Brand management techniques. Once you have established the identity of your brand, you have to decide how you are going to get your message into the marketplace and engage people..
Brand management techniques
Building brand awareness is about repetition, you can do this through advertising, radio, mail shots and events bearing your brand name aimed at your target market. However, the following brand management techniques are also worth considering:
Storytelling – telling your business’ story through corporate identity, packaging, stationery, marketing materials etc.
Credibility – your brand’s claims must be credible and appropriate to your values.
Differentiation – show that you have something unique that sets you apart from your competitors.
Engaging with customers – if you stand out from the crowd for positive reasons and your tone of voice and communications are credible, customers will look at what you have to offer.
Focusing your product portfolio – initially focus on a number of key products or services to make your offer easier for your consumers to understand.
Multiple brands and brand ‘stretch’ – if your company operates in more than one sector you need to consider how you present the business in each area. Your brand identity could incorporate all of the areas you operate in much like Virgin. This is called ‘brand stretch’. However, it may also be more effective to develop a new brand to meet new markets such as Toyota’s Lexus.
Endorsed brands – you can create a new brand in its own right but use the ‘parent’ brand of your main company to endorse the new brand. An example would be Playstation, a powerful brand in its own right but endorsed as Sony Playstation to build on the established reputation of Sony.
Reinvigorating your brand – keeping your communications fresh is essential, you don’t have to start from the very beginning or reconsider your big idea, vision or personality. Messages and images should evolve to take into account changing fashions and perceptions.
Naming – brand names set the tone and personality of your business and are a key element in marketing activity. Your brand name should reflect your overall brand strategy. Names can either be descriptive such as General Motors or Easy Jet; evocative such as Innocent or Amazon or family names such as Darke Studio and Goldman Sachs. It is important, however, to check that your choice of name hasn’t already been used as names are often protected by law.
Consistency – the same attributes and characteristics of your business should be incorporated into every sector of the market that you operate in and every product that you produce. Consistency continually reinforces your business’ personality building familiarity and trust.
If managed well, brand building can create a powerful and long lasting effect upon people; it can be a significant driver in the success of your business and create feelings of loyalty and trust.