When you communicate the value of your business, product or service to potential buyers you first create its brand persona, then create brand awareness, later on brand advocates and through this build brand equity (brand value).
Your brand is a living, breathing thing, which means it’s constantly changing. It’s also very susceptible to external factors like news, trends, and current events.
In a world where journalists, influencers, and social media users influence virtually every narrative, brand management is how you can take control of your business’s story.
It is using your branding and brand assets to communicate value and build loyal relationships with your followers, fans, and customers.
The goal of an effective brand strategy is to measure and control credibility, perceived customer value, satisfaction, customer loyalty and brand awareness – in other words a good reputation.
These are the four most important aspects of a successful brand management plan:
- Awareness – Customers get to know about you
- Reputation – They like you
- Equity – They see value in buying from you
- Loyalty – They can’t live without you
Brand management extends far beyond marketing.
Brand management should be intertwined with sales, human resources, and customer service — basically, any department that “touches” your followers, customers, and even potential employees.
With professional judgment and discretion that comes from years of experience, RD develops, implements and executes initiatives and activities for a particular brand, driving market growth and raise equity.