Brand building and brand management is a science and an art. In order to succeed as a business, it’s imperative that you have a basic understanding of branding and how to leverage it to benefit your company and the people you serve. Brand management involves using your limited resources to carve out a unique identity in your market. Here are several key things you need to know about brand building.
1. Brand Awareness
The degree that customers recognize your business or product determines your brand awareness. Whether you’re refreshing an older brand or promoting something new, creating brand awareness is crucial. Highlighting the distinctive qualities of your product or service is a key element. In the last ten years, social media has emerged as one of the most important ways to enhance brand awareness. If you maintain a high level of brand awareness, you’ll generate more sales.
2. Brand Promises
Ever heard of a brand promise? It’s a brief statement that lets customers know what they can expect from your brand and how you serve them. Mission statements, slogans, or taglines may serve as brand promises. Sometimes it’s a standalone statement that relates to the quality of the customer experience, services, or products. Your brand promise needs to be memorable, credible, and bring value to your potential customer.
3. Brand Exposure
If your brand is underexposed and operates “below the radar,” think again and get out of stealth mode. At the same time, it’s unwise to risk overexposure. Most successful brands have wide exposure and a sense of mystique and scarcity. This will increase the level of demand. Study similar brands to yours (the successful ones) to get an idea of how to best balance your level of exposure. There’s no need to be standoffish regarding your brand, just astute in how you manage your exposure and accessibility.
4. Brand Experience
Brand experience has to do with every intellectual, emotional, and sensory experience that is inherent in your customer relationship. It should go without saying, but be sure that your brand experience is completely consistent with your brand identity. Starbucks is a prime example of a well-thought-out brand experience. Go through every customer touchpoint to ensure that the people you serve experience a holistic sense of pleasure and being well-cared-for. Factor customer-facing interactions into your evaluation of the brand experience.
Brand management requires attention to broad ideas as well as fine details. Consider these concepts as you craft your plan.