to be paying off. The Farmer’s Dog has had a 500% surge in year-over-year growth in the last year, thanks to a growing pipeline of like-minded individuals spreading the word about the brand.
In the same vein, whereby, a video-conferencing platform offers a unique reward scheme to keep its clients engaged. Instead of direct incentives like freebies and coupons, the company has developed an environmental campaign.
Whereby will plant a tree for every three video meetings held on the platform. Mission-driven, the campaign’s goal of planting one million trees in various African regions was met with great success.
Work hard to build a positive reputation for your company
You also need a staff that is consistent with your brand. Customers are more likely to buy your product or service if your staff are happy and proud of your company’s brand.
By building an inclusive and supportive work environment, you can help your employees better connect with your business. You may also provide perks, employee appreciation initiatives, and training sessions.
An online dating platform called Bumble has made headlines for providing its staff with a paid week off. After a year of stress brought on by the epidemic, a much-needed break: Employees proud of Bumble and less inclined to quit the company have a 93 percent satisfaction score with the brand.
A happy workforce leads to happy consumers!
Don’t let your brand become stale! Stay updated by innovating.
Rebranding is natural when a brand fails to meet its goals, particularly in establishing brand awareness. The issue is that once they discover a recipe that works, they are typically too hesitant to experiment with it. Their opponents are already far ahead of them when they decide to reorganize.
Adapt your brand to the changing times.
Adaptability is a must for success in today’s market. Data is your greatest friend when you’re looking for new ways to solve problems and create new products. Your employees should be open to new ideas as well. After all, your employees are the face of your company. Collaborate, give training, and hire people with various backgrounds.
Also, don’t forget to allow your logo design to change over time!. Keep up to speed with current brand trends and incorporate those most appropriate to your graphics into your work. And this is a key factor that ensures the longevity of a brand.
As an example, even though Google is the world’s most popular search engine, the company continues to improve its products and design. Every time Google changes its logo, it is also a symbol of the company’s progress in product innovation.
What happens if you don’t innovate? Fading away from the public eye
Nokia is a good example if you’re still not convinced. It refused to recognize the market shift to Android handsets as it became used to its success. A mistake that cost the company €2.43 billion in lost revenue.
Conduct your research
When it comes to figuring out how to innovate, the solutions are often there. Analyze client data from inside your own company to identify purchase patterns. Take a deeper look at your visitors’ online behavior using Facebook Insights and Google Analytics tools. You can make well-informed judgments by using these resources.
Charles & Keith, a fashion shop based in Singapore, is known for its innovative spirit. The firm established its eCommerce site in 2004, delivering to 70 countries across the globe before eCommerce took over the internet. The company now has a mobile shopping app and a robust social media presence, on top of everything else.
The success of the Asian brand drew the attention of the French luxury firm Louis Vuitton Moet Hennesy (LVMH), who purchased 20% of the company’s shares.
Simplicity is the best remedy
To be innovative does not need a lavish lifestyle. Improving your brand so that the customer’s smooth and clear experience is the most important thing. The best way to do this is to make your notion clearer and more concise.
Amazon’s 1-Click Ordering made single-click ordering popular, and eCommerce firms have jumped on the bandwagon. Instead of having to re-type your payment and shipping information each time you place an order, this information is maintained in your account so that you only have to input it once.
It’s vital to stick to a clear and consistent brand message regarding marketing activities. By doing this, your staff will better understand what your brand stands for and how to work with it.
DollarShaveClub.com, a razor membership service, ran a humorous but relevant advertisement in 2012. Buying a month’s worth of razors for only $1 is the company’s pitch in its straightforward commercial.
Customers were encouraged to focus on just the most important qualities, such as a stainless-steel, high-quality but inexpensive razor, rather than the frivolous ones in the competition’s ads. Razor handles don’t have flashlights. Using numerous razor blades is unnecessary.
However, simplicity does not imply boredom.
Just take a look at this Father’s Day commercial showcasing fathers in bikinis. Adverts for grooming products are generally full of toned torsos, but this one was refreshing.
The constancy of DollarShaveClub.com’s branding paid dividends. Its biggest rival, Gillette, has lost 24% of its market share for safety razors.
Pay attention to your clients and get to know them.
Customers are irritated when their suggestions and complaints are ignored. According to research, 86% of consumers are willing to pay extra for a better brand experience.
Be willing to accept and respond to criticism.
Negative feedback may be demoralizing, even if you’ve done your best to create excellent items. Instead of taking criticism personally, you may use it to motivate your team to take positive steps ahead with your business.
Consider putting feedback boxes in your stores and conducting surveys whenever you launch new goods or make significant adjustments. The use of social media and survey-specific sites like SurveyMonkey or MailChimp may make it simpler to distribute surveys and gather responses.
Consider talking to your sales team and keeping a log of what your customers have to say.
You can gain a pulse on your market, assess trends, and identify areas for development for your business with the help of diverse consumer insights from various sources.
Maintain a consistent approach to your work.
IKEA has been dedicated to its mission of “better daily living for the many people” for nearly 70 years. How? IKEA is a firm believer in the potential of data and consumer insights.
The company sends a team of specialists to various houses and examines different people’s habits in order to identify growing needs and concerns. Their invention approach relies heavily on this method.
Some of the company’s results are available in its Life At Home report.
Thus, IKEA has developed to advocate for inexpensive and environmentally friendly items. Its 11,000-acre forest serves as a sustainable wood supply for its furniture line, which includes items manufactured from repurposed materials. It is an indicator that the company cares about its customers, particularly in a more interesting market for environmentally friendly items.
And it seems like IKEA is on the right road in that regard. According to current estimates, global demand for eco-friendly furniture is expected to reach $50.1 billion by 2027.
A brand’s ability to boost customer happiness and loyalty may be attributed to its emphasis on the individual consumer.
Create a long-lasting brand.
Maintaining an effective brand is a complicated process. An ever-growing number of client touchpoints in an increasingly digital world makes keeping track of new technologies and brand management tactics difficult. Having an A-team that is well-versed in the fundamentals of building a brand will allow you to take your company to the next level.