Three Tips to Successful Brand Management
Building a successful brand is no easy undertaking for any company. So how do Canada's top brands stay on top?
Building a successful brand is no easy undertaking for any company. It requires a keen understanding of your customers, your business model and your competitors; and knowing how to stand out in a crowded marketplace.
So how do Canada’s top brands stay on top? While there is no one simple formula, here are three tips to help grow your company’s brand:
1. Define and differentiate your brand
Successful brands have a clear definition of who they are and what they represent. Companies typically create positioning, mission and value statements that articulate their brand character. Market research is the first step to defining and differentiating your brand.
> Customer Research – Talk to your customers and learn about who they are and what they’re looking for in the products and services you offer. Once you understand their needs and motivations you’ll be able to communicate and connect with them on an emotional level that resonates.
> Competitive Analysis –Always be aware of what your competitors are doing, how they are positioning themselves in the market and communicating with your target audience.This intel ensures that your brand voice is unique, differentiated and stands out in the minds of your consumer base.
> SWOT Analysis – Take the time to review your company’s strengths, weaknesses, opportunities and threats. This exercise will help define your business’ best attributes and position your brand in a way that is true and authentic to your business model.
2. Consistency is key
Now that you’ve defined your brand you’ll need to roll-out your brand image consistently across all channels. The brand experience needs to be same whether customers are walking into a retail location, buying online or speaking to a customer service representative. All employees need to represent your brand consistently across all touch points. Failure to do so creates a diluted brand voice that is confusing to consumers causing them to go to a competitor with a more consistent brand presence.
3. Stay on top of industry trends
While the essence of your brand will remain steady and evolve slowly over time, a well-managed brand needs to stay flexible and relevant. As industries evolve with trends and emerging innovations, brands need to be able to adapt and tweak their positioning accordingly to accommodate these shifts.
While these three tips provide a quick overview on sound brand management practices, many companies are seeking employees with up-to-date skills and knowledge on brand building best practices and ensuring that the brand voice is consistently communicated to remain relevant in the minds of the consumers today. Programs such as Marketing and Digital Marketing provide the tools and practical experience to stay current in today’s competitive job market.
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