Estimated reading time: 9 minutes
Today we are going to talk about how brand management drives business differentiation.
Branding and brand management are crucial parts of marketing. These efforts are important for developing a brand that stands out in the market and, ultimately, increasing the value of your brand.
In this article, we’ll review how brand management can set your business apart in 2023. We’ll start by discussing what brand management is before we dive into ten ways brand management sets your business apart.
What Is Brand Management?
Brand management is a marketing technique designed to improve your brand’s value in the eyes of your target market. It is an umbrella of efforts and activities that range from developing your brand to managing how it appears in different media — think of a consistent color scheme on your website and social media channels as a basic example.
The concept of brand management has some overlap with public relations (PR) in the sense that it is meant to manage how your audience perceives and interacts with your brand.
However, brand management is more geared towards increasing the value of your brand, while PR is geared towards gaining attention, typically through press coverage.
10 Ways Brand Management Sets Your Business Apart
Brand management and branding sets your brand apart from your competitors in many ways. From building brand recognition to allowing you to control the narrative, there are a variety of benefits to this technique.
Let’s take a closer look.
1. Builds Brand Recognition
One of the most significant ways brand management drives differentiation for your business is by building brand recognition. By creating brand recognition, your target audience will be able to pick your brand out in a crowded market.
This is especially valuable in markets with a lot of competition. Let’s say, for example, you have a beauty brand. The cosmetic shelves at stores like Target or Walmart are full of many options. When somebody is looking for a new product, they’re more likely to choose yours if they recognize the brand name.
Here’s a hot tip: knowing how impactful your business name can be in securing memorability among your audience, consider using a business name generator to develop eye-catching names.
With great brand recognition, it’s also easier to release new products, even if they are a bit different from what you’re currently selling. When done right, brand recognition also comes with a certain level of trust.
2. Creates Uniqueness
Effective brand management can make your brand unique. You can create unique imagery and messaging that sets your brand apart with the right creative strategies.
To be unique, you’ll need to push the boundaries and think outside the box. Sometimes, it takes a bit of experimenting and rule-breaking to find what works best, but it can certainly be worth it.
Consider Fenty Beauty, for example. This brand, and others launched by Rihanna, were among the first to make a big splash in diversity, inclusivity, beauty, and fashion.
At the time of its launch, Fenty Beauty became recognized as a line with a foundation line that accommodated dozens of different skin tones, especially darker tones that didn’t have much representation in other beauty companies.
Now, because of Fenty Beauty’s unique offer, underrepresented communities know that this is a brand they can turn to for the items they need. Let’s give Fenty Beauty’s marketing team a round of applause.
3. Makes You Memorable
Creating a memorable brand often begins with offering memorable products that stand out in the market. By providing distinctive offerings and properly positioning their brand, companies can set themselves apart from the competition and leave a lasting impression on customers.
For instance, Clean Origin differentiates itself by using eco-friendly, lab-grown diamonds in its jewelry, an exceptional characteristic that sets them apart from other jewelry brands. In a sea of jewelry options, Clean Origin’s eco-friendly diamond tennis bracelet collection becomes a remarkable choice.
By offering a product that aligns with customers’ increasing environmental concerns and desire for sustainable choices, Clean Origin captures attention and creates a memorable brand identity.
This distinctive product offering satisfies customers’ desire for elegant and high-quality jewelry and appeals to their values, making them more likely to remember and choose Clean Origin over competitors.
4. Builds Loyalty
As we discussed, loyalty is one of the biggest goals of brand management. However, loyalty itself can also help differentiate your brand. When you develop customer loyalty, your brand will stand out as one that’s loved and trustworthy.
Think of brands like Apple or Nike that have a cult following. Other products on the market are as good as or better than the ones offered by Apple or Nike, yet people are still willing to spend top dollar to purchase products from these brands.
Nike has built loyalty by aligning itself with well-known professional athletes. They have sponsored the biggest names in sports, positioning their brand as the go-to for the pros. Alignment with influential people creates an influential brand, which is key to building a loyal customer base.
5. Makes Things Personal
In the ever-evolving business landscape of 2023, where differentiation is paramount, the significance of effective branding and brand management can’t be overstated, especially when it comes to making things personal.
While businesses focus on various marketing strategies to stand out, one often underestimated aspect is the strategic use of personalization, such as personalized thank-you notes placed in branded custom frames for purchases with delivery or personalized email signatures.
Personalized signatures, for example, not only exude professionalism but also wield immense branding potential. By incorporating a well-designed signature, businesses can forge a distinctive brand presence that resonates with clients and stakeholders, contributing to a memorable and differentiated identity.
6. Controls The Narrative
Brand management is powerful because it gives you the power to control your brand’s narrative. By taking charge of your brand positioning and creating a voice for your brand, you can create the narrative that makes the most sense.
Having control of the narrative comes in handy if things ever go awry for your business. For example, if you have a less-than-favorable situation occur, you can shift the attention in a way that mitigates the backlash.
7. Shifts Perspectives
Brand management is a great way to help shift perspectives in the industry. By intentionally shifting perspectives, you can make way for innovation and expansion in your business or in your industry.
A great example that relates brand management to shifting perspectives is Form Health. This brand sets out to reframe the conversation around weight loss, focusing on a science-based approach.
Within their branding and messaging, Form Health recognizes that weight loss requires consideration of individual health histories rather than providing blanket claims towards their mission.
By acknowledging individual needs and backing their methods with science, Form Health is positioning itself as a trustworthy guide in the industry-wide mindset shift.
8. Increases Product Value
When done effectively, brand management can increase the value of your product. Whether you offer a physical product or a service, brand management can increase the rate that your potential customers are willing to pay when buying from your company.
Think about Supreme. This luxury clothing brand simply puts a logo on apparel from Hanes, a low-budget underwear company, and charges three to six times the price. Aside from the Supreme logo, the clothing is the same.
Supreme has positioned itself as a luxury brand and has appealed to a higher-income audience. Part of this is marketing products as limited editions and only offering a small supply of each drop. This brand strategy has allowed the company to sell cheap clothing at a premium rate.
9. Keeps Things Cohesive
Cohesion is huge when it comes to branding and brand management. On a surface level, this looks like a cohesive brand aesthetic on social media. If you dig deeper, it manifests as consistent messaging or a consistent customer experience when purchasing from your brand.
When people know what they can expect from your brand, they’ll be comfortable making repeat purchases and referring your business to others. This is a two-fold benefit because it creates strong ties with existing customers and allows you to grow your customer base.
When you create a cohesive brand and consistent experience, customers will recognize you as one of the most reliable options in the competition, which will surely help you stand out (think Rolex or Tesla).
10. Builds Community
Branding and brand management are also great for building a community. By creating a brand that people want to be a part of, you can get your customers involved at a higher level.
There’s strength in numbers, so building a community around your brand will strengthen your marketing activities. This has the same benefit of creating a cohesive brand and consistent experience. Your loyal buyers will become your brand’s spokespeople. You can create communities through online events to help engage and leverage your brand and customer base.
Another benefit of building a community around your brand is getting your audience more deeply involved in your brand’s mission. It enables you to rally a crew to live out the values that mean the most to your brand.
Investing time and resources in brand management is a great way to set your business up for long-term success. This marketing technique will help build a global brand to stand out and become more valuable in the market.
How will you leverage a brand management strategy to set your business apart from the rest?
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